Mitra Future Technologies, a Mountain View, CA-based innovator in North American lithium-ion battery materials, received an investment from Alpha Wave Ventures as part of a Series B funding round.
Alpha Wave joined other investors in this round, such as General Motors, Zeon, InQTel, Techmet-Mercuria, and GS Futures. As part of the investment, Elan Frantz joined Mitra Chem’s Board of Directors.
The company intends to use the funds to expand operations and development efforts.
Led by CEO Vivas Kumar, Mitra Chem is a lithium-ion battery materials product company that aims to shorten the lab-to-production timeline. Its first product category is iron-based cathodes for Western battery applications. The company takes cathode products from lab to industrial scale by leveraging an in-house artificial intelligence technology advantage to shorten the R&D timeline.
Commenting on the news, Vivas Kumar said: “The time for battery supply chain innovation in the U.S. is now because of groundbreaking government policies such as the IRA and BIL. Coupling these policies with private capital investors to accelerate the speed to scale is what will define the winners in the industry, and we’re glad that Alpha Wave chose to partner with us.”
