Osborne Clarke has advised the Japanese venture capital investor NordicNinja on the seed funding round of Munich-based battery recycler Tozero, amounting to EUR 11 million.
Tozero, founded in 2022 by Sarah Fleischer and Ksenija Milicevic Neumann, is a Munich based start-up specialising in the sustainable recycling of lithium-ion batteries. The aim is to recover critical materials such as lithium, nickel, cobalt, manganese, and graphite. This not only contributes to reducing electronic waste but also supports the sustainable use of resources in battery production.
Tozero has now successfully completed its seed funding round, raising EUR 11 million. The round was led by NordicNinja, with participation from In-Q-Tel (IQT), Honda, and JGC Group, as well as existing investors Atlantic Labs, Verve Ventures, and Possible Ventures. With the fresh capital, Tozero plans to build a pilot plant to increase the production of recycled lithium and expand the team.
“Tozero's innovative approach to battery recycling is exactly what Europe needs to secure key supplies in the global electrification race and Japan would love to collaborate. Sarah and Ksenija, two exceptional founders, have the expertise and drive to transform the landscape for sustainable battery solutions. We're excited to support the tozero team in scaling its technology and commercial operation and contributing to a more sustainable and independent energy future for all,” said Shin Nikkuni, Co-Founder and Managing Partner at NordicNinja.
The Osborne Clarke team advising NordicNinja, led by Fabian Mimberg and under the Partner responsibility of Dr Benjamin Monheim, consisted of Dr Felix Dörrenbächer, Benedikt Hülsmann, Victor Robertz, Fenja Striesow (all Corporate / VC), Christoph Boeminghaus, Jennifer Beckmann, Daniel Jeske (all Commercial), Dr Johannes Graf Ballestrem, Dr Stephan Reisner (both Patent Law / IP), Nils Wiehmann and Konstantin Axnick (both Employment).
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