Funding round
Mainspring Energy Series C
Mainspring Energy, which works in linear generator manufacturing in Menlo Park, raised $83M in a Series C round announced on 24 Jan 2018. 6 firms took part. It is Mainspring Energy's first venture round on record.
$83M
Amount raised
Not disclosed
Post-money valuation
6
Investors
no lead named
Valuation
What this round says about the price
Mainspring Energy did not disclose a valuation in this round. It is Mainspring Energy's first venture round on record, 8 years after it was founded in 2010. It is 14% of the $586M Mainspring Energy has raised in the venture rounds on record. Mainspring Energy raised again 40 months later: a Series D round of $95M in May 2021, at $440M post-money.
Mainspring Energy's funding rounds
Mainspring Energy has 4 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
- American Electric Power (AEP)
- Centrica Innovations
- Statoil Energy Ventures
- backs 9 venture-backed companies
- Breakthrough Energy backs 113 venture-backed companies
- Khosla Ventures backs 396 venture-backed companies
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Electric Supplies & Power Generation, then Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Electric Supplies & Power Generation | 23 Jul 2018 | $35M | $75M | Energize Capital and Activate Capital |
| Rappi Groceries Delivery | 24 Jan 2018 | $130M | not disclosed | Delivery Hero Ventures |
| Shipping Couriers | 27 Jan 2018 | $87M | not disclosed | not named |
| Lucid Tech Companies | 1 Jan 2018 | $72M | not disclosed | Meritech Capital and ICONIQ Capital |
| Medical Supply Manufacturers | 8 Jan 2018 | $65M | not disclosed | New Enterprise Associates |
| Tech Companies | 19 Jan 2018 | $55M | not disclosed | Bain Capital Ventures |
| Tech Companies | 15 Jan 2018 | $55M | not disclosed | Georgian |
| Real Estate - Agents & Managers | 18 Jan 2018 | $50M | not disclosed | Passport Capital |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Mainspring Energy raise in its Series C round?
Mainspring Energy raised $83M in its Series C round, announced in Jan 2018.
Which investors took part in Mainspring Energy's Series C round?
American Electric Power (AEP), Centrica Innovations, Statoil Energy Ventures, KCK Financial Services, Breakthrough Energy and Khosla Ventures.
What was Mainspring Energy's valuation at the Series C round?
It was not disclosed.
Did Mainspring Energy raise again after this round?
Yes: a Series D round in May 2021 of $95M at $440M post-money.