# SES AI Corporation

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

- Industry: Energy Storage & Batteries
- Headquarters: Woburn, US
- Website: www.ses.ai
- Total disclosed funding: $196M
- Latest round: Series D (Apr 19, 2021)
- Investors on record: 13

## About

SES AI Corporation, based in the US, specializes in high-energy and high-power density lithium-metal and lithium-ion batteries, enhancing performance across electric vehicles, drones, and urban air mobility applications.Founded in 2012 and headquartered in Woburn, US, SES AI Corporation focuses on battery technology innovation. The company merged with Ivanhoe Capital Acquisition Corp. in February 2022, securing USD 200 mn from notable investors such as General Motors and Hyundai Motor Company. The founder, Qichao Hu, has previously engaged in entrepreneurial ventures within the tech industry.SES AI specializes in the development of high-energy density and high-power density lithium-metal (Li-Metal) and lithium-ion (Li-ion) batteries. Designed to enhance performance in urban air mobility, electric vehicles, drones, and robotics, SES AI's products leverage artificial intelligence for superior manufacturing and safety. Their flagship offerings include AI-enhanced electrolyte materials, providing innovative energy solutions to automotive OEMs and technology companies across North America, Europe, and Asia.SES AI generates revenue through contracts and partnerships with automotive OEMs, totaling agreements of up to USD 10 mn for AI-enhanced Li-Metal and Li-ion batteries. The company engages in B2B transactions, developing customized battery technologies through project-based contracts and long-term partnerships, particularly in the automotive and robotics sectors.In February 2022, SES AI Corporation finalized a merger deal to accelerate growth and invest in development initiatives. The funding will support the design and launch of new products aimed at expanding into markets such as electric vehicles and urban air mobility. This strategy focuses on strengthening their presence in North America, Europe, and Asia while enhancing their product portfolio with advanced battery technologies.

## Funding rounds

- Series D, Apr 19, 2021, $139M — Applied Ventures, Temasek Holdings, General Motors Co., SK, Vertex Ventures, SAIC Motor Corporation Limited
- Series C, Nov 28, 2017, $34M — Temasek Holdings, Applied Ventures, General Motors Co., Vertex Ventures China
- Series B, Jul 24, 2015, $6.7M — Beringea, Itochu, Khosla Ventures, Applied Ventures, General Motors Ventures, Vertex Ventures, Dyson Limited, Vertex Ventures China, SAIC Capital
- Series B, Jul 24, 2015, $11M — Applied Ventures, Vertex Ventures China, SAIC Capital
- Series A, Sep 24, 2013, $4.5M — Vertex Ventures China

## Investors

- Vertex Ventures China (https://capitalatlas.ai/funds/vertex-ventures-china) — Series A, Series B, Series C
- Beringea (https://capitalatlas.ai/funds/beringea) — Series B
- Itochu — Series B
- Khosla Ventures (https://capitalatlas.ai/funds/khosla-ventures) — Series B
- Applied Ventures (https://capitalatlas.ai/funds/applied-ventures) — Series B, Series C, Series D
- General Motors Ventures (https://capitalatlas.ai/funds/general-motors-ventures) — Series B
- Vertex Ventures (https://capitalatlas.ai/funds/vertex-ventures) — Series B, Series D
- Dyson Limited — Series B
- SAIC Capital (https://capitalatlas.ai/funds/saic-capital) — Series B
- Temasek Holdings — Series C, Series D
- General Motors Co. — Series C, Series D
- SK — Series D
- SAIC Motor Corporation Limited — Series D