Sonocharge Vitality Raises $23.5M Financing Spherical
Cleantech San Diego member and Southern California Vitality Innovation Community (SCEIN) firm Sonocharge Vitality – an modern tech firm enabling the world’s batteries to last more, cost sooner and be safer – has efficiently raised a $23.5M financing spherical led by ClimateTech enterprise capital agency Cycle Capital, with participation of Honda, present traders Khosla Ventures, Temasek, and non-dilutive funding companions.
“Sonocharge Vitality is the primary funding out of our Fund V, a enterprise development fund targeted on electrification, energy electronics and photonics. We’re thrilled to accomplice with Honda, Khosla Ventures and Temasek to assist the corporate by means of its development section as it’s accelerating the commercialization of its options in a variety of functions,” mentioned Andrée-Lise Méthot, Founder and Managing Companion at Cycle Capital. “As we’re actively taking a look at deploying $350M within the ClimateTech sector within the subsequent few years, Sonocharge Vitality is an exemplary case of how expertise can facilitate electrification by bettering efficiency and scale its deployment.”
“Sonocharge Vitality has an modern expertise that permits longer battery life and sooner charging. This expertise makes use of acoustic waves to considerably improve the cost cycle lifetime of batteries, and Honda has excessive hopes for its potential. To Honda, this can be a helpful expertise as longer battery life will assist to scale back environmental affect and enhance comfort for EV customers. Honda will proceed to find, collaborate with, and put money into modern ventures resembling Sonocharge Vitality by means of Honda Xcelerator Ventures1, our international program for open innovation,” mentioned Manabu Ozawa, Managing Govt Officer of Honda Motor Co., Ltd.
“We’re happy to see Cycle Capital and Honda be a part of our present investor syndicate.” mentioned An Huang, CEO of Sonocharge Vitality. “We’re grateful to be supported by such a powerful group of traders that deliver invaluable assets, expertise, and business partnerships essential to scaling our firm. This funding will allow us to advance core R&D, and work intently with our clients to optimize for his or her particular use case and put together for manufacturing.”
This marks an vital milestone for the corporate and comes on the heels of customer-funded lab assessments demonstrating considerably improved efficiency with lithium-ion batteries utilizing Sonocharge Vitality’s expertise. This new funding will allow the corporate to develop its workforce in its new location in Silicon Valley and speed up the business deployment of its options with key EV and battery producers to increase the vary and efficiency of batteries.
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