Beloit-based startup Blue Line Battery has raised an additional $750,000, bringing its recent fundraise to $1.5 million, according to a U.S. Securities and Exchange Commission filing.
Blue Line Battery designs and manufacturers power systems for multiple markets including industrial, stationary, small electric vehicle and solar.
The company manufacturers light-weight, rechargeable and portable lithium-ion batteries for forklifts, pallet jacks and other manufacturing processes involving automation and artificial intelligence.
Blue Line operates out of the Whitewater University Technology Park & Innovation Center. It also has a 10,000-square-foot engineering lab in the same technology park.
The funds were raised by 9 investors, including Silicon Pastures, Lancaster Investments and Grey Collar Investments, who invested $500,000 combined.
Blue Line has said it would use the capital to develop its intelligent battery management systems and hire more staff.
Blue Line participated in the gBETA accelerator program, gener8tor’s seven-week accelerator program for early-stage companies with local roots. The company has plans to move back to Irontek, which is Beloit’s coworking space and tech hub.