CEC Capital has led a $24m Series B round into US-based Enevate, a rechargeable energy storage technology backed by Presidio Ventures, a corporate venturing unit of Sumitomo.
CEC Capital, formerly Shanghai Hua Hong International USA, which is backed by China Electronics, an electronics conglomerate, has led an $24m series B round into US-based Enevate Corp, a developer of rechargeable lithium-ion batteries. There was also involvement from new investors Tsing Capital, a cleantech venture capital management firm and Presidio Ventures, the wholly owned early stage investment vehicle of Sumitomo Corporation. Existing investors Mission Ventures and Draper Fisher Jurvetson also participated.
The new funds will be used by Enevate, formally known…
