Funding round
Ascend Elements Series B
Ascend Elements, which works in advanced battery materials manufacturing in Westborough, raised $20M in a Series B round announced on 12 Apr 2021, led by Orbia Ventures, at a $55M post-money valuation. 1 firm took part. It is Ascend Elements' first venture round on record.
$20M
Amount raised
$55M
Post-money valuation
1
Investors
1 lead
36%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Ascend Elements at $55M after the new money. The $20M bought investors about 36% of the company. It is Ascend Elements' first venture round on record, 6 years after it was founded in 2015. It is 2.4% of the $830M Ascend Elements has raised in the venture rounds on record. Ascend Elements raised again 17 months later: a Growth round of $50M in Sep 2022.
Ascend Elements' funding rounds
Ascend Elements has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Orbia Ventures led the round.
Lead investor
- Orbia Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations.
- Scaling operations
Comparable rounds
How it compares
8 Series B rounds in Batteries within a year either side disclosed an amount; the median was $28M, and this round was 72% of the median. The closest in time, other companies' Series B rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 10 Jun 2021 | $100M | $1.00B | HSG |
| SVOLT Energy Technology Batteries | 28 Jul 2021 | $15.80B | not disclosed | Bank of China Group Investment (BOCGI) |
| Batteries | 1 Jan 2021 | $15M | not disclosed | not named |
| Group14 Batteries | 21 Dec 2020 | $17M | not disclosed | SK Materials |
| Batteries | 27 Oct 2021 | $15M | not disclosed | not named |
| Batteries | 14 Feb 2022 | $47M | not disclosed | HydrogenOne Capital Growth plc |
| Batteries | 9 Feb 2022 | $33M | not disclosed | Energy Impact Partners |
| Verkor Batteries | 1 Mar 2022 | $22M | not disclosed | Plastic Omnium |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Ascend Elements raise in its Series B round?
Ascend Elements raised $20M in its Series B round, announced in Apr 2021.
Who led Ascend Elements' Series B round?
Orbia Ventures led it.
What was Ascend Elements' valuation at the Series B round?
$55M post-money.
How does it compare with other Series B rounds in Batteries?
8 Series B rounds in Batteries within a year either side disclosed an amount; the median was $28M, and this round was 72% of the median.
Did Ascend Elements raise again after this round?
Yes: a Growth round in Sep 2022 of $50M.