Poen, a remanufacturer of electric vehicle battery packs, has raised KRW 39 billion in Series B funding. Since its founding in 2019, the company has raised a total of KRW 46.7 billion .
The investment round was led by DSC Investment, with participation from Industrial Bank of Korea, Shinhan Venture Investment, Hyundai Motor Securities, SJ Investment Partners, L&S Venture Capital, and K2 Investment Partners.
Poen has developed technology to identify and repurpose reusable waste batteries. The company has established an electric vehicle battery value chain platform in South Korea through collaborations with Hyundai Motor Company, Kia Motors, LG Energy Solution, and SK Energy. Poen plans to use the new funding to further advance its technology.
