South 8 Technologies Announces Financing from Porsche Ventures

Gunderson Dettmer represented client South 8 Technologies, a Lithium battery developer, in its financing from Porsche Ventures. South 8 Technology has developed a liquefied gas (LiGas) electrolyte solution that will be an alternative to the liquid-based electrolyte used in standard lithium-ion cells today. The new capital will be used to aid in developing more ways to make lithium-ion batteries safer and more efficient.

In the announcement of the transaction, South 8 Chief Science Officer Cyrus Rustomji said, “The validation from a top-tier OEM (original equipment manufacturer) like Porsche is really exciting. The fact is, we’re a startup and we need to move fast, and we like to have partners that move fast and drive fast, too. So it’s really exciting to possibly integrate into a high-end vehicle that is looking to improve performance over the state of the art today.”

The Gunderson Dettmer deal team was led by John Tolpa.