Total amount raised
$1.4 Billion
Latest funding date
06/01/2024
Location
Sila has successfully raised funds over 8 rounds, with the latest being a Series G round involving notable investors such as Sutter Hill Ventures and T. Rowe Price. The company specializes in advanced silicon anode battery technology, offering market-proven solutions that deliver exceptional energy density and fast charge improvements.
Keep reading to explore the intricacies of Sila's fundraising journey and the investors backing this innovative platform.
What Is Sila?
Sila Nanotechnologies Inc., based in Alameda, California, is a leader in advanced silicon anode battery technology. Founded by Prof. Gleb Yushin, the company specializes in manufacturing energy-dense lithium-ion batteries for electric vehicles and other applications.
Operating in industries such as battery technology, electric vehicles, electronics, manufacturing, and nanotechnology, Sila employs between 251 and 500 people. Their flagship product, the Titan Silicon Anode, offers exceptional energy density and fast charging capabilities, making it a market-proven solution backed by over a decade of research.
How Much Funding Has Sila Raised?
- Series A
- Amount Raised: USD 5,000,000
- Date: September 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their advanced silicon anode battery technology.
- Grant
- Amount Raised: USD 499,609
- 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: USD 70,000,000
- 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 product development.
- Series E
- Amount Raised: USD 170,000,000
- Date: April 2019
- Lead Investors: Mercedes-Benz Group AG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand partnerships and accelerate commercialization efforts.
- Series E
- Amount Raised: USD 45,000,000
- Date: November 2019
- Lead Investors: CPP Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance production capabilities and support ongoing research.
- Series F
- Amount Raised: USD 590,000,000
- Date: January 2021
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale manufacturing and meet increasing demand from automotive partners.
- Grant
- Amount Raised: USD 100,000,000
- Date: October 2022
- Lead Investors: US Department of Energy
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development of sustainable energy solutions and infrastructure.
- Series G
- Amount Raised: USD 375,000,000
- 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: USD 1,355,499,609. 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, healthcare, life sciences.
- Notable Investments: Pure Storage, Snowflake, Sumo Logic.
- T. Rowe Price Associates, Inc.
- Details: T. Rowe Price is a global investment management firm offering mutual funds, subadvisory services, and separate account management for individual and institutional investors.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Tesla, Amazon, Google.
- US Department of Energy
- Details: The US Department of Energy is a federal agency responsible for advancing the national, economic, and energy security of the United States.
- Investment Focus Areas: Energy-related technologies, innovations, and infrastructure.
- Notable Investments: Various energy startups and research projects.
- Coatue
- Details: Coatue is a global investment firm focused on public and private companies in the technology, media, and telecommunications sectors.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Snap Inc., DoorDash, ByteDance.
- CPP Investments
- Details: The Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds of the Canada Pension Plan.
- Investment Focus Areas: Real estate, infrastructure, private equity.
- Notable Investments: Ant Financial, Enbridge, Glencore.
What's Next for Sila?
As Sila looks to the future, the completion of their Moses Lake plant by Q1 2025 stands as a pivotal milestone. This facility will enable the delivery of their Titan Silicon anode material to automotive customers by Q4 2025, marking a significant step in the transition to fully electric vehicles. With secured contracts from industry giants like Mercedes-Benz and Panasonic, Sila is poised to make a substantial impact on the EV market.
The opportunities for growth are immense, with the Moses Lake plant expected to produce enough material to power up to a million cars per year. This expansion not only highlights the potential for future fundraising rounds but also underscores the importance of scaling production to meet global demand. However, Sila will need to navigate challenges such as meeting rigorous automotive quality standards and managing the scale-up process effectively.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Sila and gather other critical business insights. Sign up for free and unlock the potential of data-driven decision-making today.
