GM Ventures and Itochu Technology Ventures invest $4.2m in lithium-ion battery maker Sakti3.
US-based car maker General Motors’s corporate venturing division has made its second investment by joining a consortium with Japan-based conglomerate Itochu to back Sakti3.
GM Ventures and Itochu Technology Ventures, the Japanese company’s US-based venture subsidiary, have invested an aggregate $4.2m, reportedly split $3.2m and $1m respectively according to newswire Bloomberg, in lithium-ion battery maker Sakti3.
They join venture capital firms Khosla Ventures and Beringea, which previously invested $7m in Sakti3, whose batteries are used in electric vehicles, according to…
