Global Infrastructure SherpaFactorial Energy Secures $200 Million Series D Funding Round
Factorial Energy, a developer of solid-state battery technology for electric vehicles, raised $200 million in a Series D funding round. The investment will support the company's efforts to scale up production and commercialize its battery technology.
Source Intelligence
Factorial is constructing a state-of-the-art pilot production facility that will be located in the New England area and the construction is scheduled to start in early 2022. Factorial’s technology offers a high level of operational safety and extends driving range up to 50 percent, addressing two key factors to broad consumer adoption.
"Factorial Energy (Factorial) has raised $200 million as part of a Series D round of funding"
"that was led by Mercedes-Benz (DAI) and Stellantis N.V."
"that was led by Mercedes-Benz (DAI) and Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA)."
"Centerview Partners LLC served as financial advisor"
"Wilmer Hale acted as legal counsel to Factorial Energy."
"The company has Joint Development Agreements (announced in late 2021) with Mercedes-Benz, Stellantis and Hyundai, three of the top 10 global automotive manufacturers, to commercialize Factorial’s batteries."
"The company has received strategic investments from, and entered into Joint Collaboration Agreements with, Mercedes-Benz, Stellantis, Hyundai Motor Company and Kia Corporation."