Next-gen battery startup Sila raises $300M to expand manufacturing plant in Washington state

Sila, a startup producing next-generation battery materials, on Tuesday announced $300 million in new funding.

The company previously raised $1.3 billion and was valued at close to $2 billion two years ago, according to PitchBook. It has 400 employees.

The California-based startup has developed a silicon-carbon material that replaces graphite traditionally used in the anodes of lithium-ion batteries, delivering better performance and significantly higher energy capacity.