Cyclotron Road fellow Richard Wang, whose startup Cuberg enables safe, high-performance batteries for critical applications, has closed a second round of seed funding, led by Boeing HorizonX Ventures.
This second round brings Cuberg’s total funding to $3.3 million in grant funding and investment to date.
Cuberg closed its first seed round in late 2016 with a $900,000 joint venture development partner.
Announcing the news, Boeing HorizonX vice president Steve Nordlund praised Cuberg’s battery technology for its twin attributes: high energy density with a safe, stable chemistry.
Boeing established the HorizonX Ventures fund last spring and Cuberg is the first energy storage company in the investment fund portfolio.
Cuberg plans to use its funding from Boeing to expand research and development efforts and hire several more engineers.
Wang, who was named to the 2017 Forbes “30 Under 30” list is excited about this Boeing partnership because it opens Cuberg to the many different technical requirements and systems within a world-class aerospace organization.