Ionblox Raises $24M in Series B Funding

Ionblox (previously known as Zenlabs Energy), a Fremont, CA-based lithium-ion cell company, raised $24m in Series B funding.

The round was led by Lilium, with participation from Applied Ventures, LLC, and Catalus Capital.

The company intends to use the funds to continue scaling operations and increasing manufacturing capabilities as it ramps up production in the United States, invest in the hiring and further expand the team.

Led by CEO Sujeet Kumar, Ionblox is an energy company transforming the future of mobility by land and air. The company has more than 40 patents, including for the pre-lithiation of all types of silicon-based anodes. Ionblox’s proprietary pre-lithiated silicon oxide anode and cell design enable multiple performance attributes like fast charging, high energy, high power, and long life. The company intends to change the electric mobility by delivering technology and enabling electric vehicle (EV) and electric vertical take-off and landing vehicle (eVTOL) companies to achieve their goals.

Earlier this year, Ionblox received its third development contract from the United States Advanced Battery Consortium LLC (USABC) providing $3.5m in cost share for the development of low-cost, fast-charge electric vehicle batteries.

FinSMEs

31/10/2022