Sonocharge Power Raises $23.5M Financing Spherical
Cleantech San Diego member and Southern California Power Innovation Community (SCEIN) firm Sonocharge Power – 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 Power is the primary funding out of our Fund V, a enterprise progress fund centered on electrification, energy electronics and photonics. We’re thrilled to companion with Honda, Khosla Ventures and Temasek to help the corporate by means of its progress part as it’s accelerating the commercialization of its options in a variety of purposes,” stated Andrée-Lise Méthot, Founder and Managing Companion at Cycle Capital. “As we’re actively deploying $350M within the ClimateTech sector within the subsequent few years, Sonocharge Power is an exemplary case of how know-how can facilitate electrification by bettering efficiency and scale its deployment.”
“Sonocharge Power has an modern know-how that permits longer battery life and sooner charging. This know-how makes use of acoustic waves to considerably enhance the cost cycle lifetime of batteries, and Honda has excessive hopes for its potential. To Honda, this can be a helpful know-how as longer battery life will assist to cut back environmental affect and enhance comfort for EV customers. Honda will proceed to find, collaborate with, and put money into modern ventures resembling Sonocharge Power by means of Honda Xcelerator Ventures1, our world program for open innovation,” stated Manabu Ozawa, Managing Government Officer of Honda Motor Co., Ltd.
“We’re happy to see Cycle Capital and Honda be a part of our present investor syndicate.” stated An Huang, CEO of Sonocharge Power. “We’re grateful to be supported by such a robust group of traders that deliver invaluable sources, expertise, and industrial 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 checks demonstrating considerably improved efficiency with lithium-ion batteries utilizing Sonocharge Power’s know-how. This new funding will allow the corporate to develop its staff in its new location in Silicon Valley and speed up the industrial deployment of its options with key EV and battery producers to increase the vary and efficiency of batteries.
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