Energy startup Inmatech closed on a $1.5 million seed round this fall, capital the company plans to spend on further developing its battery technology. Atlanta-based SMS Investments XII led the round.
The 4-year-old University of Michigan spin out is developing advanced technology that greatly improves the performance of supercapacitors in batteries for electronics. The supercapacitors enable the batteries to improve the delivery of energy and increase energy density.
"It will be a power-storage device that will help batteries in range, run time and cycle life," says Saemin Choi, CTO of
Inmatech. "It will also give low-temperature performance."
Inmatech is in the process of making alpha-versions of its technology for international evaluation. Choi expects his startup to begin work on the beta-version midway through 2015.
The Ann Arbor-based startup is expanding its team to further the development of its technology. The company currently employs five people after hiring a COO and materials scientist over the last year.
"We have two new hires coming in on Jan. 1st," Choi says. He adds the company expects to hire two more engineers and two more technicians over the next six months.
Source: Saemin Choi, CTO of Inmatech
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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