Loading organizations...
§ Private Profile · Chicago
Develops & manufactures sodium-ion battery materials for battery manufacturers, enabling low-cost energy storage & electric vehicles.
Based in Chicago, Illinois, Bedrock Materials developed and manufactured sustainable sodium-ion battery precursor materials to serve as a low-cost, supply chain secure alternative to traditional lithium-ion technologies. The enterprise targeted the electric vehicle, micromobility, low-voltage application, and industrial traction markets by supplying North American sourced cathode materials directly to commercial cell manufacturers. Before ceasing operations in late 2025, the business raised $9 million in seed funding from prominent venture capital investors including Refactor Capital, Version One Ventures, and Trucks Venture Capital. Management ultimately shut down the manufacturing operations and returned the majority of the unspent capital to financial backers after determining that sodium-ion technology lacked a competitive market niche compared to maturing lithium iron phosphate batteries. Bedrock Materials was originally founded in 2023 by former Tesla engineer Spencer Gore and Stanford battery scientist Rafael A. Vilá.
Bedrock Materials has raised $9.0M across 1 funding round.
Bedrock Materials has raised $9.0M in total across 1 funding round.
Bedrock Materials has raised $9.0M in total across 1 funding round.
Bedrock Materials's investors include Refactor Capital, Andre Gharakhanian, Version One Ventures, Evergreen Climate Innovations, Kevin Moore.
Bedrock Materials has raised $9.0M across 1 funding round. Most recently, it raised $9.0M Seed in May 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2024 | $9M Seed | Refactor Capital, Andre Gharakhanian, Version ONE Ventures | Evergreen Climate Innovations, Kevin Moore | Announced |
Bedrock Materials was a startup developing sustainable sodium-ion battery materials as a low-cost, earth-abundant alternative to lithium-ion technology, using common metals like manganese, iron, sodium, and aluminum to reduce supply chain risks and costs.[1][2] It targeted underrepresented markets such as low-voltage applications, micromobility, and industrial traction, while serving battery manufacturers with North American-sourced products eligible for tax benefits.[2] Founded in 2023, the company raised $9 million in seed funding, opened an R&D center in Chicago, and began small-scale production of battery precursors, but shut down in late 2025 after determining sodium-ion lacked a compelling niche against maturing lithium-iron-phosphate (LFP) options.[3][5][7]
Bedrock Materials emerged from Stanford University in 2023, founded by CEO Spencer Gore, a former Tesla engineer, and CTO Rafael Vilá, a Stanford battery scientist.[1][3] The idea capitalized on surging lithium prices—up tenfold at the time—prompting a push for sodium-ion as a cheaper, domestically viable battery chemistry amid U.S. efforts to counter Chinese lithium dominance.[7] Early traction included a $9 million seed round, R&D-scale production starting in spring 2024, and relocation to Chicago's mHUB incubator, drawn by regional strengths like Argonne National Laboratory's sodium-ion expertise and universities including Northwestern and the University of Illinois.[3][4][5] The team featured executives from Tesla, Volkswagen, GM, Samsung, and QuantumScape, but by late 2025, Gore opted to wind down operations and return most funds, deeming the business model unviable.[7]
Despite these, the company found no market where sodium-ion outperformed LFP in cycle life, efficiency, or temperature range, leading to closure.[7]
Bedrock rode the 2023 lithium price spike and U.S. push for battery independence, aligning with trends in alternative chemistries to democratize EVs and energy storage amid China's supply dominance.[7] Timing was ideal post-IRA incentives and Argonne's sodium-ion research, positioning Chicago as a hardtech hub with academic and lab synergies.[3][5] It highlighted sodium-ion's promise for cost-sensitive applications but exposed challenges: maturing LFP eroded advantages, and without a clear niche, it influenced the ecosystem by validating the need for ruthless market validation in battery tech.[7] The shutdown underscores market forces favoring proven, scalable lithium variants over emerging alternatives.
Bedrock's closure signals sodium-ion's hurdles in EVs, as LFP closes performance gaps, but its materials expertise could pivot to energy storage niches where cycle life or cold-weather tolerance matter.[7] Trends like rising U.S. manufacturing and mineral diversification may revive similar plays, with Gore's team—ex-Tesla and Stanford talent—likely fueling new ventures. Bedrock humanized the battery race's volatility, proving even $9M-funded startups prioritize viable models over hype, laying groundwork for abundance if sodium carves a foothold.