Swedish energy technology startup Rebaba has raised $4.6 million (SEK 44.1 million) in an oversubscribed seed round led by Sistafund, with participation from EIT Urban Mobility, existing shareholders, and other European investors.
- Founded in 2023 by Paula Runsten and Felix Kruse, Rebaba develops energy storage systems using retired electric vehicle batteries, giving them a second life in stationary storage applications. Its technology helps customers reduce energy costs, avoid grid bottlenecks, and support grid balancing.
- The company offers two energy storage products: Companion, a 40 kWh cabinet-based system for residential and smaller commercial applications, and Containerised, a larger-scale solution for commercial and industrial customers. The systems support applications including peak shaving, load shifting, local renewable energy storage, and grid balancing.
- Rebaba has been operating its flagship CircularHub in Stockholm for a year and has commercial deployments across Sweden. The company is also expanding its European distribution network, with agreements in place across Sweden, Scandinavia, Germany, Austria, Switzerland, and France.
Details of the deal
- Rebaba plans to use the new funding to scale production, expand its CircularHub network beyond Sweden, fulfill new commercial agreements, and grow its team. It aims to increase the capacity of its Stockholm facility to 40 MWh per year, which the company estimates could avoid around 4,000 tonnes of CO₂ emissions annually.
“Rebaba turns retired EV batteries into high-performance storage systems that can be built locally and compete on price. That is what convinced us to lead this round: circularity without compromise, and a team with the potential to build a European leader in energy storage," claims Marie Geneste, Partner at Sistafund.
- The startup has secured $7 million in equity and non-dilutive funding since its founding and is now preparing to expand its second-life battery storage solutions across European markets.
