The battery-recycling company founded by an ex-Tesla Inc. executive can count a high-profile artificial-intelligence company among investors in its latest funding round.

Redwood Materials said Thursday it had raised $350 million in a round led by the venture-capital firm Eclipse and Nvidia Corp.’s

NVDA venture-capital arm, NVentures. Nvidia’s contribution to the round was not disclosed, and a representative did not immediately return a request for comment.