Sonocharge Energy, a company that develops solutions to improve battery performance, raised $23.5 million in funding. The funding round was led by ClimateTech venture capital firm Cycle Capital, with the participation of Honda and current investors, including Khosla Ventures, Temasek, and non-dilutive funding partners.
The funding is expected to help grow the company’s team in its new location in Silicon Valley and help accelerate the commercial deployment of its solutions with EV and battery manufacturers to extend the range and performance of batteries.
“We are pleased to see Cycle Capital and Honda join our current investor syndicate. We’re grateful to be supported by such a strong group of investors who bring invaluable resources, experience, and commercial partnerships crucial to scaling our company. This funding will enable us to advance core R&D and work closely with our customers to optimize their specific use cases and prepare for manufacturing,” said An Huang, CEO of Sonocharge Energy.
According to the company, they have developed a device that uses acoustic waves to improve battery performance. The device is made on a small wafer and is attached to a flexible circuit, which is inserted underneath the battery module during manufacturing. When activated, acoustic waves help balance lithium ions, reducing issues like lithium plating and dendritic formation and providing a lower-cost solution that extends battery life for e-mobility and various energy storage applications.
According to Mercom’s Annual and Q4 2024 Funding and M&A Report for Energy Storage and Smart Grid, Venture Capital funding in the Energy Storage sector in 2024 decreased 60% YoY, with $3.7 billion in 84 deals compared to $9.2 billion in 86 deals in 2023.
In December, Zitara, a battery management software provider, closed $17 million in a Series AA funding round led by Salesforce Ventures, with participation from Emerson Ventures, Chevron Technology Ventures, Energy Impact Partners, and Climate Capital.
