Funding round
new cleo Seed
new cleo, which works in nuclear reactor design and engineering in Paris, raised $118M in a Seed round announced on 31 Aug 2021. 3 firms took part. It is new cleo's first venture round on record.
$118M
Amount raised
Not disclosed
Post-money valuation
3
Investors
no lead named
Valuation
What this round says about the price
new cleo did not disclose a valuation in this round. It is new cleo's first venture round on record, in the year it was founded (2021). It is 18% of the $670M new cleo has raised in the venture rounds on record. new cleo raised again 10 months later: a Growth round of $315M in Jun 2022.
Investors
Who put money in
3 firms took part; no lead investor was named.
Investors
- Exor Ventures new investor
- backs 23 venture-backed companies new investor
- backs 22 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations, acquisitions and working capital.
- Product development
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
13 Seed rounds in Renewable energy companies within a year either side disclosed an amount; the median was $4.3M, and this round was 27 times the median. The closest in time, other companies' Seed rounds in Renewable energy companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Renewable energy companies | 1 Aug 2021 | $5.9M | not disclosed | Main Sequence |
| Renewable energy companies | 23 Sep 2021 | $15M | not disclosed | Prime Movers Lab |
| Renewable energy companies | 13 Oct 2021 | $12M | not disclosed | not named |
| Renewable energy companies | 18 Oct 2021 | $1.0M | not disclosed | not named |
| Renewable energy companies | 21 Oct 2021 | undisclosed | not disclosed | Version One Ventures and Icehouse Ventures |
| Renewable energy companies | 31 May 2021 | $1.2M | not disclosed | Vattenfall |
| Renewable energy companies | 7 Dec 2021 | $12M | not disclosed | not named |
| Renewable energy companies | 14 Apr 2021 | $6.2M | not disclosed | True Ventures and Cherry Ventures |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did new cleo raise in its Seed round?
new cleo raised $118M in its Seed round, announced in Aug 2021.
Which investors took part in new cleo's Seed round?
Exor Ventures, LIFTT and Club degli Investitori.
What was new cleo's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Renewable energy companies?
13 Seed rounds in Renewable energy companies within a year either side disclosed an amount; the median was $4.3M, and this round was 27 times the median.
Did new cleo raise again after this round?
Yes: a Growth round in Jun 2022 of $315M.