Coatue and T. Rowe Price Funds Anchor $590m Investment in Sila Nanotechnologies
Jan 26, 2021
Sila Nanotechnologies (“Sila Nano”), a next-generation battery materials company, announced that it raised $590 million Series F funding at a $3.3 billion post-money valuation. The new funding comes as the first Sila Nano-powered batteries prepare to ship in consumer devices and the company scales up its production to serve growing demand from smartphone and automotive customers. Coatue led the round with significant participation by funds and accounts advised by T. Rowe Price Associates, Inc. In addition, existing investors 8VC, Bessemer Venture Partners, Canada Pension Plan Investment Board, and Sutter Hill Ventures also participated in the round.