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Cellfion

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PFAS-free, cellulose-based membranes for energy storage technologies

Stockholm, SwedenFounded 2021Transportation
Valuation $5–10M Last recorded · 2022
Revenue <$1M Latest reported FY
Headcount <100 Current team size
Total funding $0–10M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for Cellfion and the history behind them.

About Cellfion

Cellfion is a Swedish materials science company that develops and manufactures sustainable, wood-derived membranes for the clean energy sector. Founded in August 2021 by CEO Liam Hardey, the company spun out of more than a decade of research at KTH Royal Institute of Technology, Linköping University, and RISE research institutes. Cellfion's core product is an ion-selective membrane made from nanocellulose, designed as a critical component for electrochemical energy storage and conversion devices.

The company's primary business is providing a cost-effective and environmentally friendly alternative to conventional membranes, which are often fossil-based and contain toxic per- and polyfluoroalkyl substances (PFAS). As regulations, particularly in the European Union, move to restrict PFAS, Cellfion is positioned to meet the growing demand for sustainable, high-performance alternatives. The membranes' properties, such as ion conductivity and mechanical integrity, can be customized for specific applications. The production process is inspired by traditional papermaking, where cellulose nanofibrils are extracted from wood, chemically modified, and pressed into membranes.

Cellfion's business model focuses on the sale of its membranes and nanoparticle dispersions. It serves clients in the hydrogen, battery, and ion-separation industries. Key application markets include redox flow batteries for large-scale energy storage, electrolyzers for green hydrogen production, and fuel cells. The company collaborates with partners like organic flow battery specialist Rivus Batteries to develop fully sustainable energy storage systems. Since its inception, Cellfion has secured multiple rounds of funding, including a €1.3 million seed round in 2022 from investors like Almi Invest Green Tech and Voima Ventures, and a €2.5 million grant from the European Innovation Council in 2024.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2021
Headquarters
Stockholm, Sweden
Employees
20
Open positions
None listed
Dealroom signal
64.8/100
Sub-industry
Clean Energy, Energy Storage
Sector
Transportation, Biotechnology, Biomaterials, Membranes, Biopolymers, Spinout, Nanomaterials, Sustainable Development Goals, EIC
Technology
Hardware, Deep Tech
Business model
Manufacturing
Client focus
b2b

Funding history

5 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
SUPPORT PROGRAM✓Other financing Jan 2024 $550K — Swedish Energy Agency —
GRANT✓Other financing Nov 2023 $2.4M — European Innovation Council —
Showing the latest 2 of 5 recorded eventsBook a demo for the full funding history →

Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

YearRevenueGrowthProfitMargin
2026
2025
2024
2023
2022 —
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Growth signals

Cellfion website traffic

Latest recorded traffic for Cellfion is 250 monthly website visits, down 26.5% over the last three months. Cellfion's team grew 0% over the past year.

Latest monthly visits250 3-month web change-26.5% 1-year team growth0%
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Similar companies

Closest operating peers by Dealroom taxonomy

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Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

11 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed6 investors entered at this stage

  • Voima Ventures
  • Almi Invest
  • Klimatet Invest
  • LIU Invest
  • KTH Ventures
  • European Innovation Council

Other known investors5 additional known investors

  • KTH Innovation
  • KTH Royal Institute of Technology
  • Linköping University
  • Swedish Energy Agency
  • Almi Företagspartner
Team profiled 10 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 4 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
2 countries with
team presence
🇸🇪 Sweden92.9%
🇸🇬 Singapore7.1%
2 countries shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Cellfion on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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