Chemix

Company Overview

Chemix is a cutting-edge startup in the renewable energy and semiconductor manufacturing industry, focusing on developing breakthrough EV battery technologies using artificial intelligence. Founded in Sunnyvale, California, Chemix aims to revolutionize battery development by making it faster, more efficient, and more sustainable.

The company’s mission is to accelerate the development of sustainable battery chemistry, with the goal of eliminating the use of cobalt and ultimately reducing reliance on nickel and lithium, all while maintaining or improving vehicle performance. Chemix’s innovative approach utilizes AI to dramatically reduce battery development time, potentially cutting it by a factor of 10 compared to traditional methods.

Products Overview

Chemix offers three main battery product lines, all developed using their proprietary MIX™ AI platform:

1. SAPPHIRE by MIX™: A premium performance battery with an energy density of 285-330+ Wh/kg, designed for high-end applications like sports cars and premium SUVs.

2. JADE by MIX™: A balanced performance battery offering 200-250+ Wh/kg, suitable for a wide range of electric vehicles.

3. OPAL by MIX™: Focused on ultimate sustainability, this battery provides 180-200 Wh/kg and is designed to minimize environmental impact.

All of these battery designs are compatible with existing Li-ion battery manufacturing capacity, allowing for seamless transition from R&D to volume production.

The company’s core technology is the MIX™ Platform, an AI-driven battery development system that integrates data collection, discovery and design AI models, experiment design processes, lifetime forecasting AI models, and in-house performance testing.

Founding Team

The founding team of Chemix comprises researchers and business leaders from prestigious institutions and industry-leading companies:

1. Kaixiang Lin, PhD - Co-founder & CEO: With over 10 years of experience in next-gen battery design, Dr. Lin has a background from Harvard University and Stanford University.

2. Jason Koeller, PhD - Co-founder & CTO: Dr. Koeller brings 8+ years of AI/ML and battery industry experience, with a background from the University of California, Berkeley.

Problem and Market Fit

The electric vehicle (EV) market is rapidly growing, but current battery development processes are slow, labor-intensive, and expensive. This creates a bottleneck in the advancement of EV technology and the transition to sustainable transportation. Chemix addresses this problem by using AI to dramatically speed up the battery development process, potentially reducing development time by a factor of 10.

Additionally, the reliance on materials like cobalt in current battery technologies presents environmental and ethical concerns. Chemix’s focus on developing cobalt-free batteries and reducing dependence on nickel and lithium aligns with the growing demand for more sustainable and ethically sourced energy storage solutions.

Business Model

While not explicitly stated, Chemix’s business model likely involves:

1. Selling or licensing their battery technologies to EV manufacturers and other industries requiring high-performance energy storage solutions.
2. Potentially offering their MIX™ AI platform as a service to other companies in the battery development space.
3. Partnering with existing battery manufacturers to integrate their designs into current production lines.

Funding and Runway

Chemix has recently closed its Series A funding round, led by Ibex Investors. The round also welcomed strategic investors including BNP Paribas SIVF, KDDI CVC, and Porsche Ventures. While the exact amount raised is not specified, the involvement of these major investors suggests a significant funding boost for the company.

Previous investors include Mayfield and Radical Ventures, indicating that the company has gone through at least one prior funding round before this Series A.

Competitive Landscape

The EV battery market is highly competitive, with established players like Panasonic, LG Chem, and CATL dominating the space. However, Chemix differentiates itself through its AI-driven approach to battery development, which potentially offers significant advantages in terms of development speed and cost efficiency.

Other startups are also entering this space with novel approaches to battery technology, but Chemix’s focus on AI-driven design and sustainability appears to be a unique selling point.

Customers

While specific customers are not mentioned, Chemix’s products are designed for various segments of the EV market, including:

• Sports car manufacturers
• Premium SUV makers
• General EV manufacturers
• Potentially, other industries requiring high-performance energy storage solutions

The involvement of Porsche Ventures as a strategic investor suggests potential interest from high-end automotive manufacturers.

Relevant News

• April 2024: Chemix closed its Series A funding round, led by Ibex Investors and including strategic investors BNP Paribas SIVF, KDDI CVC, and Porsche Ventures.
• April 2024: Bloomberg featured Chemix in an article about AI improving EV batteries.
• December 2023: Jason Koeller, Chemix’s CTO, was named one of the top 5 people in artificial-intelligence sustainability by Business Insider.
• July 2023: The Wall Street Journal featured Chemix in an article about AI’s potential impact on energy supply and consumption.
• May 2023: Forbes reported on Chemix’s AI-based EV battery development that reduces or eliminates cobalt use.
• May 2023: TechCrunch featured Chemix in an article about the rise of software-defined battery startups.

These news items indicate growing recognition of Chemix’s innovative approach in the battery technology sector and suggest increasing interest from both the media and potential investors/partners.