Funding round
Verkor Growth
Reported as "Growth Equity"
Verkor, which works in lithium-ion battery design and manufacturing in Grenoble, raised $250M in a Growth round announced on 7 Nov 2022. 9 firms took part. It is Verkor's third venture round on record; the one before was a Series B in Mar 2022.
$250M
Amount raised
250,000,000 EUR converted
Not disclosed
Post-money valuation
9
Investors
no lead named
Valuation
What this round says about the price
Verkor did not disclose a valuation in this round. It came 8 months after Verkor's Series B. It is 9.2% of the $2.70B Verkor has raised in the venture rounds on record. Verkor raised again 10 months later: a Series C round of $912M in Sep 2023, at $2.10B post-money.
Verkor's funding rounds
Verkor has 5 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
9 firms took part; no lead investor was named.
Investors
- IDEC Groupe new investor
- Sibanye Stillwater new investor
- Bpifrance new investor
- backs 44 venture-backed companies new investor
- Demeter new investor
- Plastic Omnium new investor
- Societe Generale new investor
- Siemens new investor
- European Investment Bank backs 40 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
17 Growth rounds in Batteries within a year either side disclosed an amount; the median was $75M, and this round was 3.3 times the median. The closest in time, other companies' Growth rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 1 Dec 2022 | $75M | not disclosed | Siemens Financial Services |
| Ascend Elements Batteries | 1 Sep 2022 | $50M | not disclosed | SK ecoplant |
| Batteries | 7 Sep 2022 | $30M | not disclosed | Equinor |
| Lunar Energy Batteries | 24 Aug 2022 | $300M | not disclosed | Sunrun and SK Group |
| Batteries | 3 Aug 2022 | $90M | not disclosed | not named |
| Batteries | 14 Jul 2022 | $135M | not disclosed | GIC |
| Batteries | 20 Jul 2022 | $46M | not disclosed | CVC DIF |
| Batteries | 14 Jul 2022 | $7.0M | not disclosed | not named |
Questions
Frequently asked
How much did Verkor raise in its Growth round?
Verkor raised $250M in its Growth round, announced in Nov 2022.
Which investors took part in Verkor's Growth round?
IDEC Groupe, Sibanye Stillwater, Bpifrance, SE Ventures, Demeter and Plastic Omnium and 3 more.
What was Verkor's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Batteries?
17 Growth rounds in Batteries within a year either side disclosed an amount; the median was $75M, and this round was 3.3 times the median.
Did Verkor raise again after this round?
Yes: a Series C round in Sep 2023 of $912M at $2.10B post-money.