Exclusive: Mitra Chem is raising $50M for its cheaper, domestic battery materials | TechCrunch
Summary
Mitra Chem has raised $15.6 million toward a planned $50 million funding round. The company develops battery materials that improve lithium-iron-phosphate batteries and help reduce EV battery pack costs. The startup is also pursuing domestic production as it works to cut reliance on foreign supply, especially from China. Earlier investors and a Department of Energy grant show continued backing for the company's manufacturing plans.
Funding
Amount
$15.6M
Total raised
Date
March 20, 2025
Announcement date
Investors
Social Capital, Techcrunch
Lead investors
Company
mitrachem.com
Funded company
Classifications
industries
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applications
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AskAI Classifications
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