Redwood Materials valuation, funding and investors

Redwood Materials works in critical materials manufacturing, based in Carson City, United States. Founded in 2017, it has about 760 employees.

Batteries Carson City Series E

VALUATION · TODAY

$6.52B −8% after Series E

Range $5.22B – $7.73B · Grade A

TODAY

+12 MO

$2.50B

$5.00B

$7.50B

$10.00B

$12.50B

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

Seed $2.00M

Series C $700M

Series D $1.00B

Series E $425M

ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY760 employees

−7%6m growth

−10%1y growth

+7%2y growth

500

1,000

Data from Jan 2021

TODAY

Predicted in 1 yr $6.02B −8% vs today

Predicted next raise $844M if a round comes

Winding-down probability 54%

Last round: Series E · $425M · Jan 2026
Valuation at last round: $6.00B
Headcount: 760 · flat
Grade: A
Founded: 2017

How VCMC values companies →

Redwood Materials valuation today

VCMC values Redwood Materials at $6.5B today, with a range of $5.2B to $7.7B and a grade of A. The valuation starts from its last funding round, a Series E round in Jan 2026.

Valuation by date (123 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

Redwood Materials: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2017	$7.03M	$2.56M – $19.3M	$9.63M (+37%)	before first round	–	unknown	D	0%
1 Feb 2017	$7.22M	$2.63M – $19.8M	$9.89M (+37%)	before first round	–	unknown	D	0%
1 Mar 2017	$7.39M	$2.69M – $20.3M	$10.1M (+37%)	before first round	–	unknown	D	0%
1 Apr 2017	$7.59M	$2.76M – $20.9M	$10.4M (+37%)	before first round	–	unknown	D	0%
28 Apr 2017	$4.11M	$3.56M – $9.43M	$8.20M (+100%)	after a round	–	unknown	B	0%
1 May 2017	$4.13M	$3.56M – $9.43M	$8.20M (+98%)	after a round	–	unknown	B	0%
1 Jun 2017	$4.38M	$3.56M – $9.43M	$8.20M (+87%)	after a round	–	unknown	B	0%
1 Jul 2017	$4.64M	$3.56M – $9.43M	$8.20M (+77%)	after a round	–	unknown	B	0%
1 Aug 2017	$4.92M	$3.56M – $9.43M	$8.20M (+67%)	after a round	–	unknown	B	0%
1 Sep 2017	$5.22M	$3.56M – $9.43M	$8.20M (+57%)	after a round	–	unknown	B	0%
1 Oct 2017	$5.52M	$3.56M – $9.43M	$8.20M (+48%)	after a round	–	unknown	B	0%
1 Nov 2017	$5.86M	$3.56M – $9.43M	$8.20M (+40%)	after a round	–	unknown	B	0%
1 Dec 2017	$6.20M	$3.56M – $9.43M	$8.20M (+32%)	after a round	–	unknown	B	0%
1 Jan 2018	$6.58M	$3.56M – $9.43M	$8.20M (+25%)	after a round	–	unknown	B	0%
1 Feb 2018	$6.98M	$3.56M – $9.43M	$8.20M (+18%)	after a round	–	unknown	B	0%
1 Mar 2018	$7.36M	$3.56M – $9.43M	$8.20M (+11%)	after a round	–	unknown	B	0%
1 Apr 2018	$7.80M	$3.56M – $9.43M	$8.20M (+5%)	after a round	–	unknown	B	0%
1 May 2018	$8.20M	$3.54M – $9.43M	$8.20M (0%)	after a round	–	unknown	B	0%
1 Jun 2018	$8.20M	$3.37M – $9.43M	$8.20M (0%)	after a round	–	unknown	B	0%
1 Jul 2018	$8.20M	$3.20M – $9.43M	$8.20M (0%)	after a round	–	unknown	B	0%
1 Aug 2018	$8.20M	$3.05M – $9.43M	$8.20M (0%)	after a round	–	unknown	B	0%
1 Sep 2018	$8.20M	$2.89M – $9.43M	$8.20M (0%)	after a round	–	unknown	B	0%
1 Oct 2018	$8.20M	$2.76M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Nov 2018	$8.20M	$2.62M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Dec 2018	$8.20M	$2.49M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Jan 2019	$8.20M	$2.37M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Feb 2019	$8.20M	$2.25M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Mar 2019	$8.20M	$2.15M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Apr 2019	$8.20M	$2.04M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 May 2019	$8.20M	$1.94M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Jun 2019	$8.20M	$1.85M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Jul 2019	$8.20M	$1.76M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Aug 2019	$8.20M	$1.67M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Sep 2019	$8.20M	$1.59M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Oct 2019	$8.20M	$1.51M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Nov 2019	$8.20M	$1.44M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Dec 2019	$8.20M	$1.37M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Jan 2020	$8.20M	$1.30M – $9.43M	$8.20M (0%)	after a round	–	unknown	C	0%
1 Feb 2020	$8.20M	$1.24M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 Mar 2020	$8.20M	$1.18M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 Apr 2020	$8.20M	$1.12M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 May 2020	$8.20M	$1.07M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 Jun 2020	$8.20M	$1.01M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 Jul 2020	$8.20M	$0.96M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 Aug 2020	$8.20M	$0.92M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 Sep 2020	$8.20M	$0.87M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 Oct 2020	$8.20M	$0.83M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 Nov 2020	$8.20M	$0.79M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 Dec 2020	$8.20M	$0.75M – $9.43M	$8.20M (0%)	after a round	–	unknown	D	0%
1 Jan 2021	$8.20M	$0.71M – $9.43M	$8.20M (0%)	after a round	32	unknown	D	0%
1 Feb 2021	$8.20M	$0.68M – $9.43M	$8.20M (0%)	after a round	32	unknown	D	0%
1 Mar 2021	$8.20M	$0.65M – $9.43M	$8.20M (0%)	after a round	32	unknown	D	0%
1 Apr 2021	$7.47M	$0.61M – $8.60M	$6.76M (-10%)	after a round	32	flat	D	0%
1 May 2021	$7.41M	$0.59M – $8.53M	$6.71M (-10%)	after a round	32	flat	D	0%
1 Jun 2021	$7.35M	$0.56M – $8.45M	$6.65M (-10%)	after a round	32	flat	D	0%
1 Jul 2021	$7.29M	$0.53M – $8.38M	$6.60M (-10%)	after a round	32	flat	D	0%
29 Jul 2021	$3.7B	$3.2B – $5.5B	$4.8B (+30%)	after a round	32	flat	A	0%
1 Aug 2021	$3.7B	$3.2B – $5.5B	$4.8B (+30%)	after a round	32	flat	A	0%
1 Sep 2021	$3.8B	$3.2B – $5.5B	$4.8B (+27%)	after a round	32	flat	A	0%
1 Oct 2021	$3.9B	$3.2B – $5.5B	$4.8B (+24%)	after a round	32	flat	A	0%
1 Nov 2021	$4.0B	$3.2B – $5.5B	$4.8B (+21%)	after a round	32	flat	A	0%
1 Dec 2021	$4.1B	$3.2B – $5.5B	$4.8B (+19%)	after a round	32	flat	A	0%
1 Jan 2022	$4.1B	$3.2B – $5.5B	$4.8B (+16%)	after a round	32	flat	A	0%
1 Feb 2022	$5.1B	$3.2B – $8.0B	$6.9B (+36%)	after a round	170	growing	B	0%
1 Mar 2022	$5.4B	$3.2B – $8.0B	$6.9B (+29%)	after a round	170	growing	B	0%
1 Apr 2022	$5.7B	$3.2B – $8.0B	$6.9B (+23%)	after a round	170	growing	B	0%
1 May 2022	$6.0B	$3.2B – $8.0B	$6.9B (+16%)	after a round	170	growing	B	0%
1 Jun 2022	$6.3B	$3.2B – $8.0B	$6.9B (+10%)	after a round	170	growing	B	0%
1 Jul 2022	$6.6B	$3.2B – $8.0B	$6.9B (+5%)	after a round	170	growing	B	0%
1 Aug 2022	$6.9B	$3.2B – $8.0B	$6.9B (0%)	after a round	170	growing	B	0%
1 Sep 2022	$6.9B	$3.4B – $8.0B	$6.9B (0%)	after a round	170	growing	B	0%
1 Oct 2022	$6.9B	$3.5B – $8.0B	$6.9B (0%)	after a round	170	growing	B	0%
1 Nov 2022	$6.9B	$3.1B – $8.0B	$6.9B (0%)	after a round	170	unknown	B	0%
1 Dec 2022	$6.9B	$3.0B – $8.0B	$6.9B (0%)	after a round	170	unknown	B	0%
1 Jan 2023	$8.3B	$4.2B – $9.6B	$8.3B (0%)	after a round	390	growing	B	0%
1 Feb 2023	$8.3B	$4.4B – $9.6B	$8.3B (0%)	after a round	390	growing	B	0%
1 Mar 2023	$8.3B	$4.6B – $9.6B	$8.3B (0%)	after a round	390	growing	B	0%
1 Apr 2023	$8.3B	$4.9B – $9.6B	$8.3B (0%)	after a round	390	growing	B	0%
1 May 2023	$8.3B	$5.1B – $9.6B	$8.3B (0%)	after a round	390	growing	B	0%
1 Jun 2023	$8.3B	$5.4B – $9.6B	$8.3B (0%)	after a round	390	growing	A	0%
1 Jul 2023	$8.3B	$5.7B – $9.6B	$8.3B (0%)	after a round	390	growing	A	0%
1 Aug 2023	$8.3B	$5.7B – $9.6B	$8.3B (0%)	after a round	390	growing	A	0%
30 Aug 2023	$5.3B	$4.6B – $7.9B	$6.8B (+30%)	after a round	390	unknown	A	0%
1 Sep 2023	$5.3B	$4.6B – $7.9B	$6.8B (+30%)	after a round	390	unknown	A	0%
1 Oct 2023	$5.4B	$4.6B – $7.9B	$6.8B (+27%)	after a round	510	up	A	0%
1 Nov 2023	$5.5B	$4.6B – $7.9B	$6.8B (+24%)	after a round	510	up	A	0%
1 Dec 2023	$5.6B	$4.6B – $7.9B	$6.8B (+22%)	after a round	510	up	A	0%
1 Jan 2024	$5.7B	$4.6B – $7.9B	$6.8B (+19%)	after a round	510	up	A	0%
1 Feb 2024	$5.9B	$4.6B – $7.9B	$6.8B (+16%)	after a round	510	up	A	0%
1 Mar 2024	$6.1B	$4.6B – $8.2B	$7.1B (+16%)	after a round	610	growing	A	0%
1 Apr 2024	$6.3B	$4.6B – $8.2B	$7.1B (+13%)	after a round	610	growing	A	0%
1 May 2024	$6.4B	$4.6B – $8.2B	$7.1B (+10%)	after a round	610	growing	A	0%
1 Jun 2024	$6.6B	$4.6B – $8.2B	$7.1B (+8%)	after a round	610	growing	A	0%
1 Jul 2024	$6.8B	$4.6B – $8.2B	$7.1B (+5%)	after a round	610	growing	A	0%
1 Aug 2024	$7.2B	$4.6B – $8.4B	$7.3B (+3%)	after a round	710	growing	B	0%
1 Sep 2024	$7.3B	$4.6B – $8.4B	$7.3B (0%)	after a round	710	growing	B	0%
1 Oct 2024	$7.3B	$4.6B – $8.4B	$7.3B (0%)	after a round	710	growing	B	0%
1 Nov 2024	$7.3B	$4.7B – $8.4B	$7.3B (0%)	after a round	710	growing	A	0%
1 Dec 2024	$7.3B	$4.7B – $8.4B	$7.3B (0%)	after a round	710	growing	A	0%
1 Jan 2025	$7.3B	$4.8B – $8.4B	$7.3B (0%)	after a round	710	growing	A	0%
1 Feb 2025	$7.3B	$4.8B – $8.4B	$7.3B (0%)	after a round	710	growing	A	0%
1 Mar 2025	$7.3B	$4.9B – $8.4B	$7.3B (0%)	after a round	710	growing	A	0%
1 Apr 2025	$7.3B	$5.0B – $8.4B	$7.3B (0%)	after a round	710	growing	A	0%
1 May 2025	$7.3B	$4.4B – $8.4B	$7.3B (0%)	after a round	710	up	B	0%
1 Jun 2025	$7.3B	$4.4B – $8.4B	$7.3B (0%)	after a round	710	up	B	0%
1 Jul 2025	$7.6B	$5.3B – $8.8B	$7.6B (0%)	after a round	839	growing	A	0%
1 Aug 2025	$7.6B	$5.4B – $8.8B	$7.6B (0%)	after a round	841	growing	A	0%
1 Sep 2025	$7.6B	$5.2B – $8.8B	$7.6B (0%)	after a round	841	growing	A	0%
1 Oct 2025	$7.6B	$4.0B – $8.8B	$7.6B (0%)	after a round	841	up	B	0%
1 Nov 2025	$7.6B	$3.9B – $8.8B	$7.6B (0%)	after a round	855	up	B	0%
1 Dec 2025	$7.6B	$3.9B – $8.8B	$7.6B (-1%)	after a round	855	up	B	0%
1 Jan 2026	$7.6B	$3.8B – $8.8B	$7.6B (-1%)	after a round	855	up	B	0%
29 Jan 2026	$6.0B	$5.2B – $9.0B	$7.8B (+30%)	after a round	855	up	A	0%
1 Feb 2026	$6.0B	$5.2B – $9.0B	$7.8B (+30%)	after a round	855	up	A	0%
1 Mar 2026	$6.1B	$5.2B – $9.0B	$7.8B (+27%)	after a round	855	up	A	0%
1 Apr 2026	$6.3B	$5.2B – $9.0B	$7.8B (+24%)	after a round	819	up	A	0%
1 May 2026	$6.4B	$5.2B – $8.9B	$7.7B (+21%)	after a round	779	flat	A	0%
1 Jun 2026	$6.4B	$5.2B – $8.2B	$6.9B (+9%)	after a round	779	flat	A	31%
1 Jul 2026	$6.5B	$5.2B – $8.2B	$6.9B (+7%)	after a round	779	flat	A	31%
1 Aug 2026	$6.6B	$5.2B – $8.2B	$6.8B (+4%)	after a round	779	flat	A	31%
1 Sep 2026	$6.6B	$5.2B – $8.2B	$6.8B (+2%)	after a round	779	flat	A	31%
1 Oct 2026	$6.5B	$5.2B – $7.7B	$6.1B (-6%)	after a round	760	flat	A	54%
24 Oct 2026	$6.5B	$5.2B – $7.7B	$6.0B (-8%)	after a round	760	flat	A	54%

Key facts about Redwood Materials

Founded: 2017
Headquarters: Carson City, United States
Employees: about 760 -11% in a year
Total raised: $4.33B
Funding rounds: 6
Last round: Series E Jan 2026

Redwood Materials was founded in 2017 by Andrew Stevenson and J. B. Straubel.

Redwood Materials funding history

Redwood Materials has 6 funding rounds on record, from Apr 2017 to Jan 2026, $4.33B in total. The latest disclosed valuation is $6.00B post-money (Series E, Jan 2026).

Series E 28 Jan 2026
Led by GV, Eclipse; with Capricorn, Goldman Sachs, Nvidia, Goldman Sachs Alternatives.
Sources: redwoodmaterials.com, redwoodmaterials.com, techcrunch.com and 2 more
$425M
$6.00B post-money
Series D 29 Aug 2023
Led by Goldman Sachs Asset Management, Capricorn's Technology Impact Fund, T. Rowe Price Associates, Inc.; with OMERS, Caterpillar Venture Capital, Microsoft’s Climate Innovation Fund, Deepwater Asset Management.
Sources: redwoodmaterials.com, techcrunch.com, wastedive.com and 1 more
$1.00B
$5.25B post-money
Debt 9 Feb 2023no round page
Led by U.S. Department of Energy.
Sources: accessipos.com, energy.gov, tsginvest.com
$2.00B
Debt 3 Jan 2023no round page
Investors not disclosed.
Sources: accessipos.com, axios.com
$200M
Series C 28 Jul 2021
Led by T. Rowe Price Associates, Inc.; with Goldman Sachs Asset Management, Baillie Gifford, Canada Pension Plan Investment Board, Fidelity, Capricorn's Technology Impact Fund, Breakthrough Energy, Amazon’s Climate Pledge Fund, Valor, Emerson Collective, Franklin Templeton.
Sources: redwoodmaterials.com, redwoodmaterials.com
$700M
$3.70B post-money
Seed 27 Apr 2017
Investors not disclosed.
Sources: accessipos.com
$2.0M
$4.1M post-money

Redwood Materials investors

22 investors have backed Redwood Materials; Capricorn's Technology Impact Fund, Goldman Sachs Asset Management and T. Rowe Price Associates, Inc. and 3 more led at least one round.

Capricorn's Technology Impact Fund lead, 2 rounds
Goldman Sachs Asset Management lead, 2 rounds
T. Rowe Price Associates, Inc. lead, 2 rounds
Eclipse lead
GV lead
U.S. Department of Energy lead
Amazon’s Climate Pledge Fund
Baillie Gifford
Breakthrough Energy
Canada Pension Plan Investment Board
Capricorn
Caterpillar Venture Capital
Deepwater Asset Management
Emerson Collective
Fidelity
Franklin Templeton
Goldman Sachs
Goldman Sachs Alternatives
Microsoft’s Climate Innovation Fund
Nvidia
OMERS
Valor

What Redwood Materials does

Redwood Materials works in batteries, with 15 recorded offerings and customers in energy, renewable energy and automotive.

Redwood Materials, Inc. is an American company engaged in the production and recycling of lithium-ion batteries, the manufacturing of battery materials for electromobility and energy storage, and the deployment of large-scale energy storage systems. The company also operates as a service provider, designing, integrating, and deploying energy storage solutions, and manages a consumer recycling program. Redwood Materials is ISO certified and serves clients in the United States and Europe.

Description from Veridion's company data.

Products and services

Critical Materials Manufacturing
Battery Materials Manufacturing
Lithium-Ion Battery Recycling
Battery Component Manufacturing
Energy Storage System Design and Integration
Energy Storage System Deployment
Battery Recycling Services
Critical Materials Stockpiling
Electromobility Battery Manufacturing
Renewable Energy Storage Solutions
Grid Energy Storage Solutions
Data Center Energy Storage Solutions
Consumer Battery Recycling Services
Advanced Battery Component Manufacturing
Energy Transition Acceleration Services

Markets

Energy
Renewable Energy
Automotive

Technology

Large-Scale Energy Storage Systems
Battery Recycling for Critical Materials Recovery
Lithium-Ion Battery Manufacturing
Cathode Active Material Production

Certifications

ISO 45001
ISO 14001

Supply chain

Sustainable Sourcing
Localized Sourcing
Reverse Logistics

Business model

Business-to-Business
Service Provider
Manufacturing
Enterprise

Industry codes (NAICS)

335910 Battery Manufacturing 50% match
221118 Other Electric Power Generation 30% match
562920 Materials Recovery Facilities 20% match

Questions about Redwood Materials

What is Redwood Materials worth?

Valuation $6.5B (range $5.2B to $7.7B), as of 24 Oct 2026. The last disclosed valuation was $6.00B (Series E, Jan 2026).

Has Redwood Materials raised money?

Redwood Materials has 6 funding rounds on record, from Apr 2017 to Jan 2026, $4.33B in total. The latest disclosed valuation is $6.00B post-money (Series E, Jan 2026).

Who has invested in Redwood Materials?

Capricorn's Technology Impact Fund, Goldman Sachs Asset Management, T. Rowe Price Associates, Inc., Eclipse, GV and U.S. Department of Energy, and 16 more. Lead investors include Capricorn's Technology Impact Fund, Goldman Sachs Asset Management, T. Rowe Price Associates, Inc. and Eclipse.

How many people work at Redwood Materials?

About 760, down 11% over the last year. Headcount rose from 32 in Jan 2021 to 855 in Nov 2025, then fell to 760 in Sep 2026.

What does Redwood Materials do?

Redwood Materials works in batteries, with 15 recorded offerings and customers in energy, renewable energy and automotive. Its main offerings are critical materials manufacturing, battery materials manufacturing and lithium-ion battery recycling.

When was Redwood Materials founded, and where is it based?

Redwood Materials was founded in 2017 and is based in Carson City, United States. It has about 760 employees, down 11% over the last year.

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