Battery maker AESC recently closed a $1 billion funding round and is seeking to raise more money for growth from investors, a stepping stone to going public in the US, according to people familiar with the matter.
The Japan-based company is working with advisers on a Series C round valuing it at billions of dollars, the people said. AESC is talking with anchor investors including global automakers with the aim of eventually going public on a US exchange, they said, asking to not be identified discussing private information.
The funding would follow a recently closed Series B round led by GIC Pte, the Singapore sovereign wealth fund, according to the people. No final decision has been made and AESC’s funding plans could change.
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