Group14 raises $400M Series C led by Porsche

Group14 Technologies

Group14 Technologies secured a $400 million Series C led by Porsche AG to accelerate production of its silicon-carbon anode material for lithium-ion batteries. The funding supports construction of a second commercial-scale factory in the US and addresses growing demand from automakers' electrification targets, with Porsche subsidiary Cellforce Group planning major purchases.

• $400M Series C led by Porsche AG with co-investors including OMERS Capital Markets and others.
• Funds break ground on second commercial-scale battery anode factory in the US.
• Cellforce Group (Porsche subsidiary) will be major customer for lithium-silicon battery cells in South Germany starting 2024.