Funding round
Group14 Series B
Group14, which works in silicon battery material manufacturing in Woodinville, raised $17M in a Series B round announced on 21 Dec 2020, led by SK Materials. 2 firms took part, 2 of them already investors. It is Group14's second venture round on record; the one before was a Series A in Nov 2019.
$17M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Group14 did not disclose a valuation in this round. It came 13 months after Group14's Series A. It is 1.9% of the $898M Group14 has raised in the venture rounds on record. Group14 raised again 17 months later: a Series C round of $400M in May 2022.
Group14's funding rounds
Group14 has 4 venture rounds on record and 2 other deals. This one is highlighted.
- Series A 25 Nov 2019, led by Amperex Technologies Limited (ATL) $18M
- Series B this round 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
SK Materials led the round with 1 other firm. SK Materials and OVP Venture Partners had backed Group14 before.
Lead investor
- SK Materials existing investor
Also in the round
- OVP Venture Partners existing 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
6 Series B rounds in Batteries within a year either side disclosed an amount; the median was $25M, and this round was 69% of the median. The closest in time, other companies' Series B rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 1 Jan 2021 | $15M | not disclosed | not named |
| Ascend Elements Batteries | 12 Apr 2021 | $20M | $55M | Orbia Ventures |
| Batteries | 10 Jun 2021 | $100M | $1.00B | HSG |
| SVOLT Energy Technology Batteries | 28 Jul 2021 | $15.80B | not disclosed | Bank of China Group Investment (BOCGI) |
| Batteries | 27 Oct 2021 | $15M | not disclosed | not named |
| Batteries | 11 Dec 2019 | $29M | $80M | Grand Oaks Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Group14 raise in its Series B round?
Group14 raised $17M in its Series B round, announced in Dec 2020.
Who led Group14's Series B round?
SK Materials led it, with OVP Venture Partners.
What was Group14's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Batteries?
6 Series B rounds in Batteries within a year either side disclosed an amount; the median was $25M, and this round was 69% of the median.
Did Group14 raise again after this round?
Yes: a Series C round in May 2022 of $400M.