Alsym Energy Announces $78M Funding Round Led by Tata Limited and General Catalyst
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Wednesday, April 3, 2024
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Alsym™ Energy , a developer of next-generation non-flammable rechargeable batteries for stationary storage, marine and mobility applications, announced a $78 million funding round jointly led by Tata Limited (a wholly-owned subsidiary of Tata Sons) and General Catalyst , a global venture capital firm.
Key Points:
- Alsym™ Energy , a developer of next-generation non-flammable rechargeable batteries for stationary storage, marine and mobility applications, announced a $78 million funding round jointly led by Tata Limited (a wholly-owned subsidiary of Tata Sons) and General Catalyst , a global venture capital firm.
- New York-based Thrive Capital and Toronto-based Thomvest also joined in the round, as well as existing investor Drads Capital .
- Alsym will use the funds to grow its Boston-area team and expand its prototyping and pilot lines to address increasing demand for customer samples.
- Alsym’s first product for this market, called Alsym Green, offers significantly higher system-level energy density than other non-flammable, non-lithium battery chemistries.