Sila Nanotechnologies Gets $1 Billion Valuation Cut with Latest Round

Battery tech company Sila Nanotechnologies Inc. recently raised a sizable amount of money from investors — the only catch was that its valuation dropped by about $1 billion in the funding round, indicating that the environment for startups remains tough.

In late June, Sila raised $375 million at a valuation of just under $2 billion, according to a person familiar with the matter who asked not to be identified discussing private information — a one-third discount from its last funding round in 2021, when it raised $590 million at a valuation of $3.3 billion.