Sonocharge Energy – an innovative tech company enabling batteries to last longer, charge faster, and be safer – announced $23.5 million financing round led by Cycle Capital, with participation of Honda, current investors Khosla Ventures, Temasek, and non-dilutive funding partners.
This marks a major milestone for the company and comes on the heels of customer-funded lab tests demonstrating significantly improved performance with lithium-ion batteries using Sonocharge Energy’s technology. And this new funding will enable the company to grow its team in its new location in Silicon Valley and accelerate the commercial deployment of its solutions with key EV and battery manufacturers to extend the range and performance of batteries.
KEY QUOTES:
“Sonocharge Energy is the first investment out of our Fund V, a venture growth fund focused on electrification, power electronics and photonics. We’re thrilled to partner with Honda, Khosla Ventures and Temasek to support the company through its growth phase as it is accelerating the commercialization of its solutions in a wide range of applications. As we’re actively looking at deploying $350 million in the ClimateTech sector in the next few years, Sonocharge Energy is an exemplary case of how technology can facilitate electrification by improving performance and scale its deployment.”
– Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital
“Sonocharge Energy has an innovative technology that enables longer battery life and faster charging. This technology uses acoustic waves to significantly increase the charge cycle life of batteries, and Honda has high hopes for its potential. To Honda, this is a useful technology as longer battery life will help to reduce environmental impact and improve convenience for EV users. Honda will continue to discover, collaborate with, and invest in innovative ventures such as Sonocharge Energy through Honda Xcelerator Ventures1, our global program for open innovation.”
– Manabu Ozawa, Managing Executive Officer of Honda Motor
“We are pleased to see Cycle Capital and Honda join our current investor syndicate. We’re grateful to be supported by such a strong group of investors that bring invaluable resources, experience, and commercial partnerships crucial to scaling our company. This funding will enable us to advance core R&D, and work closely with our customers to optimize for their specific use case and prepare for manufacturing.”
– An Huang, CEO of Sonocharge Energy
