Updated: Nov 3, 2021
September 3, 2021
FREMONT – Automat Solutions, Inc., a platform company focused on accelerating material innovation with a Materials AI-Robotics System (MARS), has announced the closing of $1.6 million in their seed round of funding.
The company has a transformative approach to simplify advanced material Research and Development (R&D) and to accelerate Time to Market (TTM), with a current focus on lithium battery material development. Its plan is to manufacture and sell high-performance battery electrolytes in the US and globally in 2022. We were awarded competitive grants from the National Science Foundation and the Department of Energy. Moreover, we are partnering with industrial leaders.
This seed round of funding was led by HighChem America, Inc (www.highchem.us), a comprehensive chemical material and products supplier, and co-led by TSVC (www.tsvccap.com), a leading early-stage venture capital fund based in Silicon Valley.
Zhenyu Li, the CEO of HighChem America, Inc, said: “Lithium-ion battery represents a critical part of energy storage solution in powering the future. We believe in Automat’s growth potential as a cutting-edge technology provider in this sector. With HighChem’s firm footprint established in supply chain, both parties can take advantage of substantial synergies created through the partnership to strengthen existing business presence and to expand our competencies in delivering key material solutions to customers. We look forward to working with the excellent team from Automat and supporting their efforts to make transition into their next phase of growth.”
Chun Xia, the Founding Partner at TSVC, said: “Applying the combined technology of AI and high throughput screening to new material discovery is very innovative. Similar approach has been tested in other fields and has proven some big potential. TSVC’s unicorn portfolio Gingko Bioworks is a good example. We hope Automat can repeat such success pattern and we will help Automat to grow with our extensive resource networks.”
“Automat is thrilled to have this selected group of investors on board”, said Automat’s CEO Leon Wang, “The new fund completes the puzzle for us to execute the plan on manufacturing the electrolytes and upgrading the platform.”
Automat Solutions will further advance its role in the battery area by accelerating battery material development with its integrated AI-Robotics technology, and constantly brings innovative, market-need battery materials.
About HighChem Group and HighChem America, Inc.
HighChem America, Inc., founded in 2013, is a wholly owned subsidiary of HighChem Company Limited. HighChem is a primary supplier of functional materials and fine chemicals in a wide array of industry sectors. HighChem currently serves approximately 9,500 producers and end users, with over 3,000 products in active supply to customers in over 15 countries. Our dedicated team in U.S. play a key role in delivering HighChem product and technologies to customers across global chemical market.
Founded in 2010, TSVC (formerly TEEC Angel Fund) is proud to be a leading early-stage venture capital fund in Silicon Valley. By investing in forward-thinking ideas and cutting-edge deep technologies as well as partnering with exceptional founders in the extraordinary entrepreneurial community, TSVC has been ranked in the top decile of early-stage VC funds in Silicon Valley. Over the past 11 years, TSVC has delivered outstanding returns to our investors by funding over 180 startups in deep tech-focused areas such as SaaS, AI, Fintech, Biotech, Semiconductor, and Blockchain. With 6 unicorns (Zoom, Ginkgo Bio, Carta, Quanergy, Plus, and Iterable) in our portfolio, TSVC has achieved highest unicorn hit rate at seed-stage investment according to PitchBook.
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