Total amount raised
$1.4 Billions
Latest funding date
06/01/2024
Location
Sila has successfully raised $375 million in its latest funding round, bringing the total number of investors to 16, including notable names like Coatue and Perry Creek Capital. The company specializes in next-generation lithium-ion battery materials, particularly for electric vehicles.
Keep reading to explore the intricacies of Sila's fundraising journey and the investors backing this innovative platform.
What Is Sila?
Sila Nanotechnologies Inc., founded in 2011, is a leader in next-generation lithium-ion battery materials. Headquartered in Alameda, California, the company specializes in manufacturing energy-dense batteries for electric vehicles and consumer electronics.
The company was founded by Alex Jacobs, Gene Berdichevsky, Gleb Yushin, and Mike Speiser. With an employee count ranging from 251 to 500, Sila is committed to innovation and sustainability, offering products like the Titan Silicon anode to enhance battery performance.
How Much Funding Has Sila Raised?
- Series A
- Amount Raised: $5M
- Date: September 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and begin initial research and development of battery materials.
- Grant
- Amount Raised: $499.6K
- Date: August 2012
- Lead Investors: National Science Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage research and development efforts.
- Series D
- Amount Raised: $70M
- Date: August 2018
- Lead Investors: Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up production capabilities and advance battery technology.
- Series E
- Amount Raised: $170M
- Date: April 2019
- Lead Investors: Mercedes-Benz Group AG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand manufacturing capabilities and support partnerships with automotive companies.
- Series E
- Amount Raised: $45M
- Date: November 2019
- Lead Investors: CPP Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance production and meet increasing demand.
- Series F
- Amount Raised: $590M
- Date: January 2021
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development and commercialization of advanced battery materials.
- Grant
- Amount Raised: $100M
- Date: October 2022
- Lead Investors: US Department of Energy
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support sustainable energy initiatives and further research.
- Series G
- Amount Raised: $375M
- Date: June 2024
- Lead Investors: Sutter Hill Ventures, T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To complete the Moses Lake plant and deliver Titan Silicon anode material to automotive customers.
Total Amount Raised: $1.355B. Current Valuation: Not publicly disclosed.
Key Investors
- Sutter Hill Ventures
- Details: Sutter Hill Ventures is a venture capital firm that invests in early-stage technology companies. They have a long history of backing successful startups.
- Investment Focus Areas: Technology, early-stage startups.
- Notable Investments: Pure Storage, Snowflake.
- T. Rowe Price Associates, Inc.
- Details: T. Rowe Price is a global investment management firm offering mutual funds, subadvisory services, and separate account management. They cater to individual and institutional investors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Amazon, Google, Facebook.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that invests in early-stage, hyper-growth startups. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Shopify, Pinterest.
- Coatue
- Details: Coatue is a global investment manager focused on public and private companies in the technology, media, and telecommunications sectors. They are known for their strategic investments in high-growth companies.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Snap, ByteDance, DoorDash.
- Perry Creek Capital
- Details: Perry Creek Capital is an investment firm that focuses on growth equity and venture capital investments. They aim to support high-growth companies.
- Investment Focus Areas: Growth equity, venture capital.
- Notable Investments: Not publicly disclosed.
What's Next for Sila?
Sila's future looks promising with the completion of the Moses Lake plant by Q1 2025, enabling the delivery of Titan Silicon anode material to automotive customers by Q4 2025. This facility will have the capacity to power up to a million cars annually, marking a significant milestone in the electric vehicle industry.
As the demand for high-performance battery materials grows, Sila's technological advancements position them well for future fundraising opportunities to support further scaling and innovation. However, the company will need to navigate challenges such as meeting rigorous automotive standards and managing production scale-up to meet global demand.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Sila and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
