GM Leads $17M Envia Round

Envia Systems, a Newark, CA-based startup developing cathodes for high-capacity lithium ion batteries for electric and hybrid vehicles, said today (PDF) that it has raised $17 million in Series C financing. General Motors’ venture investment wing, GM Ventures, put $7 million into the deal; the rest came from new investors Asahi Kasei and Asahi Glass and existing investors Bay Partners, Redpoint Ventures, and Pangaea Ventures. In a separate announcement, Envia said that it has started shipping sample quantities of its manganese-rich cathode material for testing by potential customers. As part of its investment, GM has secured rights to use the material.

Wade Roush is the producer and host of the podcast Soonish and a contributing editor at Xconomy. Follow @soonishpodcast

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