Funding round
TROES Seed
TROES, which works in battery energy storage system manufacturing in Markham, raised $1.0M in a Seed round announced on 1 Mar 2021, led by Texas-based family office and York Angel Investor Group. 9 firms took part.
$1.0M
Amount raised
Not disclosed
Post-money valuation
9
Investors
2 leads
Valuation
What this round says about the price
TROES did not disclose a valuation in this round. It is TROES' first venture round on record, 3 years after it was founded in 2018. No later venture round is on record for TROES.
TROES' funding rounds
This is the only venture round on record for TROES.
- Seed this round 1 Mar 2021, led by Texas-based family office and York Angel Investor Group $1.0M
Investors
Who put money in
Texas-based family office and York Angel Investor Group led the round with 7 other firms.
Lead investors
- Texas-based family office new investor
- York Angel Investor Group new investor
Also in the round
- backs 55 venture-backed companies new investor
- backs 43 venture-backed companies new investor
- LAUNCHub backs 36 venture-backed companies new investor
- backs 2 venture-backed companies new investor
- backs 19 venture-backed companies new investor
- Golden properties new investor
- BDC new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
15 Seed rounds in Batteries within a year either side disclosed an amount; the median was $3.1M, and this round was 32% of the median. The closest in time, other companies' Seed rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 5 Mar 2021 | $3.5M | not disclosed | LiNiCo Corporation |
| Batteries | 16 Mar 2021 | $3.0M | not disclosed | Prime Impact Fund |
| Batteries | 17 Apr 2021 | $1.1M | not disclosed | Clean Energy Ventures and Energy Foundry |
| Batteries | 27 May 2021 | undisclosed | not disclosed | not named |
| Batteries | 11 Nov 2020 | $5.0M | not disclosed | not named |
| Batteries | 21 Jul 2021 | $3.0M | not disclosed | not named |
| Batteries | 15 Oct 2020 | $1.3M | not disclosed | Good Growth Capital |
| Batteries | 1 Sep 2021 | $3.0M | not disclosed | TDK Ventures and Foothill Ventures |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did TROES raise in its Seed round?
TROES raised $1.0M in its Seed round, announced in Mar 2021.
Who led TROES' Seed round?
Texas-based family office and York Angel Investor Group led it, with Artesian, Hyde Park Angels, LAUNCHub, OPEN and New Brunswick Innovation Foundation and 2 more.
What was TROES' valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Batteries?
15 Seed rounds in Batteries within a year either side disclosed an amount; the median was $3.1M, and this round was 32% of the median.