Funding round
Lilac Series A
Lilac, which works in lithium extraction technology licensing in Oakland, raised $20M in a Series A round announced on 20 Feb 2020, led by Breakthrough Energy. 17 firms took part. It is Lilac's second venture round on record; the one before was a Seed in Jan 2018.
$20M
Amount raised
Not disclosed
Post-money valuation
17
Investors
1 lead
Valuation
What this round says about the price
Lilac did not disclose a valuation in this round. It came 25 months after Lilac's Seed. It is 5.7% of the $350M Lilac has raised in the venture rounds on record. Lilac raised again 19 months later: a Series B round of $150M in Sep 2021, at $554M post-money.
Lilac's funding rounds
Lilac has 5 venture rounds on record and 3 other deals. This one is highlighted.
- Grant not a venture round 21 Feb 2017 $150K
- Seed 16 Jan 2018 $800K
- Other not a venture round 15 Jan 2019, led by Prime Impact Fund and Tribeca Early Stage Partners $2.5M$18M post-money
- Series A this round 20 Feb 2020, led by Breakthrough Energy $20M
- Series B 22 Sep 2021, led by Lowercarbon Capital and T. Rowe Price $150M$554M post-money
- Series C 12 Feb 2024, led by Mercuria, Lowercarbon Capital and Breakthrough Energy $145M
- Series D 30 Jun 2026 $34M
- Grant not a venture round 20 Aug 2026 $100M
Investors
Who put money in
Breakthrough Energy led the round with 16 other firms.
Lead investor
- Breakthrough Energy backs 113 venture-backed companies new investor
Also in the round
- backs 24 venture-backed companies new investor
- Lowercarbon Capital backs 110 venture-backed companies new investor
- The Grantham Foundation new investor
- backs 42 venture-backed companies new investor
- backs 40 venture-backed companies new investor
- Endeavor8 new investor
- Energy Impact Partners backs 99 venture-backed companies new investor
- backs 33 venture-backed companies new investor
- Kleiner Perkins backs 285 venture-backed companies new investor
- Microsoft new investor
- backs 29 venture-backed companies new investor
- OWL Rock Capital Partners new investor
- backs 20 venture-backed companies new investor
- backs 62 venture-backed companies new investor
- backs 44 venture-backed companies new investor
- Syngenta Group Ventures new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
16 Series A rounds in Chemicals within a year either side disclosed an amount; the median was $10M, and this round was 2.0 times the median. The closest in time, other companies' Series A rounds in Chemicals:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Chemicals | 25 Feb 2020 | $17M | not disclosed | DCVC |
| Chemicals | 4 Mar 2020 | $20M | not disclosed | Breakthrough Energy |
| Chemicals | 20 Mar 2020 | $11M | not disclosed | not named |
| Chemicals | 9 Jan 2020 | $8.0M | not disclosed | Tin Shed Ventures |
| Chemicals | 16 Apr 2020 | $14M | not disclosed | Prime Movers Lab and University of Tokyo Edge Capital (UTEC) |
| Chemicals | 1 Jun 2020 | $10M | not disclosed | Connecticut Innovations |
| Chemicals | 28 Sep 2019 | $4.5M | not disclosed | Ospraie Ag Science |
| Chemicals | 19 Aug 2019 | $5.8M | not disclosed | The Engine and GOOSE Capital |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Lilac raise in its Series A round?
Lilac raised $20M in its Series A round, announced in Feb 2020.
Who led Lilac's Series A round?
Breakthrough Energy led it, with The Engine, Lowercarbon Capital, The Grantham Foundation, Astanor and BAM Ventures and 11 more.
What was Lilac's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Chemicals?
16 Series A rounds in Chemicals within a year either side disclosed an amount; the median was $10M, and this round was 2.0 times the median.
Did Lilac raise again after this round?
Yes: a Series B round in Sep 2021 of $150M at $554M post-money.