- Companies
- Lyten
Lyten Funding, Investors & Competitors
Lyten has raised $360M across 2 funding rounds, most recently a $200M Series B in September 2023.
About Lyten
Lyten is a San Jose-headquartered advanced materials company producing 3D Graphene from methane-derived carbon for decarbonization applications. It manufactures lithium-sulfur batteries for electric vehicles and aerospace, alongside polymer composites reducing plastic content by 50 percent. Lyten develops sensors for automotive and industrial safety with enhanced selectivity.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Lyten Funding History
Lyten has raised a total of $360M across 2 funding rounds.
Lyten's first fundraising round was a $160M Series A in January 2021. The most recent completed round was a $200M Series B in September 2023.
Lyten funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2023 | Series B | Prime Movers Lab (lead); Walbridge; Stellantis Ventures; Triatomic Capital; FedEx; Honeywell | $200M | Lyten, Inc. is a San Jose-based materials science company pioneering 3D graphene supermaterials for decarbonization applications, including lithium-sulfur batteries that avoid nickel, manganese, cobalt, and graphite, lightweight composites, and next-generation IoT sensors. The company announced a $200 million oversubscribed Series B equity round on September 12, 2023, led by Prime Movers Lab with significant participation from strategic investors Stellantis, FedEx Corporation, Honeywell, and Walbridge Aldinger Company, plus additional venture capital and individual investors. This funding brings Lyten's total equity raised to over $410 million, aimed at scaling manufacturing and commercializing its first three product lines. The capital will support an automated pilot line in San Jose, California, with commercial lithium-sulfur batteries slated for delivery to early adopting customers at the beginning of 2024. Lyten's 3D graphene technology enables higher energy density batteries, lighter materials for industrial applications, and ultra-sensitive sensors, targeting large industries like electric vehicles, logistics, and aerospace. Strategic investors like Stellantis are collaborating on EV battery applications, while FedEx and Honeywell provide sector expertise in logistics and industrial tech. This Series B follows prior rounds including a 2016 seed of $10 million and 2018 Series A of $30 million, both involving early investors and Prime Movers Lab. The funding reflects continued investor interest in climate-tech and advanced battery innovations amid U.S. policy support like the Inflation Reduction Act, despite challenges in commercializing lithium-sulfur batteries at scale. |
| Jan 2021 | Series A | - | $160M | Lyten, founded in 2015 and headquartered in San Jose, California, develops lithium-sulfur batteries and 3D graphene supermaterials for energy storage, composites, and sensors, targeting applications in electric vehicles, drones, defense, datacenters, and sustainable manufacturing. The company emerged from stealth in September 2021 and has raised over $625 million in total equity by 2025, with key investors including Prime Movers Lab, Stellantis, FedEx, and Honeywell. In 2021, Lyten completed its Series B round, raising $200 million led by Prime Movers Lab and Stellantis to scale manufacturing, validate commercial use cases, and expand partnerships; this brought total funding at the time to over $240 million following prior seed ($10M in 2016) and Series A ($30M in 2018) rounds. A Series C in 2022 raised $127 million at approximately $1.33 billion valuation, achieving unicorn status. Lyten's traction includes plans for commercial lithium-sulfur battery production from its San Jose pilot line starting in 2024, partnerships like with Stellantis for EV batteries and AEVEX Aerospace for drones, and expansions such as a Nevada gigafactory announced in 2024. By 2025, it secured over $200 million more in equity for US and European growth, plus $650 million in potential EXIM financing, amid asset acquisitions from Northvolt. |
Who has invested in Lyten?
6 investors have backed Lyten across its funding rounds, including Prime Movers Lab, Honeywell, FedEx, Triatomic Capital, Stellantis Ventures and Walbridge.
Lead investors include Prime Movers Lab.
Lyten Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Sep 2023 | ||
| 1 | Lead | Sep 2023 | ||
| 1 | Participant | Sep 2023 | ||
| 1 | Participant | Sep 2023 | ||
This data is available for Pro users. Sign up to see all 6 Lyten investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Lyten
Lyten has acquired 5 companies to date.
Last acquisition by Lyten was on August 7th 2025. Lyten acquired Northvolt Ett for undisclosed valuation.
Latest Acquisitions by Lyten
| Description | - | Northvolt Drei is a gigafactory in Heide, Schleswig-Holstein, Germany, that manufactures lithium-ion battery cells for electric vehicles at an annual capacity of 60 GWh. This volume equates to batteries for roughly one million passenger cars per year. The facility integrates sustainable practices, including low-carbon production and recycling capabilities. Construction began in 2023 with production slated for 2026, forming part of Northvolt's European expansion alongside sites in Sweden and Poland. | Northvolt Labs is an R&D hub in Västerås, Sweden, advancing next-generation battery technologies such as sodium-ion cells and solid-state prototypes. The center conducts materials research, cell prototyping, and process optimization for higher energy density and faster charging. It collaborates with academic partners and supplies pilot cells to automotive clients. Facilities include high-throughput testing labs operational since 2021. | Northvolt Dwa is a highly automated production site in Gdansk, Poland, focused on energy storage systems alongside an attached R&D center for industrialization and engineering. The facility targets large-scale battery packs for grid and industrial applications. It supports Northvolt's diversification beyond automotive cells into stationary storage solutions. Operations ramp up with modular designs for scalability across Europe. | |
| HQ Country | |||||
| HQ City | Skellefteå | Hamburg | Västerås | Gdansk | |
| Deal Date | 7 Aug 2025 | 7 Aug 2025 | 7 Aug 2025 | 1 Jul 2025 | |
| Valuation | undisclosed | undisclosed | $5B | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Lyten acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Lyten Competitors
Lyten competitors include listed companies like Tesla and CATL, and private ones like Group14 Technologies, StoreDot, Nanotech Energy and InoBat.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $39M | - | $5.1B | - | ||
| Private | - | - | $1.5B | - | ||
| Private | - | - | $550M | - | ||
| Private | - | - | $476M | - | ||
| Publicly listed | $95B | $10B | $1.4T | 13.8x | ||
| Publicly listed | $63B | $16B | $214B | 2.1x |
Lyten Public Comps
Lyten is still privately-owned, but its public comps include Tesla, CATL, Air Liquide, Merck KGaA, LG Energy Solution, Vistra, Disco, Qnity Electronics, JX Advanced Metals and Grace Fabric.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $63B | $16B | 2.8x | 2.1x | 11.0x | 9.2x | |||
| $31B | $8.6B | 4.5x | 4.4x | 16.4x | 14.3x | |||
| $24B | $5.3B | 3.1x | 3.1x | 14.3x | 10.7x | |||
| $17B | $3.4B | 4.8x | 3.9x | 24.1x | 22.2x | |||
| $18B | $5B | 4.0x | 3.3x | 13.9x | 10.2x | |||
| $2.8B | $1.3B | 11.9x | 10.7x | 26.2x | 22.8x | |||
| $4.8B | $1.4B | 5.9x | 5.2x | 19.9x | 17.1x | |||
This data is available for Pro users. Sign up to see all Lyten competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Lyten
| When was Lyten founded? | Lyten was founded in 2015. |
| Where is Lyten headquartered? | Lyten is headquartered in San Jose, CA, United States. |
| Is Lyten publicly listed? | No, Lyten is a private, VC-backed company. |
| How much funding has Lyten raised? | Lyten has raised $360M across 2 funding rounds. |
| What was Lyten's last funding round? | Lyten's last funding round was a $200M Series B in September 2023, led by Prime Movers Lab. |
| Who are Lyten's investors? | Lyten's investors include Walbridge, Prime Movers Lab, Stellantis Ventures, Triatomic Capital, FedEx and Honeywell. |
| Which companies are comparable to Lyten? | Companies comparable to Lyten include Group14 Technologies, StoreDot, Nanotech Energy, InoBat, Tesla and CATL. |
| How many companies has Lyten acquired? | Lyten has acquired 5 companies, including Northvolt Ett, Northvolt Drei, Northvolt Labs, Northvolt Dwa and Cuberg. |
| What was the largest acquisition by Lyten? | The $5B acquisition of Northvolt Labs in August 2025 is the largest acquisition Lyten has made to date. |
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