Funding round
VoltaGrid Growth
Reported as "Growth Equity"
VoltaGrid, which works in energy generation and management services in Houston, raised $73M in a Growth round announced on 3 Feb 2021, led by Canada Pension Plan Investment Board. 5 firms took part. It is VoltaGrid's first venture round on record.
$73M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
VoltaGrid did not disclose a valuation in this round. It is VoltaGrid's first venture round on record, 1 year after it was founded in 2020. It is 3.4% of the $2.16B VoltaGrid has raised in the venture rounds on record. VoltaGrid raised again 10 months later: a Growth round of $100M in Dec 2021.
VoltaGrid's funding rounds
VoltaGrid has 5 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Canada Pension Plan Investment Board led the round with 4 other firms.
Lead investor
- Canada Pension Plan Investment Board new investor
Also in the round
- new investor
- backs 6 venture-backed companies new investor
- Walter Ventures new investor
- backs 5 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion and scaling operations.
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
The closest in time: 2 in Electric Supplies & Power Generation, then Growth rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Turntide Electric Supplies & Power Generation | 3 Mar 2021 | $80M | not disclosed | Breakthrough Energy |
| Turntide Electric Supplies & Power Generation | 24 Sep 2020 | $33M | not disclosed | not named |
| Malaysia Aviation Group Airline Companies | 22 Feb 2021 | $890M | not disclosed | Khazanah Nasional |
| Tech Companies | 10 Feb 2021 | $400M | not disclosed | Clearlake Capital Group and Siris Capital Group |
| Online Marketplace | 19 Feb 2021 | $276M | not disclosed | PS Alliance |
| Online Marketplace | 24 Feb 2021 | $191M | $840M | Korelya Capital |
| Tech Companies | 17 Feb 2021 | $150M | $9.50B | Abdiel Capital Advisors and Tiger Global |
| Bicycle Shops, Parts & Accessories | 4 Feb 2021 | $150M | not disclosed | not named |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did VoltaGrid raise in its Growth round?
VoltaGrid raised $73M in its Growth round, announced in Feb 2021.
Who led VoltaGrid's Growth round?
Canada Pension Plan Investment Board led it, with Carnelian Energy Capital, Pilot Growth Equity, Walter Ventures and Longbow Capital.
What was VoltaGrid's valuation at the Growth round?
It was not disclosed.
Did VoltaGrid raise again after this round?
Yes: a Growth round in Dec 2021 of $100M.