Tavion, headquartered in Stockholm, develops and owns utility-scale battery energy storage systems (BESS), positioning the company in the climate and energy sector at the infrastructure layer that helps grids absorb and dispatch power as more renewable generation comes online. The company is led by CEO Emad Zand, a serial entrepreneur who previously ran Northvolt's battery systems division.

BUILT FROM BATTERY INDUSTRY EXPERIENCE

Tavion emerged partly from the talent that scattered after setbacks at battery manufacturers Northvolt and Morrow, a pool of experienced people now feeding a new wave of battery storage startups and developers across Europe. Zand has framed the company's focus plainly: battery storage is what will make tomorrow's power system work in practice. BESS platforms like Tavion's also carry a structural advantage over EV battery makers, since grid storage doesn't need to be mobile, allowing larger, heavier cells that can skip the rare-earth metals and imported materials that expose automotive battery supply chains to risk.

A 3 GW AMBITION, STARTING IN POLAND

Tavion is targeting 3 GW of deployed storage capacity within five years. Its first market is Poland, where rising renewable penetration, a coal phase-out, and price volatility are driving fast demand for grid storage, while very few batteries are yet connected. The company has secured a 1.7 GW project pipeline there, with roughly 300 MW at or near ready-to-build stage, and has grown to more than 20 employees across Sweden and Poland since its public launch.

THE INVESTMENT

Course Corrected VC Fund II made its first investment in Tavion in 2024 at pre-seed, contributing €2 million, and has since invested €3 million in total across rounds. The company remains in the fund's portfolio. Its latest round values Tavion at €155 million, marking the fund's position at a 3.01x multiple, unrealized. Notable co-investors in later rounds include Backing Minds, Oberon, and Leitmotif. Tavion has raised €42 million in total capital to date.

FUNDING MOMENTUM SINCE PRE-SEED

Tavion's pre-seed round, alongside Course Corrected and BackingMinds, brought in roughly SEK 76 million (about $8 million) in equity and SEK 500 million (about $53 million) in debt financing. The company went on to raise an oversubscribed round of around €34 million in equity, led by Leitmotif and Oberon Capital, plus a €16 million debt facility, together financing its first three Polish battery parks, a combined 69 MW of capacity. Investor commentary around that round pointed to execution as the deciding factor: Daniel Linnergren of Oberon Capital said the fund had witnessed firsthand the exceptional growth and execution capabilities of the team.