Primve Movers Lab, Stellantis and FedEx were among those who participated in the Series B funding round, according to Electrive. Earlier this year, Stellantis went a step further and started collaborating with experts at Lyten in order to develop a next-generation of lithium-sulphur batteries for future EVs.

Since its beginnings in 2015, Lyten raised over 410 million USD in capital, as the company is currently developing a three-dimensional graphene material platform, which can be used for multiple applications, outside of batteries. 3D-made graphene batteries for the automotive sector could be released by Lyten to manufacturers sometime next year.

This year in June, the Californian company implemented its first automated pilot production line, which can manufacture pouch and round cells. The unit can make about 200.000 cells per year.

Dan Cook, co-founder and CEO of Lyten, said that "we believe new materials hold the key to delivering fundamentally better-performing products that will also deliver gigaton scale decarbonization impacts. In every industry, materials limitations are a barrier to profitably reducing emissions and that is exactly where we are deploying 3D Graphene."