Stratus Materials: Raises $12M in Series A Financing

Stratus Materials Raises $12M in Series A Financing

• Stratus Materials, a Pittsburgh, PA-based developer and manufacturer of cathode active materials for lithium-ion batteries, raised $12M in Series A funding (in mid-2022)
• The round was led by Breakthrough Energy Ventures (BEV) with participation from DNS Capital
• The company intends to use the funds to accelerate growth and expand operations
• The company is a developer and manufacturer of cathode active materials for lithium-ion batteries
• The company is primarily focused on cathode solutions for light- and medium-duty electric vehicles and other applications with similar requirements
• It is currently producing its proprietary cathode active material at an early pilot-scale and is providing samples to a small group of potential initial customers