Funding round
Turntide Series A
Turntide, which works in electric motor manufacturing in Alpharetta, raised $31M in a Series A round announced on 25 Jun 2019. 2 firms took part. It is Turntide's first venture round on record.
$31M
Amount raised
Not disclosed
Post-money valuation
2
Investors
no lead named
Valuation
What this round says about the price
Turntide did not disclose a valuation in this round. It is Turntide's first venture round on record, 6 years after it was founded in 2013. It is 19% of the $169M Turntide has raised in the venture rounds on record. Turntide raised again 7 months later: a Series B round of $25M in Jan 2020.
Turntide's funding rounds
Turntide has 4 venture rounds on record and 2 other deals. This one is highlighted.
- Series A this round 25 Jun 2019 $31M
- Series B 1 Jan 2020, led by BMW i Ventures $25M
- Growth 24 Sep 2020 $33M
- Growth 3 Mar 2021, led by Breakthrough Energy $80M
- Debt not a venture round 30 Jun 2021, led by Canada Pension Plan Investment Board, Monashee Investment Management LLC and JLL Spark $225M
- Grant not a venture round 10 Aug 2026 $23M
Investors
Who put money in
2 firms took part; no lead investor was named.
Investors
- JLL Spark new investor
- backs 2 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
5 Series A rounds in Electric Supplies & Power Generation within a year either side disclosed an amount; the median was $10M, and this round was 3.1 times the median. The closest in time, other companies' Series A rounds in Electric Supplies & Power Generation:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Electric Supplies & Power Generation | 10 Jan 2019 | $1.8M | not disclosed | Cottonwood Technology Fund |
| Electric Supplies & Power Generation | 19 Dec 2018 | $6.0M | not disclosed | not named |
| Electric Supplies & Power Generation | 28 Apr 2020 | $13M | not disclosed | Soros Fund Management and Siemens |
| Commonwealth Fusion Systems Electric Supplies & Power Generation | 26 May 2020 | $84M | not disclosed | Temasek |
| Electric Supplies & Power Generation | 12 May 2020 | $10M | not disclosed | ArcTern Ventures |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Turntide raise in its Series A round?
Turntide raised $31M in its Series A round, announced in Jun 2019.
Which investors took part in Turntide's Series A round?
JLL Spark and Meson Capital.
What was Turntide's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Electric Supplies & Power Generation?
5 Series A rounds in Electric Supplies & Power Generation within a year either side disclosed an amount; the median was $10M, and this round was 3.1 times the median.
Did Turntide raise again after this round?
Yes: a Series B round in Jan 2020 of $25M.