Ann Arbor's Sakti3 raises $7M in investment financing

Thursday, April 8, 2010 | Source: Concentrate

Sakti3 is making headlines again. This time it's from a multi-million dollar investment in a lithium-ion battery company out of Ann Arbor.

Excerpt:

Sakti3 is attracting more and more capital these days now that it has successfully raised $7 million in investment capital.

A host of venture capital firms, including Farmington Hills-based Beringea, came up with the cash for the developer of next-generation lithium-ion batteries. The Ann Arbor-based company's technology will be used primarily for electric vehicles and also portable electronics.

"The Sakti3 team is one of the most advanced battery teams in the world," says Jeff Bocan, managing director at Beringea. "In the last three years it has been focused only on developing these batteries."

Read the rest of the story here.