Battery pioneer raises $20million
Li-ion battery manufacturer, Leyden Energy has secured $20million in a Series B funding round led by New Enterprise Associates.
The Californian company will use the new capital to expand production of its next generation Li-ion batteries, increase company staff and fund its future development of advanced battery technologies.
"Market demand for high performance, long lasting batteries in consumer electronics is growing, and Leyden Energy is perfectly positioned to answer that demand and improve the customer experience for product manufacturers worldwide," said Aakar Patel, company president and ceo.
Leyden's patented and proprietary cell technology is said to address the shortcomings of previous generations of Li-ion products by offering improved energy density, superior product life and optimal safety at high temperatures.
