Funding round
Ascend Elements Series D
Ascend Elements, which works in advanced battery materials manufacturing in Westborough, raised $460M in a Series D round announced on 6 Sep 2023, led by Decarbonization Partners, Temasek and Qatar Investment Authority. 13 firms took part. It is Ascend Elements' fourth venture round on record; the one before was a Series C in Oct 2022.
$460M
Amount raised
Not disclosed
Post-money valuation
13
Investors
3 leads
Valuation
What this round says about the price
Ascend Elements did not disclose a valuation in this round; its last disclosed one was $55M at the Series B (Apr 2021). It came 11 months after Ascend Elements' Series C. It is 55% of the $830M Ascend Elements has raised in the venture rounds on record. No later venture round is on record for Ascend Elements.
Ascend Elements' funding rounds
Ascend Elements has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Decarbonization Partners, Temasek and Qatar Investment Authority led the round with 10 other firms.
Lead investors
- Decarbonization Partners new investor
- Temasek backs 195 venture-backed companies new investor
- Qatar Investment Authority backs 71 venture-backed companies new investor
Also in the round
- Tenaska new investor
- Alliance Resource Partners new investor
- PULSE - CMA CGM Energy Fund new investor
- BHP Ventures new investor
- Fifth Wall backs 103 venture-backed companies new investor
- backs 50 venture-backed companies new investor
- Mirae Asset Venture Investments backs 37 venture-backed companies new investor
- At One Ventures new investor
- Agave Partners new investor
- Alumni Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion and scaling operations.
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
The closest in time: 2 in Batteries, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Redwood Materials Batteries | 29 Aug 2023 | $1.00B | $5.25B | Goldman Sachs Asset Management and Capricorn's Technology Impact Fund |
| Batteries | 1 Nov 2022 | $54M | not disclosed | Helios Climate Ventures |
| Anthropic Tech Companies | 1 Sep 2023 | $8.00B | not disclosed | Amazon |
| Tech Companies | 10 Sep 2023 | $229M | $900M | Kedaara Capital |
| Insurance - Agents, Carriers & Brokers | 21 Sep 2023 | $100M | not disclosed | Eden Global Partners |
| Pharmaceutical Products | 13 Sep 2023 | $80M | not disclosed | not named |
| JOKR Groceries | 20 Sep 2023 | $50M | $800M | Convivialité Ventures |
| Ramp Tech Companies | 21 Aug 2023 | $300M | $5.80B | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Ascend Elements raise in its Series D round?
Ascend Elements raised $460M in its Series D round, announced in Sep 2023.
Who led Ascend Elements' Series D round?
Decarbonization Partners, Temasek and Qatar Investment Authority led it, with Tenaska, Alliance Resource Partners, PULSE - CMA CGM Energy Fund, BHP Ventures and Fifth Wall and 5 more.
What was Ascend Elements' valuation at the Series D round?
It was not disclosed; its last disclosed one was $55M at the Series B (Apr 2021).