Funding round
Sunfire Series D
Sunfire, which works in hydrogen technology solutions in Dresden, raised $125M in a Series D round announced on 18 Oct 2021, led by Lightrock and Planet First Partners. 4 firms took part. It is Sunfire's second venture round on record; the one before was a Series C in Jan 2019.
$125M
Amount raised
Not disclosed
Post-money valuation
4
Investors
2 leads
Valuation
What this round says about the price
Sunfire did not disclose a valuation in this round. It came 33 months after Sunfire's Series C. It is 21% of the $602M Sunfire has raised in the venture rounds on record. Sunfire raised again 7 months later: a Growth round of $215M in May 2022.
Investors
Who put money in
Lightrock and Planet First Partners led the round with 2 other firms.
Lead investors
- Lightrock backs 62 venture-backed companies new investor
- backs 10 venture-backed companies new investor
Also in the round
- backs 12 venture-backed companies new investor
- HydrogenOne Capital new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Series D rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $100M, and this round was 1.3 times the median. The closest in time, other companies' Series D rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Industrial Machinery & Supplies | 15 Sep 2021 | $200M | not disclosed | SoftBank Vision Fund |
| Industrial Machinery & Supplies | 21 Dec 2021 | $30M | not disclosed | not named |
| Exotec Industrial Machinery & Supplies | 17 Jan 2022 | $335M | $2.00B | Goldman Sachs Asset Management |
| Industrial Machinery & Supplies | 26 Jan 2022 | $62M | not disclosed | SoftBank Vision Fund |
| Industrial Machinery & Supplies | 7 Apr 2022 | $50M | $530M | not named |
| Industrial Machinery & Supplies | 14 Jun 2022 | $100M | not disclosed | Capital Today |
| Industrial Machinery & Supplies | 20 Jul 2022 | $150M | not disclosed | Temasek and True Light Capital |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Sunfire raise in its Series D round?
Sunfire raised $125M in its Series D round, announced in Oct 2021.
Who led Sunfire's Series D round?
Lightrock and Planet First Partners led it, with Carbon Direct Capital and HydrogenOne Capital.
What was Sunfire's valuation at the Series D round?
It was not disclosed.
How does it compare with other Series D rounds in Industrial Machinery & Supplies?
7 Series D rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $100M, and this round was 1.3 times the median.
Did Sunfire raise again after this round?
Yes: a Growth round in May 2022 of $215M.