Enevate Corporation, an Irvine, California-based provider of Lithium-ion (Li-ion) batteries, secured $30M in extended Series-B funding.
The round was led by Mike Lazaridis at Infinite Potential Technologies, Tsing Capital and Mission Ventures with participation from Presidio Ventures – a Sumitomo Corporation company.
The company intends to use the funds to bring technology and products into high volume mass production and expand into new applications such as drones.
Led by Brian Wong, CEO, Enevate has developed advanced Li-ion batteries based on new materials and cell designs which enable smartphones, tablets, ultra-thin notebook PCs, and drones with longer runtimes in less space and weight.
The company’s HD-Energy Technology utilizes silicon-dominant composite anodes for rechargeable Li-ion polymer batteries which increases energy density.