Sakti3 is developing batteries for automotive use. Its CEO and founder is University of Michigan Materials Science and Engineering Professor Ann Marie Sastry.

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A real estate firm in negotiations with Sakti3 has requested that City Council establish an industrial development district at 1490 Eisenhower Place. That's a required legal precursor to an official tax abatement request, which generally accompanies an expansion or business investment.

ANN ARBOR, Mich.--(BUSINESS WIRE)--Sakti3, Inc., an Ann Arbor-based developer of next-generation lithium-ion batteries, announces the completion of its $7 million Series B round of financing. The capital, from new investor Beringea and previous investor Khosla Ventures, will fund the company’s expansion of its Michigan-based research, development and manufacturing capabilities.

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