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CODA Raises $25 Million in Series C Funding
In brief: CODA Automotive raised $25 million in Series C funding, closing January 6th, marking $74 million to-date in A-C funding for the startup automaker.
CODA Automotive, based in California, has raised $25 million in series C funding, totaling $74 million in fundraising to-date. This funding is specifically to be allocated towards safety certification and testing for the purpose-built battery systems CODA is building in a joint venture facility with Yardney in Connecticut.
The venture, called Coda Battery Systems, will design and manufacture automotive-grade li-ion battery systems in the U.S. for vehicle such as the Coda Sedan.
And so ...
The Coda Sedan will likely use batteries sourced from this venture in future models, the current model using batteries sourced from China.
Photo credits: CODA Automotive
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