Ionblox increases Series B to $32m with investment from Lilium, Applied Ventures, Temasek and Catalus Capital
8.2.2023 17:00:00 EET | Business Wire | Press release
Ionblox, a next-generation lithium-ion battery company announced a second close of its Series B round at an increased $32 million. Strategic partners include original investors Lilium and Applied Ventures who were joined by Temasek and Catalus Capital. The company will use the increased Series B funding to scale its technology, develop advanced high-power cells for electric aviation, and prototype fast-charge cells for Electric Vehicles.
The company’s batteries are developed with high-performance lithium-ion cells that have pre-lithiated silicon dominant anodes. The batteries can address the most demanding use cases such as electric Vertical Take-off and Landing Aircrafts or eVTOL. Ionblox’s pre-lithiated Silicon anode technology enables a groundbreaking combination of up to 50% higher energy density, 5X more power, and an extreme fast charge of 10 minutes compared with conventional lithium-ion cells. Ionblox is currently producing its large format pouch cells of up to 50Ah on its pilot production lines.
“Here at Ionblox, we are commercializing next-generation lithium-ion batteries with pre-lithiated silicon dominant anodes in order to transform the future of electric mobility,” said Sujeet Kumar, chief executive officer at Ionblox. “The funding from this round will enable us to take an important step in our journey to scale our technology and set up our own cell manufacturing in the U.S. and other key markets.”
“The Ionblox technology enables one of the highest performance cells for eVTOL aircraft existing today and we’re proud to partner with Ionblox for our conforming aircraft. Test results to date are showing the technology will deliver not only superior energy and power density for the Lilium Jet at launch but also very good aging performance. We’re excited to continue our work together to support the continuous improvement and the ongoing industrialization of the technology,” said Yves Yemsi, chief operating officer of Lilium.
To commercialize its next-generation technology, Ionblox has received a development contract from USABC to develop low-cost, fast-charge electric vehicle batteries where its cell performance has been verified by Idaho National Lab and is also partnering with leading semiconductor equipment manufacturer Applied Materials.
About Ionblox
Founded in Fremont, California in 2017, Ionblox (previously known as Zenlabs) is a next-generation energy company transforming the future of mobility by land and air. The company has more than 40 issued patents, including for the pre-lithiation of all types of silicon-based anodes. Ionblox’s proprietary pre-lithiated silicon anode and cell design enable multiple performance attributes – fast charging, high energy, high power, and long life at low cost – pushing the limits of traditional battery storage technology and unlocking the viability of widespread electric transportation. Ionblox is leading the electric mobility revolution by delivering superior technology and enabling electric vehicle (EV) and electric vertical take-off and landing vehicle (eVTOL) companies to achieve their goals. Ionblox’s investors include Lilium, Applied Ventures, Temasek and Catalus Capital.
Learn more about Ionblox and how it is transforming the future of electric transportation at www.ionblox.com and LinkedIn (@Ionblox).
Learn more about Lilium at www.Lilium.com; about Applied Ventures at www.appliedmaterials.com/us/en/applied-ventures.html , about Catalus Capital at www.cataluscapital.com; about Temasek at www.temasek.com.sg
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230208005081/en/
Contact information
Media Contact:
Alex Autry
Silverline
(240) 346-8136
alex@teamsilverline.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Sharjah Advocates More Dominant Role for Women in Technology under 2050 Roadmap24.9.2026 19:38:00 EEST | Press release
As artificial intelligence reshapes global economies, the UAE is placing women at the heart of its global ambitions positioning them not only as participants, but as key contributors to the AI future. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924186173/en/ Women leaders and technology experts during a session at the Women in Technology 2026 Forum in Sharjah (Photo: AETOSWire) The message was echoed by Her Highness Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Research, Technology and Innovation Park (SPARK), who urged women to move beyond participation in technology to playing a leading role in shaping the future. Addressing the seventh edition of the Women in Technology 2026 Forum, hosted by SPARK on the theme “The 2050 Mindset,” HH Sheikha Bodour said: “2050 may seem far away, but it is being shaped by the decisions we make, the research we fund and the technologies we develop today. Women must t
MultiBank Group Founder and Chairman Naser Taher Named Financial Leader of the Year at Gulf Business Awards 202624.9.2026 18:39:00 EEST | Press release
Naser Taher, Founder and Chairman of MultiBank Group, one of the world’s largest financial derivatives institutions, was named Financial Leader of the Year at the Gulf Business Awards 2026. Presented during a ceremony held on 23 September at The Ritz-Carlton JBR, Dubai, the award was part of the Editor’s Choice category. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924454616/en/ Naser Taher, Founder and Chairman of MultiBank Group, one of the world’s largest financial derivatives institutions, was named Financial Leader of the Year at the Gulf Business Awards 2026 The recognition comes after Taher lead the expansion of MultiBank Group for more than two decades, from its founding in 2005 to a financial institution serving more than four million clients across 100 countries today. Under his leadership, the Group has built a presence under more than 18 financial regulators across five continents and recorded daily trading
Multiple Industry Honors Reinforce CSG/Netcracker Leadership in Customer Journey Orchestration and AI Innovation24.9.2026 18:05:00 EEST | Press release
The next phase of customer experience hinges on how well brands turn customer data into relevant communications, real-time action, and responsible, proven AI use. CSG® and Netcracker Technology today announced that CSG has been named a Leader in The Forrester Wave™: Customer Journey Orchestration Platforms, Q3 2026, with the highest possible scores in 19 of 23 Forrester Wave™ criteria. CSG Xponent, a best-in-class customer engagement platform, helps brands land timelier, more relevant communications that drive customer action, secure loyalty, and bolster measurable business results. The Forrester Wave™: Customer Journey Orchestration Platforms states that, “CSG earns superior scores across the core journey intelligence and orchestration capabilities that define this market. Its excellent journey simulation, predictive intelligence, and decisioning capabilities help organizations evaluate likely outcomes before introducing changes into live journeys, improving decision confidence and re
Vasion Ⓡ Enhances Global Partner Program to Accelerate AI-Powered Automation24.9.2026 17:05:00 EEST | Press release
VasionⓇ, the Intelligent Print Automation platform trusted by more than 14,000 organizations worldwide, today unveiled a comprehensive refresh of its Global Partner Program. The program delivers the resources partners expect from Vasion: always-on incentives, structured onboarding, elevated enablement, and a rebuilt portal experience, all engineered to help partners scale, compete, and deliver stronger customer outcomes as agentic AI reshapes how enterprises automate work. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924791639/en/ Agentic print and document workflow environments remain an overlooked channel opportunity, as enterprises race toward agentic automation. IDC forecasts that by 2026, 40% of all Global 2000 job roles will involve working with AI agents, redefining long-held traditional entry-level, mid-level, and senior-level positions [1]. IDC's research points to this new class of AI reshaping not just how fa
The Only AI Crypto Lead Prioritization Solution Built With Law Enforcement, for Law Enforcement: Elliptic Launches Pulse24.9.2026 16:15:00 EEST | Press release
Elliptic, the global leader in on-chain risk, today launched Pulse. Pulse puts crypto lead prioritization directly in the hands of every frontline law enforcement and government officer. Crypto now touches every part of law enforcement, from the patrol officer on the street to the detective assigned to investigate the case. Pulse gives each of them a quick, accurate financial summary and a starting point: whether that's a crypto address on a suspect's phone, in a scam ATM victim's receipt, uncovered during a vehicle or pocket search, or found at the scene of an overdose, an arrest, or a seizure. An officer can input anything that looks like a wallet address or transaction hash. Pulse identifies it, reasons over the result, and returns a summary in plain language, enough for the officer to decide on the spot whether the case needs escalation. If a case needs further investigation, one click sends the full analysis forward, not just the evidence. The criminal investigations division gets
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom