Funding round
Verkor Series C
Verkor, which works in lithium-ion battery design and manufacturing in Grenoble, raised $912M in a Series C round announced on 14 Sep 2023, led by Macquarie, at a $2.10B post-money valuation. 11 firms took part. It is Verkor's fourth venture round on record; the one before was a Growth in Nov 2022.
$912M
Amount raised
850,000,000 EUR converted
$2.10B
Post-money valuation
11
Investors
1 lead
43%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Verkor at $2.10B after the new money. The $912M bought investors about 43% of the company. It came 10 months after Verkor's Growth. It is 34% of the $2.70B Verkor has raised in the venture rounds on record. Verkor raised again 8 months later: a Growth round of $1.40B in May 2024.
Verkor's funding rounds
Verkor has 5 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Macquarie led the round with 10 other firms.
Lead investor
- Macquarie backs 52 venture-backed companies new investor
Also in the round
- Meridiam new investor
- Renault Group new investor
- EQT Ventures new investor
- backs 35 venture-backed companies new investor
- Sibanye-Stillwater new investor
- Bpifrance new investor
- Crédit Agricole Assurances new investor
- backs 6 venture-backed companies new investor
- PULSE, the CMA CGM Energy Fund new investor
- backs 12 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion and scaling operations.
- Product development
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
8 Series C rounds in Batteries within a year either side disclosed an amount; the median was $38M, and this round was 24 times the median. The closest in time, other companies' Series C rounds in Batteries:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Batteries | 30 Jul 2023 | undisclosed | not disclosed | not named |
| Batteries | 6 Jun 2023 | $50M | not disclosed | Hanwha Corporate Venture Capital |
| Batteries | 6 Dec 2023 | $12M | not disclosed | Maersk Growth |
| Batteries | 23 Jan 2024 | $95M | $450M | Teachers’ Venture Growth |
| Batteries | 1 Jun 2024 | $21M | $476M | Amara Raja Energy & Mobility |
| Batteries | 31 Jul 2024 | $51M | not disclosed | Fonds de solidarité FTQ |
| Ascend Elements Batteries | 26 Oct 2022 | $300M | not disclosed | Fifth Wall |
| Batteries | 29 Sep 2022 | $25M | not disclosed | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Verkor raise in its Series C round?
Verkor raised $912M in its Series C round, announced in Sep 2023.
Who led Verkor's Series C round?
Macquarie led it, with Meridiam, Renault Group, EQT Ventures, InnoEnergy and Sibanye-Stillwater and 5 more.
What was Verkor's valuation at the Series C round?
$2.10B post-money.
How does it compare with other Series C rounds in Batteries?
8 Series C rounds in Batteries within a year either side disclosed an amount; the median was $38M, and this round was 24 times the median.
Did Verkor raise again after this round?
Yes: a Growth round in May 2024 of $1.40B.