Wednesday, August 3, 2011

Leyden Energy Raises $20M

Fremont-based Leyden Energy, a manufacturer of lithium ion batteries, announced Wednesday that it has raised $20M in a Series B financing round. The round was led by New Enterprise Associates, and also included current investors Lightspeed Ventures, Sigma Partners and Walden International. Leyden's batteries are using the consumer electronics, electric vehicle, and energy storage markets. The firm said the funding will go towards expanding production, staff, and fund future development. NEA's Ron Bernal has joined the company's board as part of the funding. More information »