Battery charging co StoreDot raises $32m

dollars  picture: Thinkstock

StoreDot has developed a battery charger that can recharge a smartphone in 30 seconds.

Israeli start-up StoreDot announced today that it has raised $32 million in an investment led by Singulariteam, a private investment company led by Moshe Hogeg. In June, Russian billionaire and Chelsea FC owner Roman Abramovich invested $10 million through his private asset management company Millhouse LLC. This means that StoreDot has raised $42 million in its financing round. The company has raised $48 million to date.

The funds will be used to continue development of its product and hire more staff at its Ramat Gan offices where it has 10 employees. StoreDot has developed a battery charger that can recharge a smartphone in 30 seconds.

Previous investors include Genesis Angels Fund and Nation-E, headed by former Maccabi Netanya owner Daniel Jammer.

Published by Globes [online], Israel business news - www.globes-online.com - on October 1, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

dollars  picture: Thinkstock
dollars picture: Thinkstock
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