Chemix raises $20M in Series A funding led by Ibex Investors for AI-powered EV battery development

Apr 24, 2024•over 1 year ago

Amount Raised

$20 Million

Round Type

series a

SunnyvaleBatteryAutomotiveManufacturing

Investors

Ibex Investors

Description

Chemix, an AI-powered EV battery developer, has completed a $20 million Series A funding round led by Ibex Investors. The funding will be used to scale the startup's technology, which uses algorithms to design and optimize novel batteries for electric vehicle makers, aiming to speed up battery development for more efficient and longer-lasting EVs.

Company Information

Company

Chemix

Location

Sunnyvale, California, United States

About

Chemix is using AI to develop breakthrough EV battery technologies. Today’s battery development is slow, labor-intensive, and expensive. With AI, Chemix can reduce development time by 10x. Chemix’s battery designs are compatible with existing Li-ion battery manufacturing capacity, enabling a seamless transition of customers’ battery R&D to volume production.

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