CellEra develops a technology that reduces electric fuel cell costs. The company says the technology is aimed at the communications power supply market estimated at a value of $3 billion.
The company's existing investors also participated in the round– VC fund Israel Cleantech Ventures, the company's major shareholder – B-2-V Partners and private investors.
Following the financing round, Carmel Ventures General Partner Ori Bendori joined the company's board. This is Carmel's first renewable energy investment.
"For a long time we have been seeking unique and revolutionary technologies in the renewable energy market. We believe we have found these qualities in CellEra," said Bendori.
CellEra CEO Ziv Gottesfeld said after the fund raising: "Aside from the capital, an investment by a leading global communications corporation such as Vodafone will facilitate our entrance into the communications market and enable us to adapt our cell technology to the unique demands of global communication providers."
CellEra was founded by Gottesfeld, CTO Dr. Shimshon Gottesfeld and VP R&D and Engineering Dr. Dario Dekel. The company has 15 employees to date.
Click here to read this report in Hebrew