Boston Metal Secures $20M in Series C2 Funding, Bringing Total Round to $282M
Summary
The new funding brings the series total to $282 million.With this new capital, Boston Metal expands its presence in Asia, a market accounting for more than 70% of the worlds steel production. "Despite the challenging market conditions, Boston Metals valuation continues to increase while our persistent ability to secure funding from top-tier investors demonstrates the robust confidence in our vision and capabilities. "We recognize the critical importance of advancing sustainable practices in metal production," said Ichiro Miyoshi, CEO of Marunouchi Innovation Partners. Boston Metals Molten Oxide Electrolysis (MOE) technology is a direct, one-step process that can produce high-quality steel from abundant medium- and low-grade iron ores. Backed by visionary investors and led by a world-class team, Boston Metal is headquartered in Woburn, Massachusetts and has a wholly owned subsidiary in Brazil.