Funding round
Twelve Growth
Reported as "Growth Equity"
Twelve, which works in carbon transformation technology development in Berkeley, raised $400M in a Growth round announced on 19 Sep 2024, led by TPG. 1 firm took part. It is Twelve's third venture round on record; the one before was a Series B in Jul 2022.
$400M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Twelve did not disclose a valuation in this round. It came 26 months after Twelve's Series B. It is 60% of the $672M Twelve has raised in the venture rounds on record. Twelve raised again 6 months later: a Series C round of $85M in Mar 2025.
Twelve's funding rounds
Twelve has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
TPG led the round.
Lead investor
- TPG backs 114 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
21 Growth rounds in Chemicals within a year either side disclosed an amount; the median was $65M, and this round was 6.2 times the median. The closest in time, other companies' Growth rounds in Chemicals:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Chemicals | 23 Sep 2024 | $9.8M | not disclosed | BGF and Green Generation |
| Chemicals | 4 Sep 2024 | undisclosed | not disclosed | not named |
| EnergyX Chemicals | 4 Oct 2024 | $75M | not disclosed | not named |
| Chemicals | 14 Nov 2024 | $48M | not disclosed | Carbyne Equity Partners |
| Chemicals | 25 Jun 2024 | $69M | not disclosed | Decarbonization Partners |
| Chemicals | 27 Jun 2024 | $65M | not disclosed | Temasek and Main Sequence |
| Chemicals | 21 May 2024 | $163M | not disclosed | Novo Holdings and A.P. Moller Holding |
| Chemicals | 15 Jan 2025 | $56M | not disclosed | Aramco Ventures and SV INVESTMENT |
Sources
Where this comes from
Reported by 7 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Twelve raise in its Growth round?
Twelve raised $400M in its Growth round, announced in Sep 2024.
Who led Twelve's Growth round?
TPG led it.
What was Twelve's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Chemicals?
21 Growth rounds in Chemicals within a year either side disclosed an amount; the median was $65M, and this round was 6.2 times the median.
Did Twelve raise again after this round?
Yes: a Series C round in Mar 2025 of $85M.