Initial battery material Mitra Chem raised $ 15.6 million from scheduled $ 50 million financial circles, according to A Regulatory archiving Viewed by Techcrunch.
Mitra chem Develops materials to make a lithium iron-phosphate (LFP) batteries store more energy. Automobilists began to turn to LFP in an attempt to cut costs of electric vehicle battery packages, which may constitute a significant portion of the cost of a car.
Currently, every LFP material comes from outside the United States, with the vast majority Coming from China.
Techcrunch reached Mitra Chem for comment, but did not receive an immediate answer.
The new financial round comes in a difficult time for battery starts. Sales of electric vehicles (EVs) have not grown at the speed that some cars and analysts have predicted.
At the same time, the Trump administration and congressional Republicans mounted an attack on EVs and battery manufacturers. The house -version of the reconciliation bill Sunsubiros EV tax credits in 2025 or 2026, depending on how many EVS carriers sold. The Senate still has to weigh the bill.
Mitra chem previously raised a $ 60 million series B That closed in 2023. GM led the round, with in-Q-tel, social capital, and others participating. Chamath Palihapitiya’s social capital led the $ 20 million of series A in 2021. South Korean battery material L&F Corporation is a likely participant in the new round, investing $ 10 million in March, Korean Economic Daily has Reported.
The company received a grant of $ 100 million from the Department of Energy last year to build battery materials in Michigan. According to federal records, that Prize It is still in the books, but has not yet been paid.
