Sila Secures $375M to Advance Titan Silicon™ for Automotive Production
Sila, a pioneer in next-generation battery materials, has successfully closed its Series G funding round, raising a substantial $375 million. This round was led by existing investors Sutter Hill Ventures and funds and accounts advised by T. Rowe Price Associates, Inc., with participation from new and returning investors including Bessemer Venture Partners, Coatue, Perry Creek Capital, and others. The funds will be instrumental in completing Sila's Moses Lake manufacturing plant by the first quarter of 2025, enabling the delivery of its innovative Titan Silicon anode material to automotive customers by the fourth quarter of 2025.

This new injection of capital comes as Sila continues to demonstrate its technical prowess and market adoption of Titan Silicon, a high-silicon anode capable of replacing most or all of the graphite in a lithium-ion cell. The funding will facilitate the scale-up of Sila's operations, ensuring that the company meets the rigorous quality and reliability standards required by the automotive industry. The construction of Sila's Moses Lake plant remains on schedule, with the facility poised to deliver sufficient capacity to meet the demands of multiple customers. Future expansions at the site will enable Sila to produce enough material to power up to one million electric vehicles per year.
Gene Berdichevsky, Co-founder and CEO of Sila, emphasized the significance of the transition to electric vehicles. "Our investors share the perspective that the world will transition to fully electric," he stated. "Every automaker knows the future must be electric and realizes that the path to broader adoption isn't through cost reduction alone. To transform the world and meet consumer expectations, the industry needs to take the next big step on battery performance and charging speeds. With Sila, automakers can deliver next-generation EVs that will win over those who expect more from their electric experience."
Joseph Fath, a portfolio manager at T. Rowe Price Associates, Inc., praised Sila's consistent performance. "We have observed Sila's steady execution since we first invested in the company in 2021. With its disciplined focus on manufacturing and quality, we believe Sila has the persistence and durability to meet future global demand and be a market leader for the long haul."
Titan Silicon, which was the first commercial next-generation silicon anode technology to enter the market in 2021, offers up to a 20-25% energy density improvement over the best performing graphite cells in the industry. This advancement enables automakers to enhance EV performance significantly, increasing vehicle range and reducing charge times—key factors in addressing consumer concerns about switching to electric. Future iterations of Titan Silicon are expected to deliver up to a 40% improvement in energy density, reduce recharge times to under 10 minutes, and lower the $/kWh cost of batteries.
Ardea Partners LP served as the exclusive financial advisor to Sila for its Series G round.
To learn more about Sila's advancements and products, visit silanano.com.
About Sila
Founded in 2011, Sila is dedicated to powering the world's transition to clean energy with its next-generation battery materials. In 2021, Sila shipped the world's first commercially available silicon anode for lithium-ion batteries, enhancing battery performance in multiple consumer electronics devices. Sila's Titan Silicon anode will soon be utilized in electric vehicles, including an upcoming version of the Mercedes-Benz G-Class, and in Panasonic Energy's next-generation lithium-ion batteries designed for the automotive industry. Committed to American leadership in clean energy production, Sila is scaling its technology at its manufacturing facility in Moses Lake, Washington. Major financial backers include 8VC, Bessemer Venture Partners, Canada Pension Plan Investment Board, Coatue, Matrix Partners, Sutter Hill Ventures, and funds and accounts advised by T. Rowe Price Associates, Inc.