Total amount raised
$367 Millions
Latest funding date
07/01/2024
Location
Lyten has successfully raised $425 million in capital and secured a $650 million Letter of Intent from the Export-Import Bank of the United States to expand its lithium-sulfur battery manufacturing. The company specializes in advanced materials, including their proprietary Lyten 3D Graphene™, which is used in products like lithium-sulfur batteries, sensors, and composites.
Keep reading to explore the intricacies of Lyten's fundraising journey and the investors backing this innovative platform.
What Is Lyten?
The requested information about Lyten's background, including its founding year, location, and founders' names, was not found in the provided sources. However, here is what we do know:
Lyten is a supermaterial applications company that pioneers in Three-Dimensional Graphene technology to create advanced materials and products. They develop and manufacture products using 3D Graphene, including lithium-sulfur batteries, sensors, and composites. These products aim to be lighter, stronger, more cost-effective, and environmentally friendly.
The company has 315 employees, but details about its founding year, location, and founders' names were not available in the provided sources.
How Much Funding Has Lyten Raised?
- Series A
- Amount Raised: $160M
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the initial development and commercialization of Lyten's 3D Graphene technology.
- Grant
- Amount Raised: $3M
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development of lithium-sulfur battery technology.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: March 2023
- Lead Investors: Amazon Web Services
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage AWS's cloud services for scaling operations.
- Series B
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: Stellantis Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the manufacturing capabilities of lithium-sulfur batteries.
- Series B
- Amount Raised: $200M
- Date: September 2023
- Lead Investors: Prime Movers Lab
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale 3D Graphene applications and lithium-sulfur battery manufacturing.
- Grant
- Amount Raised: $4M
- Date: January 2024
- Lead Investors: US Department of Energy
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the commercialization of high-capacity, long cycle-life lithium-sulfur batteries.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: July 2024
- Lead Investors: The Luxembourg Future Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and commercialize advanced materials and products.
Total Amount Raised: $367M
Current Valuation: Not publicly disclosed
Key Investors
- Stellantis
- Details: Stellantis is the third-largest auto manufacturer in the world. They are a key player in the automotive industry, focusing on innovation and sustainability.
- Investment Focus Areas: Automotive manufacturing, electric vehicles, mobility solutions.
- Notable Investments: Electric vehicle technology, autonomous driving, connected car services.
- FedEx
- Details: FedEx is a global courier delivery services company. They are known for their extensive logistics network and commitment to innovation in transportation.
- Investment Focus Areas: Logistics, transportation, supply chain solutions.
- Notable Investments: Electric delivery vehicles, logistics technology, sustainable transportation solutions.
- Honeywell
- Details: Honeywell is a multinational conglomerate specializing in aerospace, building technologies, performance materials, and safety solutions. They are a leader in industrial innovation and advanced materials.
- Investment Focus Areas: Aerospace, industrial automation, advanced materials.
- Notable Investments: Aerospace technology, industrial IoT, advanced materials.
- Walbridge
- Details: Walbridge is a full-service construction company. They are known for their expertise in large-scale construction projects and sustainable building practices.
- Investment Focus Areas: Construction, engineering, project management.
- Notable Investments: Sustainable construction practices, advanced building materials, infrastructure projects.
- Prime Movers Lab
- Details: Prime Movers Lab is a venture capital firm that invests in breakthrough scientific startups. They focus on companies that are transforming industries and improving the quality of life.
- Investment Focus Areas: Energy, transportation, infrastructure, manufacturing, human augmentation.
- Notable Investments: Not publicly disclosed.
What's Next for Lyten?
Lyten's future is brimming with opportunities, starting with the $4 million grant from the U.S. Department of Energy. This funding will accelerate the commercialization of their lithium-sulfur battery technology, which promises higher energy density and reduced reliance on critical minerals. Collaborations with Stanford University, the University of Texas-Austin, and Arcadium Lithium further bolster their growth prospects.
With a total investment of $410 million, including a $200 million Series B round, Lyten is well-positioned for future fundraising. Potential additional grants from government agencies and continued investment from industry leaders and venture capitalists are on the horizon. The company is also exploring strategic partnerships and acquisitions to enhance its technological capabilities and market reach.
However, challenges remain. Material science hurdles in lithium-sulfur chemistry, competition from established lithium-ion technologies, and regulatory changes could pose significant obstacles. Despite these challenges, Lyten's focus on innovation and strategic collaborations positions them well for future success.
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