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VC backers return for Leyden Energy’s $10m VC round

24 Jan 2013

US power storage company Leyden Energy has completed its Series C round with existing backers New Enterprise Associates and Lightspeed Ventures reinvesting.

Leyden Energy has secured $10m, according to a report in finsmes.com, with Sigma Partners and Walden International also taking part in the found.

Based in Fremont, California the company has developed batteries that it claims have a longer calendar life and a cycle life yielding up to three times the charge of conventional lithium ion batteries.

The company is led by CEO and president Rick Wilmer, who was previously CEO of Pliant Technology where he successfully led its acquisition by SanDisk.

He joined the business in May 2012 with previous CEO Aakar Patel assuming the role of chief strategy officer.

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