Funding round
Antora Series A
Antora, which works in thermal energy storage solutions in Sunnyvale, raised $50M in a Series A round announced on 16 Feb 2022, led by Breakthrough Energy and Lowercarbon Capital. 17 firms took part. It is Antora's first venture round on record.
$50M
Amount raised
Not disclosed
Post-money valuation
17
Investors
2 leads
Valuation
What this round says about the price
Antora did not disclose a valuation in this round. It is Antora's first venture round on record, 4 years after it was founded in 2018. It is 6.7% of the $750M Antora has raised in the venture rounds on record. Antora raised again 24 months later: a Series B round of $150M in Feb 2024. Its next priced round, a Series C in Jul 2026, valued it at $2.47B.
Antora's funding rounds
Antora has 3 venture rounds on record and 2 other deals. This one is highlighted.
- Series A this round 16 Feb 2022, led by Breakthrough Energy and Lowercarbon Capital $50M
- Grant not a venture round 15 Nov 2023 $4.0M
- Series B 22 Feb 2024, led by Decarbonization Partners $150M
- Grant not a venture round 25 Jun 2024 $15M
- Series C 30 Jul 2026, led by G2 Venture Partners and Eclipse $550M$2.47B post-money
Investors
Who put money in
Breakthrough Energy and Lowercarbon Capital led the round with 15 other firms.
Lead investors
- Breakthrough Energy backs 113 venture-backed companies new investor
- Lowercarbon Capital backs 110 venture-backed companies new investor
Also in the round
- Shell Ventures new investor
- BHP Ventures new investor
- Grok Ventures new investor
- backs 17 venture-backed companies new investor
- backs 22 venture-backed companies new investor
- backs 10 venture-backed companies new investor
- backs 51 venture-backed companies new investor
- backs 6 venture-backed companies new investor
- backs 10 venture-backed companies new investor
- backs 79 venture-backed companies new investor
- backs 3 venture-backed companies new investor
- Osage University Partners new investor
- backs 94 venture-backed companies new investor
- backs 36 venture-backed companies new investor
- Seven Seven Six backs 90 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
36 Series A rounds in Batteries within a year either side disclosed an amount; the median was $13M, and this round was 3.8 times the median. The closest in time, other companies' Series A rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 1 Feb 2022 | $23M | not disclosed | Moore Strategic Ventures |
| Batteries | 3 Feb 2022 | $11M | not disclosed | LOTTE Ventures |
| Batteries | 1 Mar 2022 | $65M | not disclosed | BMW i Ventures |
| Batteries | 25 Jan 2022 | $27M | not disclosed | Deep Insight |
| Batteries | 26 Mar 2022 | $16M | not disclosed | not named |
| Batteries | 2 Mar 2022 | $12M | not disclosed | Trousdale Ventures and Industry Ventures |
| Batteries | 3 Mar 2022 | $11M | not disclosed | not named |
| Batteries | 13 Jan 2022 | $5.5M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Antora raise in its Series A round?
Antora raised $50M in its Series A round, announced in Feb 2022.
Who led Antora's Series A round?
Breakthrough Energy and Lowercarbon Capital led it, with Shell Ventures, BHP Ventures, Grok Ventures, Trust Ventures and Overture and 10 more.
What was Antora's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Batteries?
36 Series A rounds in Batteries within a year either side disclosed an amount; the median was $13M, and this round was 3.8 times the median.
Did Antora raise again after this round?
Yes: a Series B round in Feb 2024 of $150M.