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DateInvestorsAmountRound

N/A

Spinout

$20.0m

Series A
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$20.0m

Series A
N/A

$27.1m

Early VC
*

$60.0m

Series B
*

N/A

Series B
Total Funding€116m

Recent News about Mitra Chem

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Mitra Chem is a pioneering startup that is revolutionizing the battery product materials sector to expedite the process of electrification. The company is the first to incorporate machine learning into battery product research and development (R&D) and manufacturing. This innovative approach significantly reduces the time and cost to market, with the lab-to-production timeline for iron-based cathodes being reduced by over 90 percent.

Mitra Chem operates in the rapidly growing battery materials market, which is crucial for the advancement of clean energy. However, this market is currently underinvested and underdeveloped, particularly in North America. Mitra Chem is working to address this gap by developing a sustainable, North American battery materials supply chain.

The company's primary clients are likely to be manufacturers of electric vehicles and other battery-powered products, as well as energy companies that are transitioning to cleaner, more sustainable sources of power.

Mitra Chem's business model is centered on the use of machine learning to accelerate the R&D and manufacturing processes for battery materials. This allows the company to bring its products to market more quickly and at a lower cost than traditional methods. The company generates revenue by selling these advanced battery materials to its clients.

In the context of global clean energy goals, Mitra Chem's work is particularly significant. The White House has set ambitious targets for carbon-free electricity generation and zero-emission vehicle sales. However, non-Western countries currently control most of the world's cobalt and nickel processing capabilities. Mitra Chem's focus on iron-based cathodes could help to shift this balance and support Western electrification efforts.

Keywords: Battery Product Materials, Electrification, Machine Learning, R&D, Manufacturing, Sustainable Supply Chain, Clean Energy, Iron-Based Cathodes, Western Electrification, Accelerated Lab-to-Production.

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