Wednesday, April 24, 2024
HomeFunding Vietnam-Based battery startup Alterno Secures $1.5 Million in Funding

[Funding Alert] Vietnam-Based battery startup Alterno Secures $1.5 Million in Funding

The Vietnamese firm Alterno, which uses sand battery technology to deliver thermal energy storage solutions, has announced that it has raised $1.5 million in a funding round that was oversubscribed.

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The Radical Fund, a Singapore-based early-stage investor, and Touchstone Partners, a Vietnamese venture capital firm, co-anchored the deal. Glocalink, Impact Square, and Antler were also involved in the round.

It offers thermal energy storage solutions that are specifically designed to meet the drying, warming, and heating requirements of agricultural applications. Its proprietary method consists of heat-conducting tubes embedded in insulated sand.

Read also – BEVM secures tens of million USD in seed and also its Series A Round Funding

In the past, international foundations have given Alterno grants totaling $40,000 from the Japan International Cooperation Agency, $200,000 from the Temasek Foundation, and $350,000 from P4G.

About Alterno

Alternō, are committed to leading the way in developing sustainable solutions that cut carbon emissions in the fields of industry, agriculture, and home heating.

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