TeraWatt Technology, a Milpitas, CA-based battery producer, raised an undisclosed amount in Pre-C funding.
The round saw participation from Development Bank of Japan, INPEX Corporation, JIC Venture Growth Investments, Rakuten Capital, Mori Trust, GLIN Impact Capital, and other individual investors. Investors from Series B, including Temasek, Khosla Ventures, and JAFCO participated again in this round.
The company intends to use the funds to accelerate the large-scale pilot-production of its lithium-ion batteries.
Led by Founder CEO Ken Ogata, TeraWatt Technology produces lightweight, high-power, and safe lithium-ion batteries. Its subsidiary operates in Japan with the support of Organization for Small & Medium Enterprises and Regional Innovation. Through the existing pilot manufacturing, It has been producing 5 to 8Ah commercial-grade cells, which have passed safety testing requirements at third-parties such as UN38.3 and IEC62133-2.
FinSMEs
05/06/2023