Dyson sucks up Sakti3

UK-based vacuum cleaner developer Dyson has acquired Michigan University spinout Sakti3 for $90m.

Dyson is looking to integrate the US-based company’s solid-state lithium-ion technology into its cordless vacuums, and has previously been involved with supporting Sakti3’s development. Earlier in the year, Dyson led a $20m venture round into Sakti3 where it paid $15m itself, and was joined by Kholsa Ventures, investor Beringea, Japan-based conglomerate Iotchu, and General Motors – all of which are previous backers.

In total, Sakti3 has raised $50m in external funding since it launched in 2007. It raised $2m in a series A from 2009, and raised a further $11m in series B in 2010. It also secured $14m in a series B-1 in 2012, which wasn’t announced until the series C earlier this year, and a further $3m in grant funding.

James Dyson, founder of Dyson, told news provider USA Today that the technology could require investment up to $1bn to produce on an industrial scale, and that Sakti3’s home state of Michigan may be the home of the facility to manufacture the batteries.

Ann Marie Sastry, founder and CEO of Sakti3, said: “We are very fortunate indeed to join and become a contributor to not only Dyson, but hopefully help get solid-state battery technology out into commercial products much, much more quickly and efficiently.”