![](https://techcrunch.com/wp-content/uploads/2023/09/VIC_052023.jpg?w=533)
Another day, another monster raise for an EV battery company.
This time it’s Verkor, the Renault-backed French battery maker, which said Thursday it was securing “more than 2 billion euros” (about $2.1 billion) to accelerate construction of its giant factory in Dunkirk. Verkor produces pocket and cylindrical battery modules for electric vehicles and energy storage locations.
The huge amount includes an €850 million Series C financing round and €600 million in loans from the EU’s European Investment Bank, Verkor explained in a statement. The $2.15 billion figure also includes 650 million euros in French cuts yet to be approved, pending a final agreement from the European Commission.
Australian asset manager Macquarie, French infrastructure investor Meridiam and Renault, among others, participated in the Series C. Verkor claimed this is the “largest capital raise” to date for a French startup, although at this size the company is clearly taking some liberties with the use of the term ‘startup’.
In the same statement, the company quoted President Emmanuel Macron, who called the deal a “bold sign of our ambition for reindustrialization.”
Other recent notable deals for battery makers include Ascend Elements’ $542 million raise and Lyten’s $200 million round.