Funding round
Koloma Growth
Reported as "Growth Equity"
Koloma, which works in natural hydrogen exploration and production in Denver, raised $246M in a Growth round announced on 9 Feb 2024, led by Khosla Ventures. 5 firms took part. It is Koloma's fourth venture round on record; the one before was a Growth in Jul 2023.
$246M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Koloma did not disclose a valuation in this round; its last disclosed one was $800M at the Growth (Aug 2022). It came 7 months after Koloma's Growth. It is 55% of the $447M Koloma has raised in the venture rounds on record. Koloma raised again 8 months later: a Series B round of $50M in Oct 2024.
Koloma's funding rounds
Koloma has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 19 Aug 2021 $5.0M
- Growth 2 Aug 2022 $56M$800M post-money
- Debt not a venture round 7 Jun 2023 amount not disclosed
- Growth 23 Jul 2023, led by Breakthrough Energy $91M
- Growth this round 9 Feb 2024, led by Khosla Ventures $246M
- Series B 15 Oct 2024, led by Osaka Gas and Mitsubishi Heavy Industries $50M
Investors
Who put money in
Khosla Ventures led the round with 4 other firms.
Lead investor
- Khosla Ventures backs 396 venture-backed companies new investor
Also in the round
- Amazon’s Climate Pledge Fund new investor
- backs 11 venture-backed companies new investor
- Breakthrough Energy backs 113 venture-backed companies new investor
- Energy Impact Partners backs 99 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Growth rounds in Oil & Gas - Extraction & Distribution within a year either side disclosed an amount; the median was $300M, and this round was 82% of the median. The closest in time, other companies' Growth rounds in Oil & Gas - Extraction & Distribution:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Oil & Gas - Extraction & Distribution | 10 Apr 2024 | $40M | not disclosed | not named |
| Saxum Energy Partners Oil & Gas - Extraction & Distribution | 10 Oct 2023 | $435M | not disclosed | not named |
| Oil & Gas - Extraction & Distribution | 22 Jun 2023 | $60M | not disclosed | not named |
| Oil & Gas - Extraction & Distribution | 5 Nov 2024 | undisclosed | not disclosed | Bruce Ross |
| Oil & Gas - Extraction & Distribution | 20 Apr 2023 | $300M | not disclosed | Energy Capital Partners |
| Yinson Production Oil & Gas - Extraction & Distribution | 14 Jan 2025 | $1.00B | $3.70B | not named |
Questions
Frequently asked
How much did Koloma raise in its Growth round?
Koloma raised $246M in its Growth round, announced in Feb 2024.
Who led Koloma's Growth round?
Khosla Ventures led it, with Amazon’s Climate Pledge Fund, United Airline Ventures, Breakthrough Energy and Energy Impact Partners.
What was Koloma's valuation at the Growth round?
It was not disclosed; its last disclosed one was $800M at the Growth (Aug 2022).
How does it compare with other Growth rounds in Oil & Gas - Extraction & Distribution?
5 Growth rounds in Oil & Gas - Extraction & Distribution within a year either side disclosed an amount; the median was $300M, and this round was 82% of the median.
Did Koloma raise again after this round?
Yes: a Series B round in Oct 2024 of $50M.