NanoGraf, a battery materials company announced a $65 million Series B funding round. Volta Energy Technologies and CC Industries co-led the funding round and witnessed participation from GIC, Emerald Technology Ventures, Material Impact, Arosa Capital, Nabtesco Technology Ventures, TechNexus, and existing investors Hyde Park Angels, Evergreen Climate Innovations, and Goose Capital.
The company has previously raised $27 million in venture capital. Till date, the company has raised more than $90 million in funding. NanoGraf intends to use the additional funding to accelerate the development of its advanced battery technologies and expand its manufacturing capabilities in order to meet the growing demand for high-performance batteries in a variety of industries.
The Series B funding is based on two significant announcements for NanoGraf. The company was awarded a $10 million contract by the US government in November 2022 to develop the Midwest’s first advanced silicon anode manufacturing facility.