Funding round
Group14 Series A
Group14, which works in silicon battery material manufacturing in Woodinville, raised $18M in a Series A round announced on 25 Nov 2019, led by Amperex Technologies Limited (ATL). 5 firms took part. It is Group14's first venture round on record.
$18M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Group14 did not disclose a valuation in this round. It is Group14's first venture round on record, 4 years after it was founded in 2015. It is 2.0% of the $898M Group14 has raised in the venture rounds on record. Group14 raised again 13 months later: a Series B round of $17M in Dec 2020.
Group14's funding rounds
Group14 has 4 venture rounds on record and 2 other deals. This one is highlighted.
- Series A this round 25 Nov 2019, led by Amperex Technologies Limited (ATL) $18M
- Series B 21 Dec 2020, led by SK Materials $17M
- Grant not a venture round 1 Jan 2022, led by U.S. Department of Energy $100M
- Series C 4 May 2022, led by Porsche Ventures $400M
- Grant not a venture round 20 Sep 2024, led by U.S. Department of Energy $200M
- Series D 20 Aug 2025, led by SK, Inc. $463M
Investors
Who put money in
Amperex Technologies Limited (ATL) led the round with 4 other firms.
Lead investor
- Amperex Technologies Limited (ATL) new investor
Also in the round
- BASF Venture Capital new investor
- Cabot Corporation new investor
- Showa Denko (now Resonac) new investor
- OVP Venture Partners new investor
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
7 Series A rounds in Batteries within a year either side disclosed an amount; the median was $6.5M, and this round was 2.8 times the median. The closest in time, other companies' Series A rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 20 Oct 2019 | $3.5M | not disclosed | Sequoia India's scale up programme Surge and Exfinity Ventures |
| Batteries | 28 Jan 2020 | $19M | not disclosed | SBI Investment and Future Shape |
| Batteries | 17 Sep 2019 | undisclosed | not disclosed | not named |
| Batteries | 4 Feb 2020 | $9.4M | not disclosed | SET Ventures |
| Batteries | 13 Aug 2019 | $3.2M | not disclosed | not named |
| Batteries | 30 Apr 2020 | $22M | not disclosed | 3CR-Riverbend Capital Advisors |
| Batteries | 8 May 2020 | $5.0M | not disclosed | i2E Management Company, Inc. |
| Batteries | 3 Aug 2020 | $6.5M | not disclosed | BGF |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Group14 raise in its Series A round?
Group14 raised $18M in its Series A round, announced in Nov 2019.
Who led Group14's Series A round?
Amperex Technologies Limited (ATL) led it, with BASF Venture Capital, Cabot Corporation, Showa Denko (now Resonac) and OVP Venture Partners.
What was Group14's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Batteries?
7 Series A rounds in Batteries within a year either side disclosed an amount; the median was $6.5M, and this round was 2.8 times the median.
Did Group14 raise again after this round?
Yes: a Series B round in Dec 2020 of $17M.