Funding round
Form Energy Series D
Form Energy, which works in energy storage technology development in Weirton, raised $200M in a Series D round announced on 22 Jul 2021, led by ArcelorMittal. 1 firm took part. It is Form Energy's fourth venture round on record; the one before was a Series C in Nov 2020.
$200M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Form Energy did not disclose a valuation in this round; its last disclosed one was $339M at the Series C (Nov 2020). It came 8 months after Form Energy's Series C. It is 10% of the $1.93B Form Energy has raised in the venture rounds on record. Form Energy raised again 15 months later: a Series E round of $450M in Oct 2022.
Form Energy's funding rounds
Form Energy has 7 venture rounds on record and 2 other deals. This one is highlighted.
- Series A 1 Jun 2018 $9.0M
- Series B 29 Aug 2019, led by Eni $40M
- Series C 30 Nov 2020, led by Coatue $76M$339M post-money
- Series D this round 22 Jul 2021, led by ArcelorMittal $200M
- Series E 4 Oct 2022, led by TPG $450M
- Series F 9 Oct 2024, led by T. Rowe Price $405M
- Debt not a venture round 16 Dec 2024 $50M
- Series G 12 Aug 2026, led by T. Rowe Price $750M
- Debt not a venture round 22 Sep 2026 $270M
Investors
Who put money in
ArcelorMittal led the round.
Lead investor
- ArcelorMittal new investor
Comparable rounds
How it compares
6 Series D rounds in Batteries within a year either side disclosed an amount; the median was $72M, and this round was 2.8 times the median. The closest in time, other companies' Series D rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 12 Jul 2021 | $34M | not disclosed | not named |
| Batteries | 10 Aug 2021 | $64M | $550M | Fubon Financial Holding Co. |
| Batteries | 19 Apr 2021 | $139M | not disclosed | GM Ventures |
| Batteries | 4 Jan 2022 | $80M | not disclosed | VinFast |
| Batteries | 13 Jul 2022 | $90M | not disclosed | Koch Strategic Platforms |
| Batteries | 8 Jul 2020 | $35M | not disclosed | ABB Technology Ventures and ND Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Form Energy raise in its Series D round?
Form Energy raised $200M in its Series D round, announced in Jul 2021.
Who led Form Energy's Series D round?
ArcelorMittal led it.
What was Form Energy's valuation at the Series D round?
It was not disclosed; its last disclosed one was $339M at the Series C (Nov 2020).
How does it compare with other Series D rounds in Batteries?
6 Series D rounds in Batteries within a year either side disclosed an amount; the median was $72M, and this round was 2.8 times the median.
Did Form Energy raise again after this round?
Yes: a Series E round in Oct 2022 of $450M.