Sila Nano pioneered novel manufacturing methods to create a silicon-based anode to replace graphite in a lithium-ion battery. They manufacture materials that are important to the innovation of electric vehicles, consumer electronics, electric power grids, and electrified flight. In order to mass market electric vehicles, the cost of the battery pack needs to be lowered on a dollars per kilowatt-hour basis. Sila Nano materials enable higher volumetric energy density, which means more energy in each cell, and fewer cells in battery packs. Lighter battery materials enable all sorts of new consumer electronics, like full-featured wireless earbuds, music streaming smartwatches, better camera phones, and more. Sila develops high energy density cells which serve as the building blocks for renewable power grids. Sila also manufactures technology for electrified flight, from drones to electric passenger aircraft.
Sila Nano manufactures tech that drops into existing commercial manufacturing process, meaning that Sila Nano products can be seamlessly incorporated into new products.
Sila Nano has raised a total of $295 million from dozens of investors. On April 16, 2019 they received $170 million in Series E funding led by Daimler AG. Jeffrey R. Immelt, the former CEO of General Electric, joined the Board as an independent director alongside Alex Nediger, Daimler's Director of Cooperation and Innovation Management. Other investors include 8VC, Amperex Technology Limited, Bessemer Venture Partners, Chengwei Capital, In-Q-Tel, Matrix Partners, Samsung, and Sutter Hill Ventures. They are valuated at over $1 billion dollars. 
CEO Gene Berdichevsky is extremely confident in their new technology, he said in a blog post: 
We’ve cracked the code on silicon thanks to eight years and 35,000 iterations developing our materials to improve battery storage capacity. Now we’re ready to bring this to market, and partners like Daimler and Jeff Immelt bring critical expertise and support as we enter this next phase and begin putting Sila inside the vehicles and devices people use every day.