Cambridge Enterprise has contributed to a $1.9m funding round for its spinout Echion Technologies.
Echion Technologies, a UK-based battery technology spinout of University of Cambridge, today received £1.5m ($1.9m) in funding from a consortium that included tech transfer office Cambridge Enterprise.
Investment firms Origin Capital and Newable Private Investing also took the part, with the latter contributing through a range of vehicles, though only the Newable Ventures ScaleUp Fund 2018 was named.
Founded in March 2017, Echion Technologies is developing superfast charging lithium-ion battery cells for applications such as electric vehicles. The superfast charging capability is achieved through a proprietary anode material and does not negatively affect battery energy or density.
The funding, together with a grant from Innovate UK, will allow the spinout to demonstrate a vehicle-ready battery cell within 18 months.