Funding round
Lunar Energy Growth
Reported as "Growth Equity"
Lunar Energy, which works in clean energy system manufacturing in Mountain View, raised $300M in a Growth round announced on 24 Aug 2022, led by Sunrun and SK Group. 4 firms took part, 2 of them already investors. It is Lunar Energy's first venture round on record.
$300M
Amount raised
Not disclosed
Post-money valuation
4
Investors
2 leads
Valuation
What this round says about the price
Lunar Energy did not disclose a valuation in this round. It is Lunar Energy's first venture round on record, 2 years after it was founded in 2020. It is 56% of the $532M Lunar Energy has raised in the venture rounds on record. Lunar Energy raised again 42 months later: a Series C round of $130M in Feb 2026.
Investors
Who put money in
Sunrun and SK Group led the round with 2 other firms. Sunrun and SK Group had backed Lunar Energy before.
Lead investors
- Sunrun existing investor
- SK Group existing investor
Also in the round
- Itochu new investor
- Honda new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
16 Growth rounds in Batteries within a year either side disclosed an amount; the median was $85M, and this round was 3.5 times the median. The closest in time, other companies' Growth rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 3 Aug 2022 | $90M | not disclosed | not named |
| Batteries | 14 Jul 2022 | $135M | not disclosed | GIC |
| Ascend Elements Batteries | 1 Sep 2022 | $50M | not disclosed | SK ecoplant |
| Batteries | 20 Jul 2022 | $46M | not disclosed | CVC DIF |
| Batteries | 7 Sep 2022 | $30M | not disclosed | Equinor |
| Batteries | 14 Jul 2022 | $7.0M | not disclosed | not named |
| Verkor Batteries | 7 Nov 2022 | $250M | not disclosed | not named |
| Batteries | 3 May 2022 | $119M | $1.00B | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Lunar Energy raise in its Growth round?
Lunar Energy raised $300M in its Growth round, announced in Aug 2022.
Who led Lunar Energy's Growth round?
Sunrun and SK Group led it, with Itochu and Honda.
What was Lunar Energy's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Batteries?
16 Growth rounds in Batteries within a year either side disclosed an amount; the median was $85M, and this round was 3.5 times the median.
Did Lunar Energy raise again after this round?
Yes: a Series C round in Feb 2026 of $130M.