🇸🇪 DREV raises €2.8 million in seed funding to enable a safer, circular battery industry

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Gothenburg, November 5th, 2025

DREV, a Swedish startup pioneering contamination control for the battery industry, today announced the closing of its €2.8 million seed round, co-led by Butterfly Ventures and Almi Invest GreenTech, with support from S-E-Bankens Utvecklingsstiftelse and U.S.-based Battle Born Venture — Nevada’s state-backed venture fund that is in the process of joining the round, with more exciting details to follow.

The funding will enable DREV to accelerate the development, expand the commercial deployment, and establish Swedish manufacturing operations for its Vault Mobile and Stationary solutions—designed to protect worker health and safety, improve production efficiency, and recover critical metals such as nickel, cobalt, lithium, and copper.

This round marks a defining moment for DREV. It’s a testament to the hard work and passion of our team, and to the invaluable guidance of our board and advisors who have supported us every step of the way. Together, we’re building the foundation for a safer, circular battery industry.”

Arelys Sosa

CEO and Co-Founder, DREV

Tackling an Invisible Risk

Battery manufacturing, recycling, and refining processes generate microscopic metal particles—known as “black dust”—that, if left uncontrolled, pose risks to worker health, compromise operational safety, and cause costly downtime, while also leading to the loss of valuable critical metals.

DREV’s patented Vault system addresses this challenge. Successfully tested at a world-leading gigafactory, the Vault has demonstrated measurable improvements in air quality, reduced surface slipperiness, and recovered resources that would otherwise be lost.

At Butterfly Ventures, we look to invest in the best of the best, innovative companies that will change our world positively today and for our children’s future. We live in the age of Gigafactories and other mass-produced products that continually produce “black dust”, but also recoverable resources. The team at DREV is super experienced within this sector and we are so super happy to support them along this journey and beyond.”

    Tanya Horowitz

    Partner, Butterfly Ventures

    Behind this innovation are Co-Founders Arelys Sosa and Thomas Tingelöf, who together bring decades of experience in scaling complex manufacturing and industrial technologies. Arelys led engineering and operations initiatives at Panasonic Energy Corporation of North America, where she oversaw the commissioning of the first 10 production lines and played a key role in building Tesla’s Gigafactory 1. Thomas, who holds a PhD in electrochemistry, served as CTO at PowerCell Sweden, where he led the development next-generation fuel-cell power conversion systems from concept to commercialization. Together, they founded DREV to turn contamination control from an overlooked operational gap into a catalyst for safer, more sustainable growth in the battery industry.

    Driving Safety and Circularity at Scale

    With hundreds of gigafactories and recycling facilities under development worldwide to meet the demand for clean energy, the battery industry is positioned for rapid expansion in the coming years. At the same time, regulations such as the EU Battery Regulation and the Critical Raw Materials Act are raising the bar for sustainability and circularity.

    DREV turns this challenge into an opportunity with its Vault systems. By capturing hazardous yet valuable black dust directly at the source, Vault enhances safety, reduces waste, and boosts operational efficiency. What was once considered a byproduct becomes a new source of value—helping manufacturers recover critical metals, stay ahead of evolving regulations, and operate more sustainably and profitably.

    At Almi Invest GreenTech, we look for technologies that solve real industrial problems while driving systemic environmental benefits. DREV turns a hidden safety and waste issue into a circular advantage — enabling gigafactories to recover critical materials, save water, protect workers, and comply with the next step in sustainability standards. This is exactly the kind of industrial impact we want to accelerate at scale.”

    Jonas Bergqvist
    Investment Manager, Almi Invest GreenTech

    The €2.8 million seed round reflects strong investor confidence in DREV’s technology and market potential. It was co-led by Butterfly Ventures and Almi Invest GreenTech, with participation from S-E-Bankens Utvecklingsstiftelse, and Battle Born Venture. Together, their combined expertise in industrial technology, circular innovation, and scaling further strengthens DREV’s position as a critical enabler of the battery industry’s transition to a safer, more circular future.

    This new backing builds upon support from Unconventional Ventures, EIT Manufacturing, Norrsken Accelerator, and Angel Investors, whose funding has helped accelerate the company’s early development.

    What’s Next for DREV

    With this new funding, DREV will expand its engineering and product development capabilities to accelerate delivery of the Vault product line and meet growing customer demand. The company will also establish manufacturing operations in Gothenburg for in-house production, while deploying its technology in gigafactories and recycling facilities across Europe and North America, as well as expanding its commercial operations in Nevada—advancing the industry’s transition toward safer, more sustainable, and resource-efficient operations.

    This funding provides the resources we need to push the limits of our engineering roadmap. It will allow us to accelerate product development, scale our pre-series test fleets and refine the core technologies behind the Vault product range, ultimately reducing our time to market and ensuring the highest standards of reliability and performance.”

    Thomas Tingelöf

    CTO/COO & Co-Founder, DREV

    About DREV

    DREV provides advanced contamination control technology for the world’s most demanding manufacturing environments. Its patented Vault systems enable safer workplaces, improved operational efficiency, and recovery of valuable materials, supporting a circular battery value chain. Founded in 2023 and based in Gothenburg, Sweden, DREV has received support from Vinnova, Business Sweden, Energimyndigheten, and EIT Manufacturing and have validated their core technology at a world-leading gigafactory.

    Press & Media

    About the Lead Investors

    • Butterfly Ventures – one of the leading seed-stage VCs in the Nordics, focused on deep tech and industrial innovation all while supporting a sustainable future.
    • Almi Invest GreenTech – Sweden’s leading greentech venture investor, supporting companies accelerating the transition to a sustainable society.

    Contact Information

    DREV

    Butterfly Ventures

    Almi Invest GreenTech

    Originally published on 4 November by Drev.

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