Funding round
Phoenix Tailings Series A
Phoenix Tailings, which works in rare earth metals refining and production in Exeter, raised $10M in a Series A round announced on 1 Aug 2021. It is Phoenix Tailings' first venture round on record.
$10M
Amount raised
Not disclosed
Post-money valuation
Valuation
What this round says about the price
Phoenix Tailings did not disclose a valuation in this round. It is Phoenix Tailings' first venture round on record, 2 years after it was founded in 2019. It is 20% of the $50M Phoenix Tailings has raised in the venture rounds on record. Phoenix Tailings raised again 54 months later: a Series B round of $40M in Feb 2026.
Phoenix Tailings' funding rounds
Phoenix Tailings has 2 venture rounds on record and 2 other deals. This one is highlighted.
- Series A this round 1 Aug 2021 $10M
- Grant not a venture round 4 Dec 2025, led by U.S. Department of Energy Advanced Research Projects Agency-Energy (ARPA-E) $1.6M
- Series B 19 Feb 2026, led by Olive Tree Capital $40M
- Debt not a venture round 16 Jun 2026, led by Office of Strategic Capital $500M
Comparable rounds
How it compares
7 Series A rounds in Metal Fabrication Services within a year either side disclosed an amount; the median was $8.0M, and this round was 1.3 times the median. The closest in time, other companies' Series A rounds in Metal Fabrication Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Metal Fabrication Services | 20 Jul 2021 | $19M | not disclosed | Intel Capital |
| Fractory Metal Fabrication Services | 6 Sep 2021 | $9.0M | not disclosed | OTB Ventures |
| Metal Fabrication Services | 17 Nov 2021 | $16M | not disclosed | Innovation Endeavors |
| Metal Fabrication Services | 29 Nov 2021 | $8.0M | not disclosed | Blackbird |
| Metal Fabrication Services | 9 Nov 2021 | $7.0M | not disclosed | Energy Capital Group and Alturki Ventures |
| Metal Fabrication Services | 10 Feb 2022 | $2.9M | not disclosed | AM Ventures |
| Metal Fabrication Services | 1 Jun 2022 | $6.4M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Phoenix Tailings raise in its Series A round?
Phoenix Tailings raised $10M in its Series A round, announced in Aug 2021.
What was Phoenix Tailings' valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Metal Fabrication Services?
7 Series A rounds in Metal Fabrication Services within a year either side disclosed an amount; the median was $8.0M, and this round was 1.3 times the median.
Did Phoenix Tailings raise again after this round?
Yes: a Series B round in Feb 2026 of $40M.