Sila, an Alameda, CA-based battery materials company, raised $375M in Series G funding.
The round was led by Sutter Hill Ventures and funds and accounts advised by T. Rowe Price Associates, Inc., with participation from new outside investors as well as existing investors Bessemer Venture Partners, Coatue, Perry Creek Capital, and others.
The company intends to use the funds to expand operations and its development efforts.
Founded in 2011 and led by CEO Gene Berdichevsky, Sila is a battery materials company with the aim to empower the transition to clean energy. It shipped commercially available silicon anode for lithium-ion batteries in 2021, and has since enabled battery performance enhancements in multiple consumer electronics devices. Sila’s Titan Silicon anode will next power electric vehicles, including an upcoming version of the Mercedes-Benz G-Class and will be used within Panasonic Energy’s lithium-ion batteries, which will also serve the automotive industry.
Sila is scaling its technology at its manufacturing facility in Moses Lake, Washington. Funding will secure plant completion in Q1, 2025 and delivery to auto customers in Q4, 2025
FinSMEs
27/06/2024