Enfucell has announced they have opened a crowdfunding campaign on August 24. The company is aiming to raise 800,000 Euros.
Funds raised will be used to ramp up sales and marketing efforts, and ensure quality controls and smooth production by licensees to meet growing demand.
The campaign will remain open until September 30, and conducted on crowdfunding website Invesdor.
Enfucell pursues this round of funding through crowdfunding instead of venture capital funding, as it aims to broaden its investor base in preparation for a potential public listing.
The company has revenue streams, growing for a third year in a row, from license payments from battery licensees, battery materials sales, customer driven device development projects and subcontracted low-cost IoT devices.
The current revenue stream is mainly flowing from license and device prototype payments. The business model is highly scalable, leading to very high potential profitability.