Sila Nanotechnologies raises $590 mn to fund battery materials factory


Sila Nanotechnologies raised $590 mn in a Series F funding round led by Coatue with participation by T. Rowe Price Associates, Inc & existing investors 8VC, Bessemer Venture Partners, Canada Pension Plan Investment Board, and Sutter Hill Ventures.


Sila Nanotechnologies, a Silicon Valley battery materials company, has spent years developing technology designed to pack more energy into a cell at a lower cost.


The fresh funds introduced will be put to hire another 100 people this year and begin to buildout a factory in North America capable of producing 100 gigawatt-hours of silicon-based anode material, which is used in batteries for the smartphone and automotive industries.

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