Battery startup Soelect raises $1M in equity from nine investors

Soelect Inc., a North Carolina, Greensboro-based startup that is working on commercially viable, low-cost solution for solid-state battery, has raised roughly $1 million in equity, according to a recent securities filing. Nine investors contributed to the round. Some of the proceeds may be used to pay the salary of the officers, the filing noted.

Sung-Jin Cho is among those listed on the filing. According to his LinkedIn account, he is currently working as an assistant professor at North Carolina A&T State University. His focus is on hybrid solid state electrolyte membrane and all-solid-state battery and solid-state battery cell design and operation at low temperature.

Matthew Bailey is another person related to the company, according to the filing. He is based in Greensboro and is director of VentureSouth, an early-stage venture firm that is based in South Carolina.

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