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Ultracap company Ioxus closes $21M Series C round; IFC leads; focus on China

Ioxus, a manufacturer of premium performance ultracapacitor technology for use in transportation, industrial and energy applications, completed its series C funding with receipt of $21 million from investors. IFC, a member of the World Bank Group, and the largest global development institution focused exclusively on the private sector, together with the Westly Group, a venture capital firm based in Menlo Park, California, led the financing.

The company plans to use the funds to expand its customer service, sales and manufacturing in Asia, with a focus on China.

China is the leading global market for new energy buses, passenger rail, automobile sales and renewable wind power generation; Ioxus products directly benefit those applications. With the assistance of IFC, Ioxus will significantly expand its sales, customer service and manufacturing presence in China.



Ioxus picked the right market to develop, mass produce and sell its improved ultracaps.

Actual, near, mid and long terms; Wind energy and electrified vehicles will probably use more and more high performance long lasting ultracaps.

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