Posh raises $3.8M seed round to automate EV battery recycling.

By Wesley Zheng

Today I am excited to announce the closing of our seed round of $3.8M from investors including Y Combinator, Metaplanet, Outbound Capital, Starling Ventures, Uphonest Capital, Global Founders Capital, Muse lead singer Matt Bellamy (through Helium-3 Ventures), and others.

The opportunity:

There will be around 12 million tons of lithium ion batteries retiring from EV between now and 2030. Most of these batteries will have 80% capacity unused and thousands of dollars worth of precious metals. Today these retired batteries are disassembled almost 100% manually before they are repurposed for second use or shredded for recycling. We are changing this by making battery disassembly fast, safe, and scalable, with 10x efficiency. We want to bring affordable lithium-ion batteries to the masses and help create a circular economy for our electric future.

How we got started:

The concern about EV battery recycling is in many people’s mind as we enter the inflection point of EV adoption. During a visit to a company providing battery service to a major auto OEM, we saw first-hand on the ground how recalled and retired EV battery packs are piling up in warehouses waiting to be manually disassembled. It is a manual and laborious process, exposing the workers to a great deal of fire and safety risks.

One of the biggest challenges with automating EV battery disassembly is dealing with abnormalities and uncertainties. Traditional automation is suitable for pre-programmed, repetitive tasks in a highly structured environment. There are currently many product variants for retired EV battery packs and no common standards in battery pack design. Developing a flexible automation systems that can handle different types of packs is critical in making the EV battery recycling process truely scalable.

We are combining our expertise in batteries and robotics to solve this tricky challenge. The future is electric, and we want to make it more sustainable by creating a circular economy around batteries.