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 quicker 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 assist the corporate via its progress section 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 expertise can facilitate electrification by bettering efficiency and scale its deployment.”
“Sonocharge Power has an modern expertise that permits longer battery life and quicker charging. This expertise 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 expertise as longer battery life will assist to scale back environmental influence and enhance comfort for EV customers. Honda will proceed to find, collaborate with, and put money into modern ventures resembling Sonocharge Power via Honda Xcelerator Ventures1, our international 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 powerful group of traders that carry invaluable sources, expertise, and business 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 exams demonstrating considerably improved efficiency with lithium-ion batteries utilizing Sonocharge Power’s expertise. This new funding will allow the corporate to develop its staff in its new location in Silicon Valley and speed up the business deployment of its options with key EV and battery producers to increase the vary and efficiency of batteries.
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