Battery start-up Sila Nano raises $70m from Siemens and Japan’s ATL – Financial Times
Henry Sanderson, Financial Times
US battery start-up Sila Nanotechnologies, which has a partnership with BMW, has raised $70m in funding from investors including Siemens’ venture firm Next47 and Japan’s ATL.
The funding round was led by Sutter Hill Ventures and brings the total raised by the California- based company to $125m.
Sila has developed a silicon-based battery material to replace graphite on the battery anode, which it says can improve the amount of energy batteries can store — enabling cars to drive further on a single charge. Founded by Gene Berdichevsky, an early employee of Tesla, Sila announced a partnership with BMW in March.