Funding round
Apeel Sciences Growth
Reported as "Growth Equity"
Apeel Sciences, which works in edible produce preservation coating manufacturing in Goleta, raised $70M in a Growth round announced on 1 Aug 2018, led by Viking Global. 4 firms took part. It is Apeel Sciences' fourth venture round on record; the one before was a Series B in Dec 2016.
$70M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Apeel Sciences did not disclose a valuation in this round; its last disclosed one was $18M at the Series A (Jul 2015). It came 20 months after Apeel Sciences' Series B. It is 11% of the $640M Apeel Sciences has raised in the venture rounds on record. Apeel Sciences raised again 21 months later: a Growth round of $250M in May 2020, at $1.00B post-money.
Apeel Sciences' funding rounds
Apeel Sciences has 7 venture rounds on record. This one is highlighted.
- Seed 31 Dec 2013 $1.3M
- Series A 1 Jul 2015 $5.8M$18M post-money
- Series B 14 Dec 2016, led by Andreessen Horowitz and DBL Partners $33M
- Growth this round 1 Aug 2018, led by Viking Global $70M
- Growth 26 May 2020, led by GIC $250M$1.00B post-money
- Growth 27 Oct 2020 $30M
- Series E 18 Aug 2021, led by Temasek $250M$2.00B post-money
Investors
Who put money in
Viking Global led the round with 3 other firms.
Lead investor
- backs 54 venture-backed companies new investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies new investor
- backs 88 venture-backed companies new investor
- backs 85 venture-backed companies new investor
Joined the board: Walter Robb (Whole Foods Market).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Food Production:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Food Production | 5 Oct 2018 | $26M | not disclosed | not named |
| Food Production | 30 Oct 2018 | undisclosed | not disclosed | Hillhouse and VMG Partners |
| Food Production | 9 Oct 2018 | undisclosed | not disclosed | New Water Capital |
| Food Production | 4 Mar 2019 | $30M | not disclosed | The Craftory and Bezos Expeditions |
| Food Production | 17 Apr 2019 | undisclosed | not disclosed | not named |
| Food Production | 28 Aug 2019 | $75M | not disclosed | Cargill |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Apeel Sciences raise in its Growth round?
Apeel Sciences raised $70M in its Growth round, announced in Aug 2018.
Who led Apeel Sciences' Growth round?
Viking Global led it, with Andreessen Horowitz, Upfront Ventures and S2G Investments.
What was Apeel Sciences' valuation at the Growth round?
It was not disclosed; its last disclosed one was $18M at the Series A (Jul 2015).
Did Apeel Sciences raise again after this round?
Yes: a Growth round in May 2020 of $250M at $1.00B post-money.