The Funded: Enovix raised new $150M in new funds, in part from John Doerr and TJ Rodgers
The Fremont-based battery maker raised funds to build out its new high-volume manufacturing plant in Malaysia to increase production.
Enovix Corp., a manufacturer of advanced batteries, refilled their coffers this week with some help from John Doerr & T.J. Rodgers.
Fremont (Nasdaq ENVX), a company based in California, raised $150 million through the sale five-year convertible notes with a 3% interest rate. Doerr and Rodgers each invested $10m as part of this deal. Rodgers is the founder of Cypress Semiconductor, which is now the chairman of the battery manufacturer.