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Sila raises USD 375 million in Series G funding to deliver Titan Silicon for automotive production
EV Economy
Jun 28, 2024
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Jun 28, 2024

Sila raises USD 375 million in Series G funding to deliver Titan Silicon for automotive production

Funding

  • Sila Nanotechnologies, a developer of silicon anode material for EV batteries, has raised USD 375 million in a Series G funding round led by its existing investors, Sutter Hill Ventures and T. Rowe Price Associates, with participation from new and existing investors including Bessemer Venture Partners, Coatue, and Perry Creek Capital.

  • The funding will enable Sila to complete its Moses Lake manufacturing facility in Q1 2025 and begin supplying Titanium Silicon to automotive customers such as Mercedes-Benz, Panasonic, and three other undisclosed customers in Q4 2025. 

  • The material is designed to replace graphite anodes in lithium-ion batteries, improving energy density by up to 40% and enabling faster charging times of less than 10 minutes.

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