About 24m Technologies
24m Technologies is an Energy & Utilities company based in Cambridge (United States) founded in 2010 by Yet Ming Chiang. Semi-solid lithium-ion batteries are developed to address manufacturing issues. 24m Technologies has raised $500 million across 11 funding rounds from investors including Fujifilm, PTT Public Company Limited and Volkswagen Group. The company has 82 employees. 24m Technologies was last valued at $1.3 billion in September 2025. Its chief executive, as recorded, is Naoki Ota. 24m Technologies offers products and services including Impervio Separator, 24M ETOP Pack Design, Eternalyte Electrolyte, LiForever Electrode, and 24M Equipment. Its focus areas include Energy Tech, Energy Storage Tech, Battery and Secondary Battery. Its legal entity is 24M TECHNOLOGIES INC. Its competitors include Sion Power and AM Batteries; 2 of its 2 listed competitors have raised funding.
Company details
24m Technologies was founded in 2010 and is based in Cambridge, United States. Semi-solid lithium-ion battery technologies are provided within the energy storage sector. Common challenges in battery manufacturing and performance are targeted through specialized design and materials. Operations emphasize scalable solutions for lithium-ion systems, with leadership including co-founder Yet-Ming Chiang as chief scientist and Naoki Ota as CEO.
- Total Equity Funding$500M (USD)
in 11 rounds
- Latest Funding Round$87M (USD), Series H
Sep 2024
- InvestorsFujifilm
& 19 more
- Employee Count82
Products & Services of 24m Technologies
24m Technologies offers a comprehensive portfolio of products and services, including Impervio Separator, 24M ETOP Pack Design, Eternalyte Electrolyte, LiForever Electrode, and 24M Equipment.
Component that enhances battery safety by preventing fires.
Design for efficient energy storage and packaging.
Electrolyte improving charge rates and cold performance.
Electrode extending battery cycle life effectively.
Equipment for producing advanced battery systems.
Funding Insights of 24m Technologies
24m Technologies has successfully raised a total of $500M across 11 strategic funding rounds. The most recent funding activity was a Series H round of $87 million completed in September 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $500M
- Total Rounds 11
- Last Round Series H — $87M
- First Round $5.1M
(Aug 2010)
- Investors Count 20
Latest 10 of 11 funding rounds of 24m Technologies with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2024 | $87M | Series H | – | Asahi Kasei, DNP Group | |
| Jan 2022 | $9M | Grant | – | – | |
| Jan 2022 | Series F | – | – | ||
| May 2021 | $56.8M | Series E | – | ITOCHU | |
| Nov 2018 | $21.83M | Series D | – | Kyocera, ITOCHU | |
| May 2016 | $6.67M | Series C | – | GPSC, Shumway Capital | – |
| Jun 2014 | $15M | Series B | – | PTT | – |
| Jun 2013 | $25M | Series B | – | – | – |
| Aug 2010 | $6M | Grant | – | – | |
| Aug 2010 | $10M | Series A | – | CRV, North Bridge Venture Partners | – |
| Date | Valuation | Stage |
|---|
Full valuation and stage history of 24m Technologies
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $1.3B (Sep 2025). 20 investors in total: 20 institutional.
Investors in 24m Technologies
24m Technologies has secured backing from 20 investors, including institutional and venture fund investors. Prominent investors backing the company include Fujifilm, PTT Public Company Limited and Volkswagen Group.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
US focused seed to growth stage VC firm | northbridge.com | Needham, United States | ||
PE firm focused on investing in tech companies operating across Japan | mirai.sparx.co.jp | Minato City, Japan | ||
Provider of a PE and VC investing firm | shumwaycapital.com | Greenwich, United States | ||
CRV is recognized as a venture capital firm investing in technology startups. | crv.com | Palo Alto, United States | ||
Startups are accelerated and connected via MIT-backed initiatives. | startupexchange.mit.edu | Cambridge, United States | ||
A corporate venture capital firm focused on decarbonization technologies. | molswitch.earth | Palo Alto, USA | ||
Kyocera is engaged in providing technology solutions globally. | 1959 | global.kyocera.com | Horse Shoe, United States | |
CDMO focused on manufacturing of liquid, solid & injectable drug formulations | 1931 | asahi-kasei.com | Tokyo, Japan | |
DNP Group is engaged in printing and technology solutions. | 1876 | global.dnp | Japan | |
Infrastructure investments are directed across transportation and logistics sectors. | 1999 | mol.co.jp | Tokyo, Japan |
Investor details for 24m Technologies
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of 24m Technologies
38 people are tracked at 24m Technologies (17 in leadership, 5 in board & advisors, 16 in team); the tracked headcount is 82.
| Name | Role | Group |
|---|---|---|
Yet Ming Chiang | Co-Founder & Chief Scientist | Leadership |
Naoki Ota | CEO & President | Leadership |
Panghoo Tan | VP, Business Development | Leadership |
Ben Sloan | Director, Impervio Program Management | Leadership |
Junzheng Chen | Director, Advanced R&D | Leadership |
Panuporn Udompansa | Director Of Products | Leadership |
Richard Chleboski | Chief Financial Officer And Chief Operating Officer | Leadership |
Tim Rineck | VP, Global Operations | Leadership |
Ariel S. | Director, IS & Data | Leadership |
Ulrik Grape | President 24m European Operations | Leadership |
Tyler Eusden | Director Of Engineering Operations | Leadership |
Christopher T. | Director Operations (norway) | Leadership |
Ethan Meredith | Director Of Compliance & Corporate Counsel | Leadership |
Robert Sanchez | Chief Legal Officer | Leadership |
Austin Watroba | Vice President Finance | Leadership |
Marc Tappa | Vp, Global IT | Leadership |
Chad Hartzog | Director, Pack Development | Leadership |
Throop Wilder | Executive Chairman & Co-Founder | Board & advisors |
Jeffrey McCarthy | Director | Board & advisors |
Steffen Blase | Director | Board & advisors |
18 more people are available in the full profile.
Complete people profiles for 24m Technologies
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of 24m Technologies
4 dated milestones of 24m Technologies across 14 years, from founding to its latest funding, stage changes and deals.
- Founded 24m Technologies is founded.
- Funding First funding round of $5.1M.
- Funding Latest funding round, Series H, of $87.0M.
- Milestone Reaches Unicorn status.
Competitors of 24m Technologies
24m Technologies has 2 listed competitors in our database, 2 of them funded. They include Sion Power and AM Batteries.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| sionpower.com | 1995 | Tucson, United States | $385.35M | 113 | High-energy lithium-sulfur batteries are developed for portable and vehicle applications. | |
| am-batteries.com | 2016 | United States | $74.01M | 47 | Manufacturer of batteries |
Detailed competitors of 24m Technologies
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of 24m Technologies
The website of 24m Technologies (24-m.com) receives about 4.5K visits a month.
- Monthly visits4.5K
▼ 26.1% vs previous month
Websites whose visitors overlap most with 24m Technologies. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
der.lbl.gov | der.lbl.gov | 100% | – | ||
| nrel.gov | 99% | 720.3K | #68,536 | View details | |
| northeastern.edu | 60% | 5M | #13,332 | View details |
Top companies in Energy Storage Systems
3 companies that operate in the same segment as 24m Technologies (Energy Storage Systems) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Electric buses and charging systems are manufactured for fleets. | 2004 | Burlingame, California, United States | USD 857.79 M | USD 309.36 M | 418 | |
Silicon-based solar PV modules are manufactured for diverse applications. | 1985 | San Jose, California, United States | USD 171.73 M | USD 300 M | 600 | |
Iron-air energy storage systems are developed for renewable energy projects. | 2009 | Somerville, Massachusetts, United States | USD 2 B | 902 |
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Frequently Asked Questions about 24m Technologies
24m Technologies was founded in 2010.
24m Technologies is headquartered in Cambridge, United States. It is registered at Cambridge, Massachusetts, United States.
Naoki Ota is the CEO of 24m Technologies, as recorded in our data.
24m Technologies is a funded company, having raised a total of $500M across 11 funding rounds to date. The company's 1st funding round was a Grant of $6M, raised on Aug 2010.
24m Technologies has 82 employees.
24m Technologies was founded in 2010 and is based in Cambridge, United States. Semi-solid lithium-ion battery technologies are provided within the energy storage sector. Common challenges in battery manufacturing and performance are targeted through specialized design and materials. Operations emphasize scalable solutions for lithium-ion systems, with leadership including co-founder Yet-Ming Chiang as chief scientist and Naoki Ota as CEO.
24m Technologies's top competitors include Sion Power and AM Batteries.
24m Technologies offers Impervio Separator, 24M ETOP Pack Design, Eternalyte Electrolyte, LiForever Electrode, and 24M Equipment.
24m Technologies has 20 investors. Key investors include Fujifilm, PTT Public Company Limited, Volkswagen Group, A123 Systems, and Kyocera.
The valuation of 24m Technologies is $1.3B as of Sep 2025.
24m Technologies operates through 24M Technologies Inc.