Mitra Chem raising $60 million for battery materials research

Mitra Chem is raising $60 million in series B financing through an investment round led by General Motors. The California-based firm uses artificial intelligence to research new battery materials. Mitra and GM plan to develop iron-based cathode materials, like lithium manganese iron phosphate, as an alternative to more-expensive cathode materials found in current lithium-ion batteries. Mitra says its battery R&D facility can simulate, synthesize, and test thousands of cathode designs monthly in quantities ranging from grams to kilograms. It raised $20 million in series A financing in November 2021.