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DREV closes €700k pre-seed funding round

Anna Sheridan

published 27 June, 2024

drev team

March 2024

DREV is proud to announce the successful closure of a €700,000 pre-seed funding round. This investment will accelerate DREV's product development and support our pilot project at one of the world's largest gigafactories, validating our value proposition for the proof-of-concept of employee safety and material recovery to redefine industry standards.

The funding round was led by Unconventional Ventures, known for their commitment to supporting startups led by diverse founders building scalable impact tech companies in the Nordics and beyond. The investment also includes contributions from remarkable angel investors who bring invaluable industry expertise and competencies, strengthening DREV's path to developing cutting-edge technology in a rapidly growing industry.

At Unconventional Ventures, we are dedicated to backing visionary founders like those at DREV who are not only disrupting industries but also paving the way for sustainable and safer practices. We believe that DREV's innovative approach to battery manufacturing safety and material recovery will not only redefine industry standards but also make a significant impact on environmental sustainability. We are proud to support them on this journey." - Nora Bavey, General Partner at Unconventional Ventures.

Nora Bavey

General Partner, Unconventional Ventures

About DREV

DREV was established in March 2023, and since then, have achieved crucial milestones in developing advanced contamination control solutions for the largest manufacturing facilities globally, characterized by their immense size, advanced production capabilities, and the strictest quality control measures for humidity and particles.

At its core, DREV's mission is to support and pioneer an innovative solution that aims to revolutionize how battery manufacturing facilities safely collect and reuse valuable raw materials while maintaining cleanliness and efficiency inside their production areas, allowing manufacturers to reduce their environmental impact.

drev co-founders

A Word From our Co-Founders

“As a former problem owner, my firsthand experience and lessons learned now drive the creation of effective solutions. I am also honored to have such a talented and committed team that is fully aligned with the mission and vision. Every day, we gain a deeper understanding of our contribution; this keeps us motivated and focused on progress. We move with speed and a sense of urgency, as we are talking about protecting people, saving natural resources, and collecting and recycling precious elements. How could we not be in love with this mission?" – Arelys Sosa, CEO and Co-Founder of DREV.

"This funding is a significant milestone for DREV, marking a pivotal moment where our vision for safer and more sustainable battery manufacturing begins to materialize. With a background in the hydrogen fuel cell industry and advanced manufacturing, I've seen firsthand the critical need for innovation in production environments and deeply respect the complex chemistries involved. I'm excited to lead our skilled tech team towards our common goal of redefining production standards in the fast-evolving battery industry." – Thomas Tingelöf, CTO and Co-Founder of DREV.

Next Steps for DREV

With the new funding, DREV is poised to expand its technical team, move into a new office space equipped with a state-of-the-art workshop, and accelerate product development. These strategic moves aim to prove our concept of material recovery, aligning with the company's goal of supporting the battery industry's transition to more sustainable and safer manufacturing practices.

Thank you to Unconventional Ventures, our angel investors, and the DREV team for your trust, support, and shared vision. Together, we're not just building a company but shaping the future of battery manufacturing.

Contact Information

For inquiries, please contact:

Arelys Sosa, CEO: +46 70-442 79 62, arelys@drev.tech

Kent Moore, CCO: +46 72-251 77 41, kent@drev.tech

For more information, please see Unconventional Venture's Press release.