Electra Raises $186M in Series B Funding

▤ Summary

The round was led by Capricorn Investment Group and Temasek Holdings. Other investors included Breakthrough Energy Ventures, Builders Vision, Collaborative Fund, Earth Venture Capital, Lowercarbon Capital, S2G Investments, BHP Ventures, Rio Tinto and Roy Hill, Nucor and Yamato Kogyo, Interfer Edelstahl Group and Toyota Tsusho Corporation. This brought its total funding to date to $214M. The company intends to use the funds to expand operations and its development efforts. Led by CEO Sandeep Nijhawan, Electra is an iron production company developing a modular, patented process that uses the most flexible and cost-effective iron ores and intermittent renewable energy as inputs while producing pure iron.

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