Mitra Chem is raising $50M for its cheaper, domestic battery materials

, By Techcrunch
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Battery material startup Mitra Chem has raised $15.6 million of a planned $50 million funding round, according to a regulatory filing seen by TechCrunch.

Mitra Chem is developing materials to make lithium-iron-phosphate (LFP) batteries store more energy. Automakers have begun to turn to LFP in an attempt to trim costs from electric vehicle battery packs, which can make up a significant portion of a car’s cost.

Currently, all LFP material comes from outside the United States, with the vast majority coming from China.

TechCrunch reached out…



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Mitra Chem is raising $50M for its cheaper, domestic battery materials

, Published By Techcrunch
FundingWorld News


Battery material startup Mitra Chem has raised $15.6 million of a planned $50 million funding round, according to a regulatory filing seen by TechCrunch.

Mitra Chem is developing materials to make lithium-iron-phosphate (LFP) batteries store more energy. Automakers have begun to turn to LFP in an attempt to trim costs from electric vehicle battery packs, which can make up a significant portion of a car’s cost.

Currently, all LFP material comes from outside the United States, with the vast majority coming from China.

TechCrunch reached out…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Apple to open up underlying AI technology to developers
Next News
At WWDC 2025, Apple introduces an AI-powered Shortcuts app
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