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Mitra Chem Secures Series B Funding Led by GM, Welcomes Alpha Wave Ventures to Board of Directors.

US lithium-ion battery materials firm Mitra Future Technologies Inc, or Mitra Chem, has received an investment from Alpha Wave Ventures as part of its Series B funding round. The financial terms of the investment were not disclosed, but it gave Alpha Wave one seat on MitraChem’s board. Mitra chem, which develops iron-based cathode materials to enable mass-market electrification in transportation and energy storage, aims to achieve mass production of its iron-rich cathodes by 2026. The Series B round, led by General Motors, also received investments from IQT and TechMet-Mercuria.

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