Funding round
Verkor Series A
Verkor, which works in lithium-ion battery design and manufacturing in Grenoble, raised $119M in a Series A round announced on 1 Jul 2021, led by EQT Ventures and Renault Group. 2 firms took part. It is Verkor's first venture round on record.
$119M
Amount raised
100,000,000 EUR converted
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
Verkor did not disclose a valuation in this round. It is Verkor's first venture round on record, 1 year after it was founded in 2020. It is 4.4% of the $2.70B Verkor has raised in the venture rounds on record. Verkor raised again 8 months later: a Series B round of $22M in Mar 2022. Its next priced round, a Series C in Sep 2023, valued it at $2.10B.
Verkor's funding rounds
Verkor has 5 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
EQT Ventures and Renault Group led the round.
Lead investors
- EQT Ventures new investor
- Renault Group new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and scaling operations.
- Product development
- Scaling operations
Comparable rounds
How it compares
29 Series A rounds in Batteries within a year either side disclosed an amount; the median was $13M, and this round was 9.1 times the median. The closest in time, other companies' Series A rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 1 Aug 2021 | $7.0M | not disclosed | Energy Innovation Capital |
| EnerVenue Batteries | 15 Sep 2021 | $100M | not disclosed | Schlumberger New Energy |
| Batteries | 19 May 2021 | $10M | not disclosed | Energy Impact Partners |
| Batteries | 15 Nov 2021 | $20M | not disclosed | not named |
| Batteries | 26 Nov 2021 | $16M | not disclosed | Fine Structure Ventures |
| Batteries | 8 Nov 2021 | $13M | not disclosed | Copec Wind Venture |
| Batteries | 30 Nov 2021 | $11M | not disclosed | 360 Capital |
| SVOLT Energy Technology Batteries | 1 Feb 2021 | $540M | not disclosed | Bank of China Group Investment and SDIC (State Development & Investment Corporation) |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Verkor raise in its Series A round?
Verkor raised $119M in its Series A round, announced in Jul 2021.
Who led Verkor's Series A round?
EQT Ventures and Renault Group led it.
What was Verkor's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Batteries?
29 Series A rounds in Batteries within a year either side disclosed an amount; the median was $13M, and this round was 9.1 times the median.
Did Verkor raise again after this round?
Yes: a Series B round in Mar 2022 of $22M.