Funding round
Canaan Growth
Reported as "Growth Equity"
Canaan, which works in pharmaceutical equipment manufacturing in Wenzhou, raised $850M in a Growth round announced on 18 Apr 2023.
$850M
Amount raised
Not disclosed
Post-money valuation
Valuation
What this round says about the price
Canaan did not disclose a valuation in this round. It is Canaan's first venture round on record, 23 years after it was founded in 2000. No later venture round is on record for Canaan.
Canaan's funding rounds
This is the only venture round on record for Canaan.
- Growth this round 18 Apr 2023 $850M
Comparable rounds
How it compares
13 Growth rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $30M, and this round was 28 times the median. The closest in time, other companies' Growth rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Industrial Machinery & Supplies | 17 Apr 2023 | $384M | not disclosed | AEA Investors |
| Industrial Machinery & Supplies | 6 Apr 2023 | undisclosed | not disclosed | not named |
| Industrial Machinery & Supplies | 1 Jun 2023 | $11M | not disclosed | TiLT Capital |
| NEURA Robotics Industrial Machinery & Supplies | 19 Jul 2023 | $55M | not disclosed | Lingotto |
| Industrial Machinery & Supplies | 14 Dec 2022 | $5.8M | not disclosed | WindSail Capital Group |
| Industrial Machinery & Supplies | 17 Oct 2022 | $32M | not disclosed | Tiger Global and Bow Capital |
| Industrial Machinery & Supplies | 19 Oct 2022 | $31M | not disclosed | Stonebridge Partners |
| Industrial Machinery & Supplies | 13 Sep 2022 | $30M | not disclosed | CITIC Goldstone |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Canaan raise in its Growth round?
Canaan raised $850M in its Growth round, announced in Apr 2023.
What was Canaan's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Industrial Machinery & Supplies?
13 Growth rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $30M, and this round was 28 times the median.