Chemix, Inc.

Company Overview

Chemix, Inc. is a Sunnyvale, California-based startup that is using artificial intelligence (AI) to develop breakthrough electric vehicle (EV) battery technologies. Founded with the mission to accelerate the development of sustainable battery chemistry, Chemix aims to eliminate the use of cobalt and ultimately reduce reliance on nickel and lithium in batteries without compromising vehicle performance.

The company’s innovative approach leverages AI and machine learning to dramatically speed up the battery development process. Chemix claims their AI-powered methods can reduce battery development time by 10x compared to traditional approaches. Their battery designs are compatible with existing lithium-ion battery manufacturing capacity, enabling a seamless transition from R&D to volume production for their customers.

Products Overview

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

1. SAPPHIRE by MIX™: Premium performance batteries with 285-330+ Wh/kg energy density, targeted at high-end applications like sports cars and premium SUVs.

2. JADE by MIX™: Balanced performance batteries with 200-250+ Wh/kg energy density, suitable for a wide range of EV applications.

3. OPAL by MIX™: Focused on ultimate sustainability, these batteries offer 180-200 Wh/kg energy density while minimizing environmental impact.

All three product lines are described as having prototypes ready for shipment.

The core of Chemix’s technology is their MIX™ Platform, an AI-powered system for battery development that includes: - A large dataset of experimental data from thousands of commercial-format prototype cells - Deep learning models for materials performance prediction - Automated experiment design processes - AI models for battery lifetime forecasting - In-house performance testing capabilities

Founding Team

The co-founders of Chemix are:

1. Kaixiang Lin, Ph.D. - Co-founder & CEO
   • Over 10 years of experience in next-gen battery design (Li-metal, Li-sulfur, etc.)
   • Education: Harvard University and Stanford University
2. Jason Koeller, Ph.D. - Co-founder & CTO
   • Over 8 years of AI/ML and battery industry experience
   • Education: University of California, Berkeley

Other key leadership includes:

1. Praveen Sharma - Chief Operating Officer
   • Over 20 years of automotive experience, including 8+ years at Tesla where he launched 4680 battery production
2. Srinivas Nimmagadda - Chief Commercial Officer
   • Over 20 years of startup experience, having closed over $200M in revenue

Problem and Market Fit

Chemix is addressing several key challenges in the EV battery industry:

1. The infinite design space of battery materials, which makes it difficult to prioritize combinations for testing.
2. The long testing times required for traditional battery development, which can take months or years.
3. The complexity of battery behavior, which makes it difficult to predict performance changes from design alterations.

By using AI to accelerate the design and testing process, Chemix aims to overcome these challenges and speed up the development of more sustainable and higher-performing EV batteries. This approach is particularly relevant as the automotive industry shifts towards electrification and seeks to improve battery technology to extend range, reduce costs, and minimize environmental impact.

Business Model

While not explicitly stated, Chemix’s business model appears to involve:

1. Developing and selling advanced EV battery designs to automotive manufacturers and other customers in the EV supply chain.
2. Potentially licensing their MIX™ AI platform or offering it as a service to battery manufacturers and researchers.
3. Partnering with strategic investors in the automotive and technology sectors to accelerate adoption of their technology.

Funding and Runway

Chemix has recently closed its Series A funding round, though the exact amount raised is not specified in the provided information. The round was led by Ibex Investors and included strategic investments from:

• BNP Paribas SIVF
• KDDI CVC
• Porsche Ventures

Previous investors mentioned include: - Mayfield - Radical Ventures

The company’s current runway is not disclosed in the provided information.

Competitive Landscape

While specific competitors are not mentioned, Chemix is operating in the highly competitive EV battery technology space. Their differentiation appears to be the use of advanced AI techniques to accelerate battery development and optimize performance. The company’s focus on reducing or eliminating cobalt use, while maintaining or improving performance, also positions them well in the trend towards more sustainable battery chemistries.

Customers

Specific customers are not mentioned in the provided information. However, given the nature of their products, potential customers would likely include:

• Electric vehicle manufacturers
• Electric motorcycle producers
• Battery manufacturers
• Other companies in the EV supply chain

Relevant News

• April 2024: Chemix closed its Series A funding round led by Ibex Investors, with strategic investments from BNP Paribas SIVF, KDDI CVC, and Porsche Ventures.
• April 2024: Featured in a Bloomberg article about AI’s potential to improve EV batteries.
• December 2023: Jason Koeller (Co-founder & CTO) was named one of the top 5 people in artificial-intelligence sustainability by Business Insider.
• October 2023: Both co-founders were included in Business Insider’s “AI 100 2023” list of top people in artificial intelligence.
• May 2023: Featured in Forbes for their AI-based EV battery development that reduces or eliminates cobalt use.
• May 2023: TechCrunch article highlighting Chemix as part of the “era of software-defined battery startups.”

These news items indicate growing recognition of Chemix’s innovative approach and potential impact on the EV battery industry.