# Soelect

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

- Industry: Energy Storage & Batteries
- Headquarters: Greensboro, US
- Website: www.soelect.com
- Total disclosed funding: $11M
- Latest round: Series A (Feb 3, 2022)
- Investors on record: 3

## About

Based in Greensboro, US, and founded in 2018, Soelect Inc. is a developer and manufacturer of advanced solid-state battery components to power the next generation of electric vehicles. In June 2020, Soelect Inc. raised USD 1 million in seed funding, and in February 2022, it raised USD 11 million in Series A funding led by new investor LOTTE Ventures, with participation from other new investors KTB Network and General Motors Ventures. The Series A funding valued the company at USD 46.318 million post-money. In the same year, 2022, Soelect moved from lab-scale to pilot-line for its LiX technology and Solid Electrolyte Membrane. The company is led by founder and CEO, Sung-Jin Cho.

Soelect offers LiX™ (Lithium-X) anode technology and polymer-based solid-state electrolyte membranes for high energy density and batteries used in electric vehicles, consumer electronics, power tools, drones, aviation, military and defense, and other applications as an alternative to more expensive lithium-ion batteries. LiX technology allows the battery to charge 100% in 15 minutes. 

The company plans to use the 2022 funding to continue working toward its goal of commercializing its technology and implementing it across several industries.

## Funding rounds

- Series A, Feb 3, 2022, $11M — General Motors Ventures, WOORI Venture Partners, Lotte Ventures

## Investors

- General Motors Ventures (https://capitalatlas.ai/funds/general-motors-ventures) — Series A
- WOORI Venture Partners (https://capitalatlas.ai/funds/woori-venture-partners) — Series A
- Lotte Ventures (https://capitalatlas.ai/funds/lotte-ventures) — Series A