Electric Vehicle Battery Developer Sila Nanotechnologies Raises $ 590 Million for Next-Gen Batteries

A California-based company known as Sila Nanotechnologies stated that it raised approx $590 million in Series F funds with an after-cash valuation of 3.3 billion dollars. The main focus of the company is to replace graphite electrodes of conventional lithium ion batteries with silicon-based composite materials which give 20% more energy density as compared to the conventional lithium ion batteries.