Sakti3 Raises $4.2M from General Motors Ventures and Itochu Technology Ventures
Sakti3, Inc., an Ann Arbor, Michigan-based developer of lithium-ion batteries, received a $4.2m investment from General Motors Ventures and Itochu Technology Ventures.
The new capital will enable the company, a spin-out of the University of Michigan, to advance its manufacturing capabilities and to speed commercialization of its battery cells.
The strategic investors join existing partners Khosla Ventures and Beringea.
Founded in 2007, Sakti3 recently received a $3m grant from The Michigan Economic Development Corporation (MEDC).