Alsym Energy, a developer of next-generation non-flammable rechargeable batteries for stationary storage, marine and mobility applications, announced a $78 million funding round jointly led by Tata Limited (a wholly-owned subsidiary of Tata Sons) and General Catalyst, a global venture capital firm. New York-based Thrive Capital and Toronto-based Thomvest also joined in the round, as well as existing investor Drads Capital.

Alsym will use the funds to grow its Boston-area team and expand its prototyping and pilot lines to address increasing demand for customer samples. This commitment from leading strategic investors and venture capital firms highlights the growing interest in high-performance, inexpensive non-flammable battery technologies.