The Imperial College Innovation Fund has led a £1 million seed investment round for UK energy storage startup, Cheesecake Energy Ltd. The round, which includes Perivoli Innovations, and prominent business angels, will fund the development of CEL’s’s manufacturing capabilities and its lead eTanker storage system.

ICIF, which invested £300,000 in this round, is an early-stge investment fund launched at Imperial in early 2020. It invests in startup companies with a strong connection to Imperial College London, such as those founded by students, members of staff or alumni, or companies which have engaged extensively with Imperial’s entrepreneurial ecosystem.