StoreDot Raises $18M To Enter EV Market

August 20, 2015 | The Israeli company StoreDot that creates fast charging batteries, announced that it has raised $18 million to help fund the establishment of an electric vehcile (EV) unit. The company, which has raised $66 million to date, saw investments in this round from existing investors Norma Investments Limited, which represents Roman Abramovich, and Samsung Ventures. The company’s goal is to use the funding to build a fast-charging electric vehicle, as well as to hire new employees and establish new labs for the unit. StoreDot was founded by CEO Doron Myersdorf.