Six months after coming under Hamas attack, Carrar raises $5.3M for its battery modules for EVs
Six months after coming under Hamas attack, Carrar raises $5.3M for its battery modules for EVs
The startup's offices and team are located in Sderot and were attacked by Hamas terrorists on October 7
Carrar, a provider of battery modules and thermal management systems for electric vehicles (EVs), has announced that it has secured a $5.3 million Series A funding round made up of new investors Salida B.V., OurCrowd, NextGear, and current investors Gentherm, Next Leap Ventures, Dive Digital, and others. The round will help the company deliver commercial automotive-grade battery modules for EVs with novel internal thermal management based on two-phase immersion technology.
The funding comes after Carrar's offices and team, located in Sderot, around one kilometer from the border with Gaza, were attacked by Hamas terrorists on October 7. “I’m happy to begin this new stage in our company’s growth,” said Avinoam Rubinstain, Carrar’s CEO. “We thank our investors for the vote of confidence in our capabilities and vision. This investment will enable us to achieve the last mile of bringing our superb technology to market.”
Carrar develops battery modules and thermal management systems in the e-mobility space that can dissipate double the amount of heat of existing solutions, thereby increasing battery lifespan three-fold. The company also improves the safety of EVs by preventing the temperature spirals caused by battery exothermic processes, which lead to thermal runaway and battery fire.
According to Rubinstain, the company is working with Tier-1 companies Gentherm and Röchling to build a battery module that presents cooling capabilities and has conducted a safety test on a module developed with a global EV manufacturer showing evidence it prevents thermal runaway and battery fire.
“Anyone who experienced problems with their electric vehicles in North America this winter understands just how critical it is to manage the temperature of EV batteries. Carrar is poised to provide a must-have solution to a critical problem in the fast-growing global EV market,” said OurCrowd CEO Jon Medved. Tal Cohen, Founding Partner at Next Gear Ventures, added: “Carrar brings tangible benefits to consumers and will help increase the adoption of electric vehicles worldwide.”
