Tuesday, December 8, 2009

Imara Shuts Down After Running Out Of Funding

Menlo Park-based Imara, a startup developing Lithium ion batteries, has shut down, according to the firm's blog. The company said it had run "out of funds and out of time." The firm employed 38 at the time of shutdown. Imara was venture backed by Battery Ventures and Nth Power, to the tune of around $20M. Imara's technology was originally developed at the Stanford Research Institute. The shutdown was first noted by Earth2Tech.