Sila Raises $375M in Series G Funding
Summary
The round was led by Sutter Hill Ventures and funds and accounts advised by T. Rowe Price Associates, Inc., with participation from new outside investors as well as existing investors Bessemer Venture Partners, Coatue, Perry Creek Capital, and others. The company intends to use the funds to expand operations and its development efforts. Founded in 2011 and led by CEO Gene Berdichevsky, Sila is a battery materials company with the aim to empower the transition to clean energy. Sila’s Titan Silicon anode will next power electric vehicles, including an upcoming version of the Mercedes-Benz G-Class and will be used within Panasonic Energy’s lithium-ion batteries, which will also serve the automotive industry. Sila is scaling its technology at its manufacturing facility in Moses Lake, Washington.