CFX Battery Inc., an Azusa, CA-based developer of rechargeable batteries, has raised $14.2m in Series B funding.
Participants in the round includes investors CMEA Capital, Harris & Harris, Schlumberger and US Venture Partners.
According to a press release, this investment brings the total amount the company has raised to date to $29.4m.
The funds will enable CFX Battery to double its manufacturing capacity at its headquarters in Azusa. The company’s expansion plans will also support additional research and development resources to accelerate the commercialization of a wide range of battery system form factors for military, industrial, medical, automotive and consumer applications.