Battery Innovation Programme: Creating a vibrant tech sector in the UK
In 2024, a report commissioned by UK Research and Innovation‘s Faraday Battery Challenge, delivered by Innovate UK and produced by Dealroom.co shows that UK-based electrical vehicle battery start-ups have raised $2.7 billion in funds from venture capital (VC) investments since 2018.
This makes the UK the fourth largest recipient of VC investment in EV batteries in the past five years, following the US, China and Sweden.
Faraday Battery Challenge-funded UK EV battery start-ups have raised $1 billion in VC investment since 2018 – those 52 UK battery startups supported by the Faraday Battery Challenge are also valued at over $2 billion.
To learn more about the financial strength of the UK EV battery sector, read the full report published in October 2024.


