Funding round
DeepRoute.ai Series C
DeepRoute.ai, which works in autonomous driving solutions development in Fremont, raised $100M in a Series C round announced on 5 Nov 2024, at a $600M post-money valuation. It is DeepRoute.ai's third venture round on record; the one before was a Series B in Sep 2021.
$100M
Amount raised
$600M
Post-money valuation
0.6x
Step-up from the Series B
$1.00B in Sep 2021
17%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced DeepRoute.ai at $600M after the new money, 0.6 times the $1.00B of its Series B (Sep 2021). The $100M bought investors about 17% of the company. It came 38 months after DeepRoute.ai's Series B. It is 22% of the $450M DeepRoute.ai has raised in the venture rounds on record. No later venture round is on record for DeepRoute.ai.
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
258 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $55M, and this round was 1.8 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Lighthouse Tech Companies | 21 Nov 2024 | $370M | $2.40B | KKR |
| Tech Companies | 12 Nov 2024 | $200M | $1.90B | Premji Invest and Radical Ventures |
| Tech Companies | 25 Nov 2024 | $100M | $1.00B | Evolution Equity Partners and Cisco Investments |
| Tech Companies | 29 Nov 2024 | $80M | not disclosed | SoftBank Vision Fund |
| Tech Companies | 19 Nov 2024 | $75M | not disclosed | Growth Equity at Goldman Sachs Alternatives and Goldman Sachs |
| Eon Tech Companies | 26 Nov 2024 | $70M | $1.40B | BOND |
| Tech Companies | 19 Nov 2024 | $60M | not disclosed | Warburg Pincus |
| Tech Companies | 12 Nov 2024 | $49M | $298M | Axon Enterprise Inc. and W23 |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did DeepRoute.ai raise in its Series C round?
DeepRoute.ai raised $100M in its Series C round, announced in Nov 2024.
What was DeepRoute.ai's valuation at the Series C round?
$600M post-money.
How does it compare with other Series C rounds in Tech Companies?
258 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $55M, and this round was 1.8 times the median.