ElevenEs Secures Series B Funding from Caterpillar to Build 1 GWh Battery Plant in Serbia
ElevenEs has completed the first phase of its Series B funding round, led by Caterpillar Venture Capital Inc. The company will begin constructing a 1 GWh LFP battery cell mega-factory in Serbia in February 2026, with initial battery deliveries expected in 2027. The funding will support infrastructure and equipment development, aiming to create a high-tech ecosystem that will employ over 350 people. ElevenEs focuses on lithium iron phosphate battery technology for industrial applications and electric vehicles.
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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.
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