Solicore, a Lakeland, FL-based global provider of embedded power solutions, held the first close of its Series A1 round of financing.
The round was led by new investor New Science Ventures, which committed $4m in capital, with participation from existing investors R.R. Donnelley, Rogers Corporation, Draper Fisher Jurvetson, Braemar Energy Ventures, Firelake Capital, OPG Ventures Inc. and Hydro-Quebec CapiTech. In conjunction with the funding, Vivek Mohindra, Partner at New Science Ventures, also joined Solicore’s Board of Directors.
The company intends to use the funds to expand the market reach.
Led by Dave Corey, CEO, Solicore provides a product portfolio of advanced ultra-thin flexible lithium polymer batteries for powered cards, RFID and micro medical devices. The company promises that its advanced battery technology is ultra-thin, flexible, safe and environmentally friendly, and enhances the capabilities of lithium-based batteries.