Funding round
Hydrostor Growth
Reported as "Growth Equity"
Hydrostor, which works in long-duration energy storage system development in Toronto, raised $37M in a Growth round announced on 19 Sep 2019. 6 firms took part, 5 of them already investors. It is Hydrostor's first venture round on record.
$37M
Amount raised
Not disclosed
Post-money valuation
6
Investors
no lead named
Valuation
What this round says about the price
Hydrostor did not disclose a valuation in this round. It is Hydrostor's first venture round on record, 9 years after it was founded in 2010. It is 7.2% of the $517M Hydrostor has raised in the venture rounds on record. Hydrostor raised again 28 months later: a Growth round of $250M in Jan 2022.
Hydrostor's funding rounds
Hydrostor has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
6 firms took part; no lead investor was named.
Investors
- Meridiam existing investor
- Elemental Energy new investor
- Canoe Financial existing investor
- backs 27 venture-backed companies existing investor
- MaRS Catalyst Fund existing investor
- Lorem Partners existing investor
Joined the board: Elisabeth Hivon (Meridiam).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and acquisitions.
- Product development
- Geographic expansion
- Scaling operations
- Acquisitions
Comparable rounds
How it compares
5 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $68M, and this round was 54% of the median. The closest in time, other companies' Growth rounds in Renewable energy companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Renewable energy companies | 9 Jul 2019 | $100M | not disclosed | Greater Pacific Capital |
| Renewable energy companies | 25 Jun 2019 | $55M | not disclosed | Balance Point Capital |
| Renewable energy companies | 21 Mar 2019 | $68M | not disclosed | Fort Capital |
| Renewable energy companies | 8 Feb 2019 | $68M | not disclosed | not named |
| GreenYellow Renewable energy companies | 18 Dec 2018 | $170M | not disclosed | Tikehau Capital and Bpifrance |
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 Hydrostor raise in its Growth round?
Hydrostor raised $37M in its Growth round, announced in Sep 2019.
Which investors took part in Hydrostor's Growth round?
Meridiam, Elemental Energy, Canoe Financial, ArcTern Ventures, MaRS Catalyst Fund and Lorem Partners.
What was Hydrostor's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Renewable energy companies?
5 Growth rounds in Renewable energy companies within a year either side disclosed an amount; the median was $68M, and this round was 54% of the median.
Did Hydrostor raise again after this round?
Yes: a Growth round in Jan 2022 of $250M.