Cuberg, Inc., a Berkeley, Calif.-based startup founded by former Stanford University researchers developing next-generation battery technology for potential aerospace and industrial applications, received a second seed round of funding.
Boeing [NYSE: BA]’s Boeing HorizonX Ventures led this second seed investment round, which included a follow-on investment by HPC Energy Services, a Canadian integrated oil and gas product and service company. The amount of the deal was not disclosed.
The company intends to use the funds to expand both the team and its research and development facilities.
Established in April 2015 and led by CEO Richard Wang, Cuberg developed an advanced battery cell that is designed to be a drop-in solution to existing large-scale battery manufacturing processes. It combines a lithium metal anode, proprietary electrolyte and high-voltage cathode to achieve high energy density and thermal durability.
The company has grown with several rounds of financing and grant funding, and signed a multimillion-dollar joint development agreement with an industrial battery manufacturer. It is currently a member of the Cyclotron Road entrepreneurial research fellowship program located at Lawrence Berkeley National Laboratory.