# Enovix Corporation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/enovix

- Industry: Energy Storage & Batteries
- Headquarters: Fremont, US
- Website: www.enovix.com
- Total disclosed funding: $17M
- Latest round: Series C (Mar 7, 2012)
- Investors on record: 2

## About

Enovix Corporation, based in the US, is a technology company specializing in the development and production of advanced lithium-ion batteries utilizing an innovative silicon anode architecture to enhance performance and energy density.Founded in 2007 and headquartered in Fremont, US, Enovix Corporation focuses on cutting-edge battery technology. In November 2023, the company completed a PIPE funding round, raising USD 175.00 mn, matching the total amount raised to date. The current CEO is Harrold Rust. The firm has completed 10 deals since its inception, with the most recent deal being on November 18, 2023.Enovix specializes in the development and production of innovative lithium-ion batteries utilizing a 100% active silicon anode architecture. This technology enhances the energy density and performance of batteries, making them particularly well-suited for next-generation devices such as mobile phones, wearables, and enterprise-grade equipment that require robust energy solutions. By focusing on fast charging capabilities, improved thermal dissipation, and enhanced safety features, Enovix aims to address the evolving power needs of professionals in various industries. Their products are designed to unlock greater runtime and performance for end-users across global markets including North America, Europe, and Asia. The company’s client base comprises original equipment manufacturers (OEMs) and technology firms looking to integrate advanced battery technology into their devices.Enovix reported revenue of USD 23.07 mn for the year 2024. The company recorded an EBITDA loss of USD 197.71 mn for the same period. Enovix's revenue model centers around partnerships and direct sales to businesses, particularly those in the technology and electronics sectors. Clients engage in transactions that typically involve bulk orders of Enovix batteries, which are tailored to meet specific performance and capacity requirements for their products. The firm collaborates closely with clients to ensure seamless integration of its battery solutions, thus fostering long-term business relationships.Enovix Corporation is focused on future growth through a strategic acquisition and product development. In September 2023, the company agreed to acquire Routejade Inc. for USD 16.5 mn in cash and 6,183,862 shares of Enovix Corporation. This acquisition aims to enhance Enovix's product portfolio and expand its technological capabilities. The recent funding round will support these initiatives, allowing the company to accelerate its product development and enhance its market presence.

## Funding rounds

- Series C, Mar 7, 2012, $13M — Sofinnova Investments, DCM
- Series C, Mar 31, 2011, $1.9M — Sofinnova Investments
- Series A, Feb 23, 2007, $2.3M — DCM

## Investors

- DCM (https://capitalatlas.ai/funds/dcm) — Series A, Series C
- Sofinnova Investments (https://capitalatlas.ai/funds/sofinnova-investments) — Series C