Chemix Raises $20M in Funding to Expand AI/ML, Software, and Battery Development
Chemix Closes $20M Series A Funding
Chemix Raises $20M in Series A Funding
Key Highlights:
- Series A Funding: Chemix, an EV-battery developer, raised $20 million in Series A funding.
- Investors: Funding led by Ibex Investors, with participation from Mayfield Fund, Berkeley SkyDeck, Urban Innovation Fund, BNP Paribas Solar Impulse Venture Fund (SIVF), Global Brain’s KDDI Open Innovation Fund III (KDDI CVC), and Porsche Ventures.
- Expansion Plans: Funds will be used to expand the team in AI/ML, software, and battery development, as well as sales and marketing.
Chemix's Target Market
- Target Market: Electric vehicle (EV) manufacturers and companies in the EV battery industry.
- EV Battery Manufacturers: Chemix's battery designs are compatible with existing Li-ion battery manufacturing, providing a transition from R&D to pilot and high-volume production.
- APAC and EU Markets: Focus on rapidly growing markets in the Asia-Pacific (APAC) and European Union (EU) regions.
What Chemix Needs to Buy
- Talent Acquisition: Hiring AI/ML experts, software developers, battery engineers, and sales and marketing professionals.
- Research and Development Partnerships: Collaborating with research institutions and industry experts for battery development and innovation.
- Manufacturing and Supply Chain Solutions: Establishing partnerships with manufacturers and suppliers for high-volume production and efficient supply chain management.