Funding round
Sunfire Series C
Sunfire, which works in hydrogen technology solutions in Dresden, raised $29M in a Series C round announced on 8 Jan 2019, led by Paul Wurth S.A.. 5 firms took part, 5 of them already investors. It is Sunfire's first venture round on record.
$29M
Amount raised
25,000,000 EUR converted
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Sunfire did not disclose a valuation in this round. It is Sunfire's first venture round on record, 9 years after it was founded in 2010. It is 4.8% of the $602M Sunfire has raised in the venture rounds on record. Sunfire raised again 33 months later: a Series D round of $125M in Oct 2021.
Investors
Who put money in
Paul Wurth S.A. led the round with 4 other firms. Paul Wurth S.A., Inven Capital, Idinvest Partners and Total Energy Ventures and 1 more had backed Sunfire before.
Lead investor
- Paul Wurth S.A. existing investor
Also in the round
- backs 16 venture-backed companies existing investor
- Idinvest Partners existing investor
- Total Energy Ventures existing investor
- Sunfire Entrepreneurs Club existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
8 Series C rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $24M, and this round was 1.2 times the median. The closest in time, other companies' Series C rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Moglix Industrial Machinery & Supplies | 18 Dec 2018 | $23M | not disclosed | Accel and Jungle Ventures |
| Industrial Machinery & Supplies | 4 Oct 2018 | $8.0M | not disclosed | Material Impact and Michigan Capital Advisors |
| Industrial Machinery & Supplies | 23 Jul 2019 | $12M | not disclosed | Cue Ball |
| UBTECH Industrial Machinery & Supplies | 3 May 2018 | $820M | $5.00B | Tencent |
| Industrial Machinery & Supplies | 10 Sep 2019 | $39M | not disclosed | Octopus Ventures |
| Industrial Machinery & Supplies | 17 May 2018 | $25M | not disclosed | Continental |
| Industrial Machinery & Supplies | 23 Apr 2018 | $30M | not disclosed | Tyche Partners |
| Industrial Machinery & Supplies | 5 Oct 2019 | $23M | not disclosed | Dundon Capital Partners |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Sunfire raise in its Series C round?
Sunfire raised $29M in its Series C round, announced in Jan 2019.
Who led Sunfire's Series C round?
Paul Wurth S.A. led it, with Inven Capital, Idinvest Partners, Total Energy Ventures and Sunfire Entrepreneurs Club.
What was Sunfire's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Industrial Machinery & Supplies?
8 Series C rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $24M, and this round was 1.2 times the median.
Did Sunfire raise again after this round?
Yes: a Series D round in Oct 2021 of $125M.