Lyten, a San Jose, CA-based company which specializes in 3D graphene decarbonizing supermaterials, raised $200M in Series B Equity funding.
The round, which brought the total amount to $410M, was led by Prime Movers Lab, with participation from participation from investors Stellantis, FedEx Corporation, Honeywell, and Walbridge Aldinger Company.
The company intends to use the funds to scale manufacturing and commercialize its first three product lines: Lithium-Sulfur batteries, lightweighted composites, and IoT sensors.
Founded in 2015, and led by CEO Dan Cook, Lyten is a pioneer in 3D graphene decarbonization supermaterials, which are being tuned for a wide range of applications, including Lithium-Sulfur batteries for use in the automotive, aerospace, defense, and other markets, a polymer composite that can reduce the amount of plastic used by up to half while maintaining structural and impact strength, and sensor arrays that significantly increase detection sensitivity and selectivity for use in automotive, industrial, health, and safety applications.
The company is on track to deliver commercial Lithium-Sulfur batteries from its automated pilot line in San Jose, CA at the beginning of 2024 to early adopting customers seeking higher energy density with no NMC (Nickel, Manganese, Cobalt) or Graphite.
FinSMEs
13/09/2023