Funding round
Palm Seed
Palm, which works in smartphone design and development in San Francisco, raised $6.1M in a Seed round announced on 4 Sep 2024, led by Speedinvest and Target Global. 5 firms took part, with 2 individual investors. It is Palm's fourth venture round on record; the one before was a Growth in Dec 2008.
$6.1M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Palm did not disclose a valuation in this round. It came 189 months after Palm's Growth. It is under 1% of the $756M Palm has raised in the venture rounds on record. No later venture round is on record for Palm.
Palm's funding rounds
Palm has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Growth 4 Jun 2007, led by Elevation Partners $325M
- Growth 24 Oct 2007, led by Elevation Partners $325M
- Private Equity not a venture round 24 Oct 2007, led by Elevation Partners $325M
- Growth 22 Dec 2008, led by Elevation Partners $100M
- Seed this round 4 Sep 2024, led by Speedinvest and Target Global $6.1M
Investors
Who put money in
Speedinvest and Target Global led the round with 3 other firms.
Lead investors
- Speedinvest backs 186 venture-backed companies new investor
- Target Global new investor
Also in the round
- Upfin new investor
- backs 227 venture-backed companies new investor
- Greens new investor
Individual investors: Job van der Voort and Philippe Teixeira da Mota.
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
9 Seed rounds in Device Manufacturing within a year either side disclosed an amount; the median was $3.6M, and this round was 1.7 times the median. The closest in time, other companies' Seed rounds in Device Manufacturing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Device Manufacturing | 4 Oct 2024 | $2.4M | not disclosed | Skyfall Ventures and Spintop Ventures |
| Device Manufacturing | 7 Jul 2024 | $1.6M | not disclosed | not named |
| Device Manufacturing | 28 Jan 2025 | $4.0M | not disclosed | Closed Loop Partners |
| Device Manufacturing | 2 May 2024 | $2.8M | not disclosed | Kvanted |
| Positron Device Manufacturing | 11 Feb 2025 | $24M | not disclosed | not named |
| Device Manufacturing | 1 Mar 2024 | $600K | not disclosed | not named |
| Device Manufacturing | 8 Feb 2024 | $9.3M | not disclosed | GV |
| Device Manufacturing | 29 May 2025 | $3.6M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Palm raise in its Seed round?
Palm raised $6.1M in its Seed round, announced in Sep 2024.
Who led Palm's Seed round?
Speedinvest and Target Global led it, with Upfin, Liquid 2 and Greens.
What was Palm's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Device Manufacturing?
9 Seed rounds in Device Manufacturing within a year either side disclosed an amount; the median was $3.6M, and this round was 1.7 times the median.