TaiSan has secured £4.65 million in seed funding, with Eos Advisory and Mercia Ventures leading the round through the Midlands Engine Investment Fund II. The company plans to use the money to develop lighter solid-state sodium-ion batteries for e-bikes, scooters, and power tools.
Ten investors joined the round, along with a grant from Innovate UK. The founder said the company’s “most exciting breakthroughs” are still under wraps.
This investment comes after the recent collapse of Natron Energy, a well-funded US sodium-ion competitor.
TaiSan, the Cambridge-based startup, has raised £4.65 million to develop solid-state sodium-ion batteries for e-bikes, scooters, vehicles, and power tools. Eos Advisory and the Midlands Engine Investment Fund II, managed by Mercia Ventures, led the round.
Innovate UK added £700,000 in grant funding through its Investor Partnerships Programme. In total, 10 investors took part.
