Helios led the Series B in 2017 when the company was focused on the commercialization of a novel cathode material. Lionano successfully built manufacturing capacity in China and became the sole independent supplier of high end cathode there. The company has since split into two entities: the China cathode business which is attracting acquisition interest from major industrials and Lionano SE which is focused on a novel solid state lithium ion battery technology. In 2020, Lionano finalized Joint Development Agreements with many of the leading players in the space including Daimler, BMW and the battery manufacturing company Saft. Helios has a Board Observer Seat.