DeltaX raises $23M Series B to build US energy storage base in Georgia
What's the deal? DeltaX, a South Korean AI and energy solutions company, has raised 32 billion KRW (about $23 million) in a Series B round. Roughly 10 venture capital firms and investors took part, with existing backer Quantum Ventures KoreaDealroom has a profile for this one. Try Dealroom → contributing 14 billion KRW. The company will spend the money on building battery energy storage system (BESS) production bases at home and abroad.
By the numbers: The round pushes DeltaX's total funding to about 45 billion KRW, more than triple the 13 billion KRW it had raised through its Series A in August of last year. Among funding rounds tracked, this one ranks in the top quartile by size.
What's the endgame? DeltaX designs and builds BESS systems rather than manufacturing battery cells, integrating modules, battery management systems, and enclosures. It is targeting revenue of more than 100 billion KRW in 2027 as projects in the US and Japan reach mass production.
US expansion: DeltaX is building its first North American manufacturing base in Walton County, Georgia, at a cost of $141 million. Construction starts this month, with completion targeted for the first half of 2027. The plant will serve North American utilities, AI data centres, and commercial and industrial ESS demand.
Why now? The company is also preparing a data-centre BESS business with SoftBankDealroom has a profile for this one. Try Dealroom → in Japan, aiming for annual capacity of 1GWh from a plant in Sakai, Osaka, by the second half of 2027. At home, DeltaX signed a 14.8 billion KRW investment agreement in July to build a production site in Uiryeong County.
What's next? DeltaX plans to launch a Series C round in the second half of this year to fund equipment for its global sites, with an IPO targeted for the first half of 2028.
"We will connect our domestic production base, the US Georgia plant, and the Japan ESS project, and expand into India and Europe," chief executive officer Kim Su-hun said (translated from Korean).
The signal: DeltaX's push into the US and Japan reflects growing demand for energy storage tied to AI data centres. By offering to build production lines for customers rather than only selling finished systems, it is betting on recurring component revenue as global energy infrastructure spending accelerates.
Read more: thelec.kr
Image credit: blmcalifornia
