Funding round
Sunfire Series E
Sunfire, which works in hydrogen technology solutions in Dresden, raised $233M in a Series E round announced on 5 Mar 2024, led by GIC. 9 firms took part. It is Sunfire's fourth venture round on record; the one before was a Growth in May 2022.
$233M
Amount raised
215,000,000 EUR converted
Not disclosed
Post-money valuation
9
Investors
1 lead
Valuation
What this round says about the price
Sunfire did not disclose a valuation in this round. It came 22 months after Sunfire's Growth. It is 39% of the $602M Sunfire has raised in the venture rounds on record. No later venture round is on record for Sunfire.
Investors
Who put money in
GIC led the round with 8 other firms.
Lead investor
- GIC backs 98 venture-backed companies new investor
Also in the round
- LGT Private Banking new investor
- backs 19 venture-backed companies new investor
- backs 6 venture-backed companies new investor
- Lightrock backs 62 venture-backed companies new investor
- backs 10 venture-backed companies new investor
- backs 12 venture-backed companies new investor
- Amazon Climate Pledge Fund new investor
- backs 15 venture-backed companies 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
The closest in time: 2 in Industrial Machinery & Supplies, then Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Industrial Machinery & Supplies | 1 Jan 2025 | $110M | not disclosed | not named |
| Industrial Machinery & Supplies | 17 May 2023 | $20M | not disclosed | DFJ Growth and Foundry |
| Applied Intuition Tech Companies | 12 Mar 2024 | $250M | $6.00B | Lux Capital and Porsche Ventures |
| Tech Companies | 5 Mar 2024 | $200M | $2.60B | Accel and Lightspeed Venture Partners |
| Rakuten Medical Pharmaceutical Products | 6 Mar 2024 | $119M | not disclosed | not named |
| Tech Companies | 13 Mar 2024 | $100M | not disclosed | not named |
| Tech Companies | 5 Mar 2024 | $50M | $435M | CapitalG |
| Tech Companies | 30 Apr 2024 | $150M | $900M | Accel |
Sources
Where this comes from
Reported by 9 sources.
Questions
Frequently asked
How much did Sunfire raise in its Series E round?
Sunfire raised $233M in its Series E round, announced in Mar 2024.
Who led Sunfire's Series E round?
GIC led it, with LGT Private Banking, Ahren Innovation Capital, Carbon Equity, Lightrock and Planet First Partners and 3 more.
What was Sunfire's valuation at the Series E round?
It was not disclosed.