Ateios, a Newberry, Ind.-based maker of paper-thin customizable battery, raised $1.25M in seed funding.
The round was led by Good Growth Capital. Additional investors included Keshif Ventures, Techstars Ventures, Elevate Ventures, HG Ventures, Impact Assets, VisionTech Angels, and several angels.
The company intends to use the funds to meet customer demand and take their technology to scale.
Founded by Rajan Kumar, PhD, CEO, and fellow graduate student Carlos Munoz, Ateios (pronounced “Ah-TAY-ohs”) has developed a flexible, paper-thin customizable battery.
After spinning out the company and engaging with customers in wearables and the Internet of Things (IoTs), the company developed a patent-pending manufacturing technique for thin-film batteries. Ateios relocated earlier this year to the Battery Innovation Center located outside of Bloomington, Indiana.
The funding round follows the receipt of Phase I SBIR funding from the National Science Foundation and graduation from The Heritage Group Accelerator powered by Techstars.