On December 4, 2023, AM Batteries, Inc. closed the transaction. The company has received $30,000,000 in the transaction. The oversubscribed funding round led by returning investor Toyota Ventures.

The transaction included participation from new investors Porsche Ventures GmbH, Asahi Kasei Corporation, RA Capital Management, L.P., WS Investment Co., Industry Ventures, L.L.C., and returning investor Anzu Partners, LLC, TDK Ventures, Inc., Creative Ventures, Inc., Doral Energy-Tech Ventures, Zeon Ventures, Tsingyuan Ventures LLC. The company has received over $60,000,000 in funding till date. The company has received $3,057,047.55912 in its second tranche.