About Hibar Systems
Hibar Systems is a Transportation, Automotive & Logistics company based in Richmond Hill (Canada) founded in 1974, and was acquired by Tesla in October 2019. Lithium-ion battery solutions for electric vehicles are developed. It operates in the Transportation, Automotive & Logistics and Energy & Utilities sectors. The company was acqui-hired. Its focus areas include Energy Tech, Energy Storage Tech, Battery and Secondary Battery.
Company details
Hibar Systems was founded in 1974 in Richmond Hill, Canada. Lithium-ion battery solutions for electric vehicles are developed by the company, with a focus on the automotive sector. An automated vacuum filling system is provided for lithium-ion battery applications, particularly in hybrid electric vehicles. Operations center on engineering and manufacturing processes to support battery production needs in North America.
Funding Insights of Hibar Systems
- Total Rounds 1
- Last Round Grant — $1.5M
- First Round $1.5M
(Apr 2019)
- Investors Count 1
All 1 funding rounds of Hibar Systems 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 |
|---|---|---|---|---|---|
| Apr 2019 | $1.5M | Grant | – | – |
2 investors in total: 2 institutional.
Investors in Hibar Systems
Hibar Systems has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Tesla and National Research Council Canada.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Scientific and technological research is conducted for Canada's benefit. | 1916 | nrc.canada.ca | Ottawa, Canada | |
Electric vehicles and solar energy products are manufactured. | 2003 | tesla.com | Austin, United States |
Investor details for Hibar Systems
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Timeline of Hibar Systems
3 dated milestones of Hibar Systems across 45 years, from founding to its latest funding, stage changes and deals.
- Founded Hibar Systems is founded.
- Funding First funding round of $1.5M.
- Exit Acquired by Tesla.
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Frequently Asked Questions about Hibar Systems
Hibar Systems was founded in 1974 and raised its 1st funding round 45 years after it was founded.
Hibar Systems is headquartered in Richmond Hill, Canada. It is registered at Richmond Hill, Ontario, Canada.
Hibar Systems was founded in 1974 in Richmond Hill, Canada. Lithium-ion battery solutions for electric vehicles are developed by the company, with a focus on the automotive sector. An automated vacuum filling system is provided for lithium-ion battery applications, particularly in hybrid electric vehicles. Operations center on engineering and manufacturing processes to support battery production needs in North America.
Hibar Systems has 2 investors. Key investors include Tesla, and National Research Council Canada.
Yes. Hibar Systems was acquired by Tesla in October 2019.