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ElevenEs has closed the first part of its Series B investment round, backed by Caterpillar Venture Capital Inc. Construction of a 1 GWh LFP battery cell mega-factory in Serbia will commence in February 2026, with the first battery deliveries anticipated in 2027.

The raised funds will be used for initial infrastructure and equipment phases. The project aims to establish a high-tech ecosystem in Serbia, creating over 350 jobs and expanding ElevenEs' current team of 110 international experts. ElevenEs develops LFP Edge battery technology for various industrial sectors, enhancing its production capabilities following the completion of a pilot factory in 2023.