Funding round
Pivot Bio Series D
Pivot Bio, which works in microbial nitrogen product manufacturing in Berkeley, raised $430M in a Series D round announced on 19 Jul 2021, led by DCVC and Temasek, at a $2.00B post-money valuation. 11 firms took part, 8 of them already investors. It is Pivot Bio's fifth venture round on record; the one before was a Series C in Apr 2020.
$430M
Amount raised
$2.00B
Post-money valuation
11
Investors
2 leads
22%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Pivot Bio at $2.00B after the new money. The $430M bought investors about 22% of the company. It came 15 months after Pivot Bio's Series C. It is 70% of the $617M Pivot Bio has raised in the venture rounds on record. No later venture round is on record for Pivot Bio.
Pivot Bio's funding rounds
Pivot Bio has 5 venture rounds on record. This one is highlighted.
- Seed 1 Jan 2014, led by DCVC and Monsanto Growth Ventures $750K
- Series A 1 Jan 2016, led by DCVC and Prelude Ventures $16M
- Series B 2 Oct 2018, led by Breakthrough Energy $70M
- Series C 30 Apr 2020, led by Breakthrough Energy and Temasek $100M
- Series D this round 19 Jul 2021, led by DCVC and Temasek $430M$2.00B post-money
Investors
Who put money in
DCVC and Temasek led the round with 9 other firms. DCVC, Temasek, Breakthrough Energy and Continental Grain Company and 4 more had backed Pivot Bio before.
Lead investors
Also in the round
- Generation Investment Management new investor
- backs 33 venture-backed companies new investor
- Rockefeller Capital Management new investor
- Breakthrough Energy backs 113 venture-backed companies existing investor
- backs 16 venture-backed companies existing investor
- backs 62 venture-backed companies existing investor
- Pavilion Capital existing investor
- Bunge existing investor
- backs 6 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing and scaling operations.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
Comparable rounds
How it compares
The closest in time: 1 in Chemicals, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Chemicals | 12 May 2022 | $102M | not disclosed | Koch Strategic Platforms |
| PsiQuantum Semiconductors | 27 Jul 2021 | $450M | $3.15B | BlackRock |
| Fireblocks Software Development Services | 27 Jul 2021 | $310M | $2.00B | Sequoia Capital and Stripes |
| Imperative Care Medical Supply Manufacturers | 15 Jul 2021 | $260M | not disclosed | D1 Capital Partners |
| Tech Companies | 26 Jul 2021 | $235M | $1.50B | Tiger Global |
| Food Production | 26 Jul 2021 | $235M | $1.50B | Tiger Global |
| Solaris Banks & ATMs | 26 Jul 2021 | $224M | $1.65B | Decisive Capital Management |
| Form Energy Batteries | 22 Jul 2021 | $200M | not disclosed | ArcelorMittal |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Pivot Bio raise in its Series D round?
Pivot Bio raised $430M in its Series D round, announced in Jul 2021.
Who led Pivot Bio's Series D round?
DCVC and Temasek led it, with Generation Investment Management, G2 Venture Partners, Rockefeller Capital Management, Breakthrough Energy and Continental Grain Company and 4 more.
What was Pivot Bio's valuation at the Series D round?
$2.00B post-money.