Funding round
EnerVenue Seed
EnerVenue, which works in metal-hydrogen battery manufacturing in Fremont, raised $12M in a Seed round announced on 27 Aug 2020. 1 firm took part, with 2 individual investors. It is EnerVenue's first venture round on record.
$12M
Amount raised
Not disclosed
Post-money valuation
1
Investors
no lead named
Valuation
What this round says about the price
EnerVenue did not disclose a valuation in this round. It is EnerVenue's first venture round on record, in the year it was founded (2020). It is 2.9% of the $412M EnerVenue has raised in the venture rounds on record. EnerVenue raised again 13 months later: a Series A round of $100M in Sep 2021.
Investors
Who put money in
1 firm took part; no lead investor was named.
Investors
- backs 16 venture-backed companies new investor
Individual investors: Dr. Peter Lee and Doug Kimmelman.
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
10 Seed rounds in Batteries within a year either side disclosed an amount; the median was $2.3M, and this round was 5.3 times the median. The closest in time, other companies' Seed rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 14 Aug 2020 | $4.0M | not disclosed | Entrada Ventures |
| Batteries | 15 Oct 2020 | $1.3M | not disclosed | Good Growth Capital |
| Batteries | 16 Jun 2020 | $1.0M | not disclosed | not named |
| Batteries | 11 Nov 2020 | $5.0M | not disclosed | not named |
| Batteries | 5 Mar 2021 | $3.5M | not disclosed | LiNiCo Corporation |
| Batteries | 16 Mar 2021 | $3.0M | not disclosed | Prime Impact Fund |
| TROES Batteries | 1 Mar 2021 | $1.0M | not disclosed | Texas-based family office and York Angel Investor Group |
| Batteries | 17 Apr 2021 | $1.1M | not disclosed | Clean Energy Ventures and Energy Foundry |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did EnerVenue raise in its Seed round?
EnerVenue raised $12M in its Seed round, announced in Aug 2020.
Which investors took part in EnerVenue's Seed round?
Embark Ventures.
What was EnerVenue's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Batteries?
10 Seed rounds in Batteries within a year either side disclosed an amount; the median was $2.3M, and this round was 5.3 times the median.
Did EnerVenue raise again after this round?
Yes: a Series A round in Sep 2021 of $100M.