Northvolt AB announced that it has received $2.75 billion in equity funding co led by new investors OMERS Private Equity and 4 to 1 Investments and existing investors Goldman Sachs Asset Management, L.P. and Volkswagen AG (XTRA:VOW3) on June 9, 2021. The transaction included participation from existing investors AMF Pensionsförsäkring AB, The ATP Group, Baillie Gifford, Baron Capital Group, Inc., Bridford Investments Limited, Fondaco Growth a fund managed by Compagnia Di San Paolo, Cristina Stenbeck, Daniel Ek, Stichting IMAS Foundation, KIC Innoenergy SE, Norrsken VC Fund a fund managed by Norrsken Foundation, Endownment Arm, PCS Holding AG, Scania Growth Capital AB, and AB Stena Metall Finans (Publ). Volkswagen AG (XTRA:VOW3) invested $620 million and keep its stake to around 20%.

4 to 1 Investments invested $400 million. The company has raised $6.5 billion in equity and debt till date. The round was raised at post-money valuation of $11.75 billion