UP Catalyst is an Estonian based startup, which produces sustainable carbon nanomaterials directly from CO2 or from waste biomass for a vast range of applications ranging from green advanced battery technologies to biomedicine. UP Catalyst’s mission is to become the first and leading European industrial scale manufacturer of sustainable carbon nanomaterials and graphite thus providing a strong alternative to environmentally harmful materials used today.
Location: Lithuania
Employees: 11-50
Total raised: $140.31M
Founded date: 2019
Investors 1
Funding Rounds 7
| Date | Series | Amount | Investors |
| 27.01.2026 | Series C | $108M | Creandum |
| 08.04.2025 | - | $19.77M | - |
| 21.08.2024 | - | $2.56M | - |
| 05.12.2023 | Seed | $4.32M | - |
| 24.07.2023 | - | $1.67M | - |
| 21.04.2022 | Pre-Seed | $2.28M | - |
| 07.03.2022 | - | $1.72M | - |
Mentions in press and media 25
| Date | Title | Description |
| 31.01.2026 | Baltic Tech Soars: Cast AI Achieves Unicorn Status Amid Regional Investment Boom | Cast AI, a Lithuanian-origin, US-based firm, achieved unicorn status in 2025. It raised a significant $108 million round. This propels its AI-driven Kubernetes and cloud cost optimization platform. The funding fuels global expansion. This l... |
| 27.01.2026 | Top Funding Rounds Raised by Baltic Startups in 2025 | Estonia, Latvia, Lithuania ~ Company: In 2025, the Baltic startup ecosystem continued to mature. At the same time, investment activity has been notable: Lithuania’s total tech ecosystem value surpassed €16.4 billion thanks to a significant ... |
| 05.11.2025 | As Europe ramps up gigafactory compliance, DREV raises €2.8 million to help capture and reuse critical metals from ‘black dust’ | DREV, a Swedish startup pioneering contamination control for the battery industry, announced the closing of its €2.8 million Seed round in order to expand its engineering and product development capabilities to accelerate delivery of the Va... |
| 08.04.2025 | Estonia’s climate tech startup UP Catalyst lands €18M from EIB to turn CO₂ into graphite and tackle EU supply shortfall | Europe is staring down a graphite shortage, and the clock’s ticking. With demand for battery materials surging, the supply gap for graphite alone is expected to hit nearly 800,000 metric tonnes by 2030. Around 15% of that shortfall is expec... |
| 08.04.2025 | UP Catalyst raises €18 million to advance the EU’s critical raw material production | UP Catalyst, a Tallinn-based company specialising in transforming industrial CO2 emissions into locally produced critical raw materials, has secured an €18 million loan from the European Investment Bank (EIB). This financing is crucial for ... |
| 22.11.2024 | Tech for Impact Awards crowns three winners | Tech for Impact Awards recognizes impact-driven startups across Europe that leverage technology to develop solutions that address today’s pressing global challenges to help accelerate reaching the net-zero emission in various industries or... |
| 11.10.2024 | How UP Catalyst's circular carbon solution challenges Chinese dominance | When you think of tech around carbon emissions, you probably think of carbon capture and storage. But we're currently seeing the rise of novel technologies that turn CO2 emissions from pollutants to be captured and stored into physical ingr... |
| 22.08.2024 | UP Catalyst: Turning CO2 into Gold for the Battery Industry | In the heart of Tallinn, a revolution is brewing. UP Catalyst, a trailblazer in sustainable carbon material production, has secured an additional €2.36 million in funding. This fresh capital is not just a number; it’s a lifeline for a visio... |
| 21.08.2024 | Tallinn-based UP Catalyst bags extra €2.3 million to offer a sustainable solution for the battery value chain | UP Catalyst, a pioneer in sustainable carbon material production directly from CO2 emissions, has successfully closed a €2.36 million seed extension round. The funding round saw equal participation from Warsaw Equity Group, a leading privat... |
| 21.08.2024 | UP Catalyst secures €2.3M to create battery materials from CO2 | UP Catalyst, a producer of battery material production directly from CO2 emissions, has closed a €2.36M seed extension round. This follows the initial seed round raised last December which amounted to €4 million, bringing the total seed fun... |
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