Singapore State Investor Joins Lithium-ion Battery Firm’s Series B Funding

Ionblox, a next-generation lithium-ion battery company announced a second close of its Series B round at an increased US$32 million. Strategic partners include original investors Lilium and Applied Ventures who were joined by Singapore’s state investment unit Temasek and Catalus Capital.

The company will use the increased Series B funding to scale its technology, develop advanced high-power cells for electric aviation, and prototype fast-charge cells for electric vehicles.

The company’s batteries are developed with high-performance lithium-ion cells that have pre-lithiated silicon-dominant anodes. The batteries can address the most demanding use cases such as electric Vertical Take-off and Landing aircraft or eVTOL.

Ionblox’s pre-lithiated Silicon anode technology enables a groundbreaking combination of up to 50% higher energy density, 5X more power, and an extreme fast charge of 10 minutes compared with conventional lithium-ion cells. Ionblox is currently producing its large format pouch cells of up to 50Ah on its pilot production lines.

“Here at Ionblox, we are commercializing next-generation lithium-ion batteries with pre-lithiated silicon dominant anodes in order to transform the future of electric mobility,” said Sujeet Kumar, chief executive officer at Ionblox. “The funding from this round will enable us to take an important step in our journey to scale our technology and set up our own cell manufacturing in the U.S. and other key markets.”

To commercialise its next-generation technology, Ionblox has received a development contract from USABC to develop low-cost, fast-charge electric vehicle batteries where its cell performance has been verified by Idaho National Lab and is also partnering with leading semiconductor equipment manufacturer Applied Materials.

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