Lyten Inks $200M Oversubscribed Series B Round
Summary
SAN JOSE, CA, Lyten, a pioneer in 3D graphene decarbonizing supermaterials, today announced it has raised $200 million as part of its over-subscribed Series B funding round. Lyten today announced it has raised $200 million as part of its over-subscribed Series B funding round to scale manufacturing and commercialize its first three product lines: Lithium-Sulfur batteries, lightweighted composites, and next generation IoT sensors. The round is led by Prime Movers Lab, a venture capital firm focused on investments in breakthrough scientific startups and has $1.2B in assets under management. Prime Movers Lab is joined with significant participation from strategic investors and sector leaders Stellantis (previously announced), FedEx Corporation, Honeywell, and Walbridge Aldinger Company. Lyten, founded in 2015, is led by a group of experienced executives from across Automotive, Energy, Batteries, Semiconductors, Manufacturing and Defense sectors; lists more than 350 patent matters; and is currently manufacturing Lyten 3D Graphene material, as well as its high-value applications, at its headquarters in San Jose, Calif.