Funding round
Etched Series A
Etched, which works in superintelligence hardware development and manufacturing in San Jose, raised $120M in a Series A round announced on 25 Jun 2024, led by Primary VC and Positive Sum Ventures. 14 firms took part, with 8 individual investors. It is Etched's second venture round on record; the one before was a Seed in Mar 2023.
$120M
Amount raised
Not disclosed
Post-money valuation
14
Investors
2 leads
Valuation
What this round says about the price
Etched did not disclose a valuation in this round; its last disclosed one was $34M at the Seed (Mar 2023). It came 15 months after Etched's Seed. It is 9.1% of the $1.33B Etched has raised in the venture rounds on record. Etched raised again 19 months later: a Growth round of $500M in Jan 2026, at $5.00B post-money.
Etched's funding rounds
Etched has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Primary VC and Positive Sum Ventures led the round with 12 other firms.
Lead investors
- backs 71 venture-backed companies new investor
- Positive Sum Ventures new investor
Also in the round
- backs 32 venture-backed companies new investor
- backs 16 venture-backed companies new investor
- Two Sigma Ventures backs 60 venture-backed companies new investor
- backs 42 venture-backed companies new investor
- backs 28 venture-backed companies new investor
- Skybox Data Centers new investor
- Fundomo new investor
- backs 7 venture-backed companies new investor
- backs 18 venture-backed companies new investor
- backs 5 venture-backed companies new investor
- Galaxy backs 113 venture-backed companies new investor
- backs 26 venture-backed companies new investor
Individual investors: Peter Thiel, Amjad Masad, Thomas Dohmke, Balaji Srinivasan, Jawed Karim, Bryan Johnson, Charlie Cheever and Stanley Druckenmiller.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
51 Series A rounds in Electronical Components Manufacturing within a year either side disclosed an amount; the median was $16M, and this round was 7.5 times the median. The closest in time, other companies' Series A rounds in Electronical Components Manufacturing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Electronical Components Manufacturing | 12 Jun 2024 | $28M | not disclosed | Porsche Ventures and Project A |
| Electronical Components Manufacturing | 20 Jun 2024 | $26M | not disclosed | Quantonation and Invest-NL |
| Electronical Components Manufacturing | 25 Jun 2024 | $22M | not disclosed | Quantonation |
| Electronical Components Manufacturing | 27 Jun 2024 | $20M | not disclosed | Innavest and Invest-NL |
| Electronical Components Manufacturing | 1 May 2024 | $44M | not disclosed | not named |
| Electronical Components Manufacturing | 1 Jul 2024 | $16M | not disclosed | not named |
| Electronical Components Manufacturing | 12 Apr 2024 | $14M | not disclosed | not named |
| Electronical Components Manufacturing | 8 Aug 2024 | $7.1M | not disclosed | NordicNinja |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Etched raise in its Series A round?
Etched raised $120M in its Series A round, announced in Jun 2024.
Who led Etched's Series A round?
Primary VC and Positive Sum Ventures led it, with Fontinalis, Earthshot Ventures, Two Sigma Ventures, Hummingbird VC and Oceans and 7 more.
What was Etched's valuation at the Series A round?
It was not disclosed; its last disclosed one was $34M at the Seed (Mar 2023).
How does it compare with other Series A rounds in Electronical Components Manufacturing?
51 Series A rounds in Electronical Components Manufacturing within a year either side disclosed an amount; the median was $16M, and this round was 7.5 times the median.
Did Etched raise again after this round?
Yes: a Growth round in Jan 2026 of $500M at $5.00B post-money.