Funding round
Turntide Series B
Turntide, which works in electric motor manufacturing in Alpharetta, raised $25M in a Series B round announced on 1 Jan 2020, led by BMW i Ventures. 3 firms took part. It is Turntide's second venture round on record; the one before was a Series A in Jun 2019.
$25M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Turntide did not disclose a valuation in this round. It came 7 months after Turntide's Series A. It is 15% of the $169M Turntide has raised in the venture rounds on record. Turntide raised again 8 months later: a Growth round of $33M in Sep 2020.
Turntide's funding rounds
Turntide has 4 venture rounds on record and 2 other deals. This one is highlighted.
- Series A 25 Jun 2019 $31M
- Series B this round 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
BMW i Ventures led the round with 2 other firms.
Lead investor
- backs 50 venture-backed companies new investor
Also in the round
- Breakthrough Energy backs 113 venture-backed companies new investor
- Fifth Wall backs 103 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations.
- Scaling operations
Comparable rounds
How it compares
The closest in time: 2 in Electric Supplies & Power Generation, then Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Electric Supplies & Power Generation | 5 Dec 2019 | $13M | not disclosed | Cottonwood Technology Fund |
| Electric Supplies & Power Generation | 5 Jun 2020 | $18M | not disclosed | not named |
| UPSIDE Foods Meat Production & Processing | 22 Jan 2020 | $161M | $500M | SoftBank Group and Norwest |
| Tech Companies | 13 Jan 2020 | $150M | not disclosed | Declaration Partners |
| Loans & Financing | 26 Jan 2020 | $125M | not disclosed | SoftBank and SoftBank’s Latin America Fund |
| HighRadius Tech Companies | 7 Jan 2020 | $125M | $1.00B | ICONIQ Capital |
| Tech Companies | 1 Jan 2020 | $125M | $415M | March Capital |
| Telecommunications | 21 Jan 2020 | $103M | not disclosed | SoftBank Group |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Turntide raise in its Series B round?
Turntide raised $25M in its Series B round, announced in Jan 2020.
Who led Turntide's Series B round?
BMW i Ventures led it, with Breakthrough Energy and Fifth Wall.
What was Turntide's valuation at the Series B round?
It was not disclosed.
Did Turntide raise again after this round?
Yes: a Growth round in Sep 2020 of $33M.