# Electra

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/electra

- Industry: Materials
- Headquarters: Boulder, US
- Website: www.electra.earth/
- Total disclosed funding: $180M
- Latest round: Series B (Dec 18, 2024)
- Investors on record: 15

## About

Founded in 2020 and based in Colorado, US, ElectraSteel, Inc., trading name under Electra, operates as a manufacturer of primary metal committed to decarbonizing ironmaking for green steel production using intermittent renewable energy and low-grade iron ores. In March 2026, Electra raised USD 30 million in venture debt funding from new investor J.P. Morgan. The company electrifies the refinement of low-grade iron ores to high-purity iron by leveraging proven industrial-scale electrochemical and hydrometallurgical processes. Subsequently, pure iron can be converted to steel using electricity-powered arc furnaces (EAFs). Electra generates revenue by selling low-carbon, high-purity iron to steelmakers, advanced purchase agreements, and environmental attribute credits supporting customers’ decarbonization goals across global supply. The company will use the financing to support its first commercial clean iron facility and advance scale-up activities.

## Funding rounds

- Series B, Dec 18, 2024, $180M — Temasek Holdings, Capricorn Investment Group, Toyota Tsusho, Rio Tinto Group, Collaborative Fund, S2G Ventures, Yamato Kogyo, Breakthrough Energy Ventures, Lowercarbon Capital, Nucor Corporation, BHP Ventures, Builders Vision, Earth Venture Capital, Roy Hill Holdings Pty Ltd., INTERFER Edelstahl Handelsgesellschaft mbH

## Investors

- Temasek Holdings — Series B
- Capricorn Investment Group (https://capitalatlas.ai/funds/capricorn-investment-group) — Series B
- Toyota Tsusho — Series B
- Rio Tinto Group — Series B
- Collaborative Fund (https://capitalatlas.ai/funds/collaborative-fund) — Series B
- S2G Ventures (https://capitalatlas.ai/funds/s2g-ventures) — Series B
- Yamato Kogyo — Series B
- Breakthrough Energy Ventures (https://capitalatlas.ai/funds/breakthrough-energy-ventures) — Series B
- Lowercarbon Capital (https://capitalatlas.ai/funds/lowercarbon-capital) — Series B
- Nucor Corporation — Series B
- BHP Ventures (https://capitalatlas.ai/funds/bhp-ventures) — Series B
- Builders Vision — Series B
- Earth Venture Capital (https://capitalatlas.ai/funds/earth-venture-capital) — Series B
- Roy Hill Holdings Pty Ltd. — Series B
- INTERFER Edelstahl Handelsgesellschaft mbH — Series B