All Funding Startup News in Korea (Korean Startup News)

Solivis Raises KRW 20 Billion in Series B for Solid Electrolyte Innovation

2024-03-19 2 min read


Solivis Raises KRW 20 Billion in Series B for Solid Electrolyte Innovation

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Solivis, a South Korean specialist in sulfide-based solid electrolytes, has successfully secured KRW 20 billion in Series B funding from prominent domestic conglomerates and institutional investors.

These investors include the Korea Technology Finance Corporation (KIBO), Korea Exchange (KOSPI)-listed companies, venture capital firms, securities firms, and financial institutions.

Established in 2020, Solivis had previously raised Series A funding in 2021, investing a total of KRW 15 billion to set up a central research institute and a pilot production facility. Following the Series B funding, the company is concentrating its efforts on establishing a facility for mass production.

Solivis is distinguished by its solid electrolytes, which are known for their top-tier ionic conductivity, and the company’s proprietary synthesis method is expected to secure a competitive advantage in cost-efficiency. With this round of funding, Solivis is well-prepared to accelerate the construction of a mass production plant and expand its pilot production facilities. The company also plans to bolster its R&D capabilities and workforce, aiming to broaden its market reach to secondary battery manufacturers and automotive OEMs.

Shindong Wook, CEO of Solivis, expressed confidence in the company’s future, stating, “Despite facing the most challenging investment environment recently, securing Series B funding represents a significant achievement. It validates our solid electrolyte mass production technology for secondary batteries as a leading innovation poised to dominate the market. We are determined to achieve our goal of becoming the global leader in the all-solid-state battery materials sector by 2030.”

Solivis holds numerous patents and has developed world-class proprietary technology for the mass production of solid electrolytes. CEO Shindong Wook is celebrated as a leading authority in the fields of all-solid-state batteries and solid electrolytes, having devoted over two decades to research in these areas as a professor in the Department of Materials Science and Engineering at Hanyang University.

[Korean Materials Startup News]

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