Alpha Wave Ventures invested in Mitra Future Technologies, Inc., a Mountain View, California-based pioneer in lithium-ion battery materials, as part of a Series B capital round.
Investors
- Alpha Wave
- GS Futures
- Zeon
- InQTel
- Techmet-Mercuria
- General Motors
Elan Frantz became a member of Mitra Chem’s board of directors in exchange for the investment.
Use of funds
The money will be used by the business to increase operations and development initiatives.
“The time for battery supply chain innovation in the U.S. is now because of groundbreaking government policies such as the IRA and BIL. The industry winners will be determined by how these regulations are combined with private capital investors to quicken the pace to scale, and we are happy that Alpha Wave opted to work with us.”
Vivas Kumar
About Mitra Chem
Aiming to reduce the time from lab to manufacturing, Mitra Chem is a lithium-ion battery materials product firm run by CEO Vivas Kumar. Iron-based cathodes for use in Western battery applications make up its first product group. The firm shortens the R&D schedule by utilizing an in-house artificial intelligence technological edge to get cathode technologies from lab to industrial scale.
