BETA Capitalization Report v210603 Manufacturing VC deals

KEYWORDS: Beta Technologies, 24M, Furiosa, Yoto, Nourished, Viken Detection, Battery Technology, electric vehicle, grid storage, manufacturing

DEALS OTHER HIGHLIGHTED

Below is detail on 24M deal, but here are a few other deals highlighted.

Beta Technologies:

The company raised $425.62 million of Series A venture funding in a deal led by Fidelity Management & Research on May 24, 2021, putting the company’s pre-money valuation at $1.03 billion. Amazon.com also participated in the round. The funding will be used to refine the company’s electric aircraft’s propulsion system and controls, as well as to build out manufacturing space, including expanding its footprint in Vermont on land at the Burlington International Airport.

Furiosa:

The company raised KRW 80 billion of Series B venture funding from Naver, DSC Investment and Aion Asset Management on May 31, 2021, putting the company’s pre-money valuation at KRW 180 billion.

Yoto:

The company raised GBP 12.02 million of Series A venture funding in a deal led by Acton Capital on May 11, 2021, putting the company’s pre-money valuation at GBP 44.51 million. Emerge Education(VC), Global Founders Capital, JamJar Investments, Caddie Venture, MPL Ventures and Sir Hossein Yassaie also participated in the round.

Nourished: 

The company raised GBP 8 million of Series A venture funding in a deal led by ADM Ventures and Cibus Fund on May 10, 2021, putting the company’s pre-money valuation at GBP 42.9 million. Henkel Tech Ventures, RiverPark Ventures and Apater Capital also participated in the round. The funds will be used to develop the portfolio further, adding lines for kids and personalized protein bars to the range this year along with production expansion to the US.

Viken Detection:

The company raised $6.44 million of Series D venture funding from undisclosed investors on May 24, 2021, putting the company’s pre-money valuation at $50 million.

DEAL PROFILED (M24)

M24, announced on May 17 it has raised a $56.8 million Series E to commercialize its simple, capital-efficient, low-cost SemiSolid™ manufacturing process and expand its technology development programs for grid storage and electric vehicle applications.

The financing was led by global trading company ITOCHU Corporation and as a part of the financing, Hiroaki Murase, General Manager of the Sustainable Energy Business Department, of ITOCHU will join 24M’s Board of Directors. Also participating in the round were new investors Fujifilm Corporation and Mirai Creation Fund II along with previous investors, including Kyocera Corporation, Global Power Synergy Public Company Ltd (GPSC) and North Bridge Venture Partners.

24M’s innovative SemiSolid™ manufacturing platform delivers market-leading price-performance. SemiSolid™ electrodes use no binder, mixing electrolyte with active materials to form a clay-like slurry with unique attributes. As a result, the 24M process eliminates the need for a significant amount of inactive materials and capital-intensive processes like drying and electrolyte filling, thus dramatically reducing manufacturing cost.

About 24M:

24M answers the world’s need for affordable energy storage by enabling a new, more cost-effective solution — SemiSolid™ lithium-ion technology. By re-inventing the design of the battery cell as well as the manufacturing method, 24M solves the critical, decades-old challenge associated with the world’s preferred energy storage chemistry: reducing its high cost while improving its safety, reliability and performance. Founded and led by some of the battery industry’s foremost inventors, scientists and entrepreneurs, 24M is headquartered in Cambridge, Mass.

About CFO:

Mr. Richard Chleboski serves as Chief Financial Officer at 24M. He serves as Chief Financial Officer at TeraDiode. He also serves as the President at RIAJ Enterprises. He was the Chief Executive Officer and a Board member at Bandgap Engineering. He co-founded Evergreen Solar in 1994. In December 2007, he assumed the position of Vice President of Strategy and Business Development. Prior to that, he served as Vice President of Worldwide Expansion since February 2006. He also served as the Company’s Chief Financial Officer and Treasurer for 12 years. He also served as a Director from June 1995 to May 2003. He worked at Mobil Solar Energy Corporation for seven years where he was the Strategic Planner focusing on developing long-range business plans working with strategic partners. Prior to becoming Strategic Planner, he was a Process Engineer responsible for innovating the operation of Mobil Solar’s manufacturing line as the expert on its performance. He received a B.S. in Electrical Engineering from the Massachusetts Institute of Technology and an M.B.A. from Boston College.

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Other recent deals: 

CompaniesLast Financing Size
BETA Technologies425.62
Furiosa71.19
24M56.80
Yoto16.69
Nourished11.09
Viken Detection6.44
Universal Hydrogen23.47
MacroFab15.00
Proud Source Water6.50
Orbital Marine Power4.20
Agnikul11.00
Celestial E-mobility0.50
Originbio14.90
Garçon Wines1.21
Jelly Drops1.48
MetisMotion1.81
Pretred3.00
Mad Rabbit Tattoo0.50
Aeropowder0.67
Top-e
Five Dot Botanics0.12
Dryfing
2Pai Semi15.36
4Gene
7or9
AcKaM
Act+Acre7.00
AgXeed
Alba Orbital3.40
ALung1.81
Artery Technology
Atelier Unes0.48
Atonarp50.00
Bast Fibre Technologies6.93
BH2 Innovations0.28
Boston Materials12.61
Botree Tech
BreezeBubble
Bungee0.30
C4V5.00
ChopValue3.15
Chowsing61.95
Chunmi16.91
Corumat0.13
Cue Health235.00
Daxin Semiconductor
Deer Technology1.48
Diamond Works Technology
Dyman0.80
Ecocem27.00
Einride110.00
Electric Era3.70
Esco Lifesciences200.00
Explorer Cold Brew1.52
Fabheads1.08
Faculty World3.00
FindOut Diagnostic0.89
FlyWire (Electronics (B2C))1.21
growPack1.00
Heywear1.14
HPY Sorting18.51
Huge Play0.22
IntoCare Medical Technology15.49
Jenscare Biotechnology
Jidoka Technologies0.34
JoyHome
JSAB Technologies
Just Medical
KevinLAB
Kings 3D Printing15.36
Kombo King
LDEBIO
Liquid Death15.00
Lone Star Industrial Materials4.33
LuxCreo
Maelys (Middle East)30.00
Magenta Power15.00
Manos Medica0.50
Metamaterial Information
Mikoptik
Myst Labs
Norpoo Electronics
Nowyon
Pangea Aerospace3.63
Protect3d0.40
Proxinse
Quantum-Systems
Quixote Automotive Technologies0.07
Raise3D
Saxeal
Sensitive Home1.33
SOS Hydration1.73
SPI.Systems0.05
Star Charge
Strahlkraft Medical Technology
Strong by Form0.07
Sunnnada
Tea Drops5.00
Tianzhu Ruichang9.30
TigerBuilder
Tongee8.47
Universal Energy Corp (Schertz)0.23
Uptech Sensing0.92
Vantem Global1.50
Voltz Motors18.73
White Leaf Provisions0.31
WISONIC23.03
Youibot Robotics15.36
Zhongke Jiuyuan
Zoomo12.00

PUBLISHER / EDITOR: JD Morris

WRITER: Will E

RESEARCH: Jack D, Charlotte E, and Sarah M.

batteries lot
Photo by mohamed abdelghaffar on Pexels.com

Author: JDM

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