Battery material startup Mitra Chem has raised $15.6 million of a planned $50 million funding round, according to a regulatory filing seen by TechCrunch.
Mitra Chem is developing materials to make lithium-iron-phosphate (LFP) batteries store more energy. Automakers have begun to turn to LFP in an attempt to trim costs from electric vehicle battery packs, which can make up a significant portion of a car’s cost.
Currently, all LFP material comes from outside the United States, with the vast majority coming from China.
TechCrunch reached out to Mitra Chem for comment, but did not receive an immediate reply.
The new funding round comes at a challenging time for battery startups. Sales of electric vehicles (EVs) haven’t grown at the rate some automakers and analysts had predicted.
Simultaneously, the Trump administration and Congressional Republicans have mounted an assault on EVs and battery manufacturers. The House version of the reconciliation bill would sunset EV tax credits in 2025 or 2026, depending on how many EVs automakers have sold. The Senate has yet to weigh in on the bill.
Mitra Chem previously raised a $60 million Series B that closed in 2023. GM led the round, with In-Q-Tel, Social Capital, and others participating. Chamath Palihapitiya’s Social Capital led the startup’s $20 million Series A in 2021. South Korean battery materials company L&F Corporation is a likely participant in the new round, having invested $10 million in March, Korean Economic Daily has reported.
The company was awarded a $100 million grant from the Department of Energy last year to build a battery materials plant in Michigan. According to federal records, that award is still on the books but hasn’t yet been paid out.
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![Believe It: ‘Naruto’ Gets In On the Anime Trading Card Game Craze
The Naruto anime turns 25 next year, and to mark the occasion, it’s getting a new trading card game. Developed by Bandai Card Games, the TCG will be a strategy-focused experience for the competitive-minded folk. Along with the big anniversary milestone, this’ll be the franchise’s first dip into the trading card waters since the early 2010s. Since then, Bandai’s been gradually putting out similar games for popular shonen like Digimon, One Piece, and Dragon Ball. As a member of the Big Three and important to shonen culture, it makes sense Naruto gets a fresh game. In a brief statement, Naruto creator Masashi Kishimoto expressed joy at his franchise “growing larger once again. I truly hope these cards find their way to both their hands and your hearts.” Kishimoto also drew artwork for the TCG featuring the teen versions of Boruto’s dad and his longtime best bud Sasuke Uchiha, and they’re the stars of the trailer below. [embed]https://www.youtube.com/watch?v=MefaL2fKvzk[/embed] Bandai’s keeping mum for now on how Naruto Card Game plays or even what characters will be in it. Details will be revealed at Gen Con Indy, where attendees will also get to play it for themselves. The annual tabletop game convention runs from July 30-August 2 this year, and playtests will run during the whole event. Each one-hour session is free, and you can get tickets here. If you can’t make it, then you’ll surely see more of it before the TCG hits stores in 2027. It’s probably not the only thing being cooked up to honor the anime—after all, Pierrot never did release those four brand-new episodes to celebrate the 20th anniversary. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who. #Naruto #Anime #Trading #Card #Game #CrazeBandai,Naruto,Trading Cards Believe It: ‘Naruto’ Gets In On the Anime Trading Card Game Craze
The Naruto anime turns 25 next year, and to mark the occasion, it’s getting a new trading card game. Developed by Bandai Card Games, the TCG will be a strategy-focused experience for the competitive-minded folk. Along with the big anniversary milestone, this’ll be the franchise’s first dip into the trading card waters since the early 2010s. Since then, Bandai’s been gradually putting out similar games for popular shonen like Digimon, One Piece, and Dragon Ball. As a member of the Big Three and important to shonen culture, it makes sense Naruto gets a fresh game. In a brief statement, Naruto creator Masashi Kishimoto expressed joy at his franchise “growing larger once again. I truly hope these cards find their way to both their hands and your hearts.” Kishimoto also drew artwork for the TCG featuring the teen versions of Boruto’s dad and his longtime best bud Sasuke Uchiha, and they’re the stars of the trailer below. [embed]https://www.youtube.com/watch?v=MefaL2fKvzk[/embed] Bandai’s keeping mum for now on how Naruto Card Game plays or even what characters will be in it. Details will be revealed at Gen Con Indy, where attendees will also get to play it for themselves. The annual tabletop game convention runs from July 30-August 2 this year, and playtests will run during the whole event. Each one-hour session is free, and you can get tickets here. If you can’t make it, then you’ll surely see more of it before the TCG hits stores in 2027. It’s probably not the only thing being cooked up to honor the anime—after all, Pierrot never did release those four brand-new episodes to celebrate the 20th anniversary. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who. #Naruto #Anime #Trading #Card #Game #CrazeBandai,Naruto,Trading Cards](https://gizmodo.com/app/uploads/2026/06/naruto-tcg-hed-1280x853.jpg)

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