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INDUSTRY FIRST

Safire Technology Group raised $8 million in a Pre-Series A funding round led by Canaan Partners to advance their innovative SAFIRE technology for lithium-ion battery safety.

Sep 21, 2024•11 months ago

Amount Raised

$8 Million

Round Type

series a

KnoxvilleManufacturing

Investors

Ma C Venture CapitalPotomac Angel CapitalOutpost VenturesAutomotive VenturesAjinomotoHigher Life VenturesCorrelation VenturesCanaan Partners

Description

Safire Technology Group announced $8 million in new financing led by Canaan Partners to support the development of their Safe, Impact-Resistant Electrolyte (SAFIRE) technology. This funding round brings total funding to $11 million and focuses on enhancing safety benchmarks in the lithium-ion battery industry.

Company Information

Company

Safire Technology Group

Location

Knoxville, Tennessee, United States

About

Safire Group is a venture-backed company developing advanced Li-ion battery technologies for government and automotive markets. The company's core technology, SAFe Impact Resistant Electrolyte (SAFIRE™), is the world's only patented and proprietary drop-in additive for Lithium-ion (Li-ion) batteries that prevents fire through an instantaneous liquid-to-solid transformation upon kinetic impact, such as an electric vehicle (EV) crash or ballistic event.

FundzWatch™ Score

73
Medium Activity

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