Funding round
Hermeus Series A
Hermeus, which works in hypersonic aircraft design and manufacturing in Atlanta, raised $16M in a Series A round announced on 29 Oct 2020, led by Canaan. 4 firms took part, 3 of them already investors. It is Hermeus' first venture round on record.
$16M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Hermeus did not disclose a valuation in this round. It is Hermeus' first venture round on record, 2 years after it was founded in 2018. It is 3.4% of the $466M Hermeus has raised in the venture rounds on record. Hermeus raised again 17 months later: a Series B round of $100M in Mar 2022. Its next priced round, a Series C in Apr 2026, valued it at $1.00B.
Investors
Who put money in
Canaan led the round with 3 other firms. Khosla Ventures, Bling Capital and Revolution had backed Hermeus before.
Lead investor
- backs 169 venture-backed companies new investor
Also in the round
- Khosla Ventures backs 396 venture-backed companies existing investor
- backs 64 venture-backed companies existing investor
- backs 141 venture-backed companies existing investor
Joined the board: Rich Boyle (Canaan Partners).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
6 Series A rounds in Aircraft Parts & Services within a year either side disclosed an amount; the median was $19M, and this round was 83% of the median. The closest in time, other companies' Series A rounds in Aircraft Parts & Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aircraft Parts & Services | 16 Dec 2020 | $21M | not disclosed | Breakthrough Energy and The Ecosystem Integrity Fund |
| Aircraft Parts & Services | 25 Jan 2021 | $22M | not disclosed | Xplorer Capital and Futury Regio Growth Fund |
| Aircraft Parts & Services | 20 May 2020 | $10M | not disclosed | R7 Partners |
| Aircraft Parts & Services | 1 Apr 2021 | $8.1M | not disclosed | not named |
| Aircraft Parts & Services | 26 Jul 2021 | $17M | not disclosed | B. Riley Venture Capital |
| Aircraft Parts & Services | 4 Aug 2021 | $40M | not disclosed | Marlinspike and Prosperity7 Ventures |
Sources
Where this comes from
Reported by 4 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Hermeus raise in its Series A round?
Hermeus raised $16M in its Series A round, announced in Oct 2020.
Who led Hermeus' Series A round?
Canaan led it, with Khosla Ventures, Bling Capital and Revolution.
What was Hermeus' valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Aircraft Parts & Services?
6 Series A rounds in Aircraft Parts & Services within a year either side disclosed an amount; the median was $19M, and this round was 83% of the median.
Did Hermeus raise again after this round?
Yes: a Series B round in Mar 2022 of $100M.