Funding round
EnerVenue Series A
EnerVenue, which works in metal-hydrogen battery manufacturing in Fremont, raised $100M in a Series A round announced on 15 Sep 2021, led by Schlumberger New Energy. 4 firms took part. It is EnerVenue's second venture round on record; the one before was a Seed in Aug 2020.
$100M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
EnerVenue did not disclose a valuation in this round. It came 13 months after EnerVenue's Seed. It is 24% of the $412M EnerVenue has raised in the venture rounds on record. EnerVenue raised again 54 months later: a Series B round of $300M in Mar 2026.
Investors
Who put money in
Schlumberger New Energy led the round with 3 other firms.
Lead investor
- Schlumberger New Energy new investor
Also in the round
- backs 44 venture-backed companies new investor
- Stanford University new investor
- Saudi Aramco
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
33 Series A rounds in Batteries within a year either side disclosed an amount; the median was $13M, and this round was 7.7 times the median. The closest in time, other companies' Series A rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 1 Aug 2021 | $7.0M | not disclosed | Energy Innovation Capital |
| Verkor Batteries | 1 Jul 2021 | $119M | not disclosed | EQT Ventures and Renault Group |
| Batteries | 15 Nov 2021 | $20M | not disclosed | not named |
| Batteries | 26 Nov 2021 | $16M | not disclosed | Fine Structure Ventures |
| Batteries | 8 Nov 2021 | $13M | not disclosed | Copec Wind Venture |
| Batteries | 30 Nov 2021 | $11M | not disclosed | 360 Capital |
| Batteries | 14 Dec 2021 | $140M | $630M | SDIC |
| Batteries | 8 Dec 2021 | $8.7M | not disclosed | Emerald Technology Ventures and 360 Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did EnerVenue raise in its Series A round?
EnerVenue raised $100M in its Series A round, announced in Sep 2021.
Who led EnerVenue's Series A round?
Schlumberger New Energy led it, with Aramco Ventures, Stanford University and Saudi Aramco.
What was EnerVenue's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Batteries?
33 Series A rounds in Batteries within a year either side disclosed an amount; the median was $13M, and this round was 7.7 times the median.
Did EnerVenue raise again after this round?
Yes: a Series B round in Mar 2026 of $300M.