CelLink Closes $22.5 Million Series B Funding for Low-Cost Flexible Power CircuitsNovember 04, 2019 by Paul Shepard
Robert Bosch Venture Capital GmbH (RBVC) has completed a series B follow-on investment in CelLink Corporation. The start-up is based in San Carlos, California and develops and produces lightweight and low-cost flexible electric circuit technology for power electronics using a proprietary combination of manufacturing processes, designs, and materials.
“We are excited about CelLink’s progress with its product portfolio since our initial seed investment,” said RBVC Managing Director Dr. Ingo Ramesohl. “The team has developed battery pack applications for electric vehicles and eBikes which are of high relevance for Bosch as the company aims to lead the mass market for electromobility”.
The new funding is aimed at ramping up CelLink’s production to meet significant customer demand across the company’s three primary markets of vehicle wiring, battery pack interconnects, and LED lighting.
Flexible Electric Circuit Technology
CelLink’s circuits use innovative combinations of manufacturing techniques and materials, resulting in simplified wiring designs with optimal electrical and thermal performance. This advancement in flexible circuit technology enables significant reductions in volume and weight over existing wiring technologies. For vehicle wiring, CelLink’s technology can provide up to 70 percent weight reduction and up to 90 percent volume reduction by replacing round wire bundles with flat flexible circuits. These savings have the potential to power widespread adoption across next-generation electrical systems.
Addressing New Markets
Printed and flexible electric circuits make up a 60 billion dollar market segment of the consumer electronics industry. However, manufacturers have not been able to address the power electronics market because the fabrication process cannot be scaled to produce large area or highly conductive circuits.
CelLink’s ability to manufacture larger and more conductive circuits allows the company to target this rapidly growing market, which includes wiring for vehicles, LED lighting, battery packs, and solar cells.
The new round of funding will be used to scale up existing mass production contracts in these primary markets and transition several projects from product development to full-scale production. In the long-term, CelLink believes its technology can scale well beyond the company’s initial markets as its flexible circuits offer an attractive value proposition for several further applications in mobility and beyond.
The company has already received strong interest in adapting its technology for use in aerospace and commercial vehicles.
A strong team and investor base
The latest round of funding will enable CelLink to expand its experienced management team led by serial entrepreneur, CEO Kevin Coakley who previously founded ThinSilicon, which was acquired by China Solar Power. This funding round has also grown CelLink’s base of investors as well as strengthened connections with previous investors like RBVC.
“As one of CelLink’s earliest investors, RBVC has been a tremendous resource for our company in critical technical areas such as high-volume manufacturing and high-speed data transmission,” said CelLink CEO Kevin Coakley. “In addition, RBVC has provided valuable introductions to many of our key automotive customers and partners in Europe,” Coakley added.