Sila Nanotechnologies, an Alameda, CA-based company developing and manufacturing materials that set a new standard for batteries, raised $70m in Series D funding.
The round was led by Sutter Hill Ventures, with participation from new investors include Next47 and Amperex Technology Limited.
Led by Gene Berdichevsky, CEO, Sila Nano develops new materials to enable lighter, safer, higher energy density batteries for mass adoption of electric vehicles; smarter, longer-lasting portable electronics; as well as broader use of renewable power sources.
The company is now focused on developing and now commercializing the next generation of battery materials. Their first products are a family of silicon-dominant anode materials that replace conventional graphite electrodes entirely. Developed for production within current cell manufacturing processes, these materials aims to enable high cycle life, ultra-low swelling, and high energy density in next generation battery cells.
Today’s funding news follows the company’s partnership announcement earlier this year with the BMW Group.
Since 2011, Sila has raised a total of $125M from investors, including Bessemer Venture Partners, Chengwei Capital, Matrix Partners, Samsung, and In-Q-Tel (IQT).