Ionblox (previously known as Zenlabs Energy), a high-performance lithium-ion cell company, has closed a $24 million Series B funding round with investors including Applied Ventures, LLC, Catalus Capital, and eVTOL jet developer Lilium.
The company will use the investment to continue scaling operations and increasing manufacturing capabilities as it ramps up production in the United States. Ionblox will also invest in the hiring and further expansion of the team, including manufacturing talent.
“Ionblox has launched the only commercially scalable battery with a silicon dominant anode that can simultaneously provide high energy, high power, 1,000 fast charge cycles, and a clear path to low-cost production today,” said Sujeet Kumar, chief executive officer of Ionblox. “Our unique batteries can be scaled up with low risk and at a competitive cost, because we use commercially available materials and proven production processes and equipment, rather than costly and hard-to-scale proprietary materials.”
According to Ionblox, it has addressed the challenges of using silicon as an active material, including swelling and irreversible capacity loss, and created a cell design that can uniquely deliver the key performance attributes that automotive and aviation applications require, namely high energy, high power, fast charging, high cycle life, and low cost.
The company’s batteries are designed for high performance automotive and aviation applications, where the combination of these features can drive the electrification of transportation.
“The long-term success of the eVTOL regional air mobility revolution depends on the continued development of high-performance batteries,” said Yves Yemsi, chief operating officer of Lilium. “After an extensive review we believe that Ionblox’s pouch cell technology will be very well positioned to achieve superior combined performance for high power and high energy density, and we are very excited to continue our joint development.”
“Applied Ventures is very impressed with the tremendous progress Sujeet and the Ionblox team have made developing silicon anode batteries in collaboration with Applied Materials, Lilium and EV companies,” said Anand Kamannavar, global head of Applied Ventures. “We look forward to supporting Ionblox in accelerating commercialization of its next-generation batteries.”