13 May Report says Venture Investors commits $500K to battery tech firm
Madison, Wis. – Venture Investors, making the first commitment from its new $117 million fund, has invested $500,000 in a Madison start-up business that will manufacture new battery technology, according to a report in the Milwaukee Journal Sentinel.
The report said Silatronix, LLC, raised the money in March and stands to receive another $500,000 if it meets certain business milestones.
Silatronix, led by a group of scientists, is developing electrolyte technology to help battery manufacturers make batteries safer and more efficient.
Venture Investors, a Madison venture capital firm, plans to invest five percent of its capital in a Venture Igniter fund that will target untapped university technologies, the report said.
Silatronix, which was created under the fund, is based on technology developed at the University of Wisconsin-Madison and other institutions.
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