Funding round
Twelve Series A
Twelve, which works in carbon transformation technology development in Berkeley, raised $57M in a Series A round announced on 8 Jul 2021, led by Capricorn Technology Impact Fund and Carbon Direct Capital. 7 firms took part. It is Twelve's first venture round on record.
$57M
Amount raised
Not disclosed
Post-money valuation
7
Investors
2 leads
Valuation
What this round says about the price
Twelve did not disclose a valuation in this round. It is Twelve's first venture round on record, 6 years after it was founded in 2015. It is 8.5% of the $672M Twelve has raised in the venture rounds on record. Twelve raised again 12 months later: a Series B round of $130M in Jul 2022.
Twelve's funding rounds
Twelve has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Capricorn Technology Impact Fund and Carbon Direct Capital led the round with 5 other firms.
Lead investors
- Capricorn Technology Impact Fund new investor
- backs 12 venture-backed companies new investor
Also in the round
- DCVC backs 171 venture-backed companies new investor
- Munich Re Ventures new investor
- Microsoft Climate Innovation Fund new investor
- Breakout Ventures new investor
- backs 17 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
42 Series A rounds in Chemicals within a year either side disclosed an amount; the median was $11M, and this round was 5.0 times the median. The closest in time, other companies' Series A rounds in Chemicals:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Chemicals | 1 Jul 2021 | $15M | not disclosed | Telos Impact |
| Chemicals | 7 Jul 2021 | $14M | not disclosed | yabeo |
| Chemicals | 1 Jul 2021 | $5.2M | not disclosed | JD Investments |
| Chemicals | 22 Jun 2021 | $22M | not disclosed | Breakthrough Energy |
| FabricNano Chemicals | 30 Jun 2021 | $13M | not disclosed | Atomico |
| Chemicals | 31 Aug 2021 | $5.0M | not disclosed | 3x5 Partners |
| Chemicals | 1 Jun 2021 | $4.9M | not disclosed | not named |
| Chemicals | 9 Jun 2021 | $4.5M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Twelve raise in its Series A round?
Twelve raised $57M in its Series A round, announced in Jul 2021.
Who led Twelve's Series A round?
Capricorn Technology Impact Fund and Carbon Direct Capital led it, with DCVC, Munich Re Ventures, Microsoft Climate Innovation Fund, Breakout Ventures and Evok Innovations.
What was Twelve's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Chemicals?
42 Series A rounds in Chemicals within a year either side disclosed an amount; the median was $11M, and this round was 5.0 times the median.
Did Twelve raise again after this round?
Yes: a Series B round in Jul 2022 of $130M.