Solid state battery developer Sakti3 had raised about $50m from investors including General Motors, Itochu and Dyson, now its new owner.

Cleaning and climate management equipment manufacturer Dyson has acquired one of its corporate venturing portfolio companies, US-based solid-state battery technology developer Sakti3, for $90m.

The acquisition, originally reported by Quartz last week before being confirmed by Dyson on Monday, provided exits to investors also including trading conglomerate Iotchu and automotive manufacturer General Motors.

Founded in 2007 as a spinout from University of Michigan, Sakti3 is developing technology for solid-state batteries, which would potentially have greater energy density than the lithium-ion…