Cadenza Innovation, an Oxford, CT-based provider of energy storage solutions based on architectures for lithium-ion battery packs, raised more than $5m in Series A funding.
The round was led by Golden Seeds, with participation from Connecticut Innovations, Scale Investors, Summit Power Group Co-chairman Eric Redman and entrepreneur, philanthropist and investor Mark Torrance, along with angel investors from Asia, Europe and North America. In conjunction with the funding, Doug Bateson’s Golden Seeds joined Cadenza Innovation’s board of directors.
The company will use the new funds to expand product development, secure additional certifications, extend initial deployments, make key new hires and accelerate revenue growth.
Founded in 2012 by Dr. Christina Lampe-Onnerud, Cadenza Innovation aims to bring to market a low cost and high-performance technology platform for licensing to lithium-ion battery manufacturers worldwide.