Google Backs Tesla Co-Founder’s Redwood at $6 Billion Valuation

Redwood Materials Inc. added Alphabet Inc.’s Google as an investor in an expanded funding round that values the battery recycling and energy storage startup at more than $6 billion.

The firm, led by Tesla Inc. co-founder JB Straubel, raised a total of $425 million after opening up its Series E financing, Redwood said Wednesday. That’s up from the $350 million it had secured when the round was announced in October, led by venture capital firm Eclipse and NVentures, the venture arm of Nvidia Corp.