Total amount raised
$390 Millions
Latest funding date
03/01/2025
Location
Our Next Energy has successfully raised significant funding through multiple rounds, attracting the attention of prominent investors such as Crescent Ventures and Trousdale Ventures. The company is focused on developing innovative energy storage solutions to expand access to sustainable power.
Keep reading to explore the intricacies of Our Next Energy's fundraising journey and the investors backing this forward-thinking company.
What Is Our Next Energy?
Our Next Energy (ONE) is a developer of energy storage technology focused on creating safer battery chemistries using sustainable raw materials. Founded in July 2020, the company is based in Novi, Michigan.
ONE's mission is to enhance the range and safety of electric vehicles while providing renewable energy storage solutions. The company designs and manufactures advanced battery systems, including the Aries™ LFP, Aries™ II, Aries™ Grid, and Gemini™ batteries.
Founded by Mujeeb Ijaz, ONE has grown rapidly and now employs between 251-500 people. Their innovative approach aims to build a reliable, low-cost, and conflict-free supply chain for energy storage.
How Much Funding Has Our Next Energy Raised?
- Series A (October 18, 2021)
- Amount Raised: $25M
- Date: October 2021
- Lead Investors: Breakthrough Energy Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and scaling of their energy storage solutions.
- Series A (March 1, 2022)
- Amount Raised: $65M
- Date: March 2022
- Lead Investors: BMW i Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further accelerate the company's growth and product development.
- Series B (February 1, 2023)
- Amount Raised: $300M
- Date: February 2023
- Lead Investors: Fifth Wall, Franklin Templeton
- Valuation at Round: $1.2 billion
- Motivation Behind the Round: To fund the construction and operation of a battery cell factory and to transition from a startup to a growth-stage company.
- Venture Round (March 6, 2025)
- Amount Raised: Not publicly disclosed
- Date: March 2025
- Lead Investors: Crescent Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue expanding their market reach and technological advancements.
Total Amount Raised: $390M
Current Valuation: $1.2 billion
Key Investors
- Crescent Ventures
- Details: Crescent Ventures is a venture capital firm known for investing in innovative technology companies. They have a strong focus on early-stage investments.
- Investment Focus Areas: Technology, healthcare, renewable energy.
- Notable Investments: Not publicly disclosed.
- Fifth Wall
- Details: Fifth Wall is a venture capital firm that focuses on technology for the global real estate industry. They aim to bridge the gap between real estate and technology.
- Investment Focus Areas: Real estate technology, construction technology, sustainability.
- Notable Investments: Opendoor, Blend, VTS.
- BMW i Ventures
- Details: BMW i Ventures is the venture capital arm of BMW Group, investing in cutting-edge technology and sustainable mobility solutions. They support startups that align with BMW's strategic goals.
- Investment Focus Areas: Mobility, sustainability, automotive technology.
- Notable Investments: ChargePoint, Solid Power, Xometry.
- Breakthrough Energy Ventures
- Details: Breakthrough Energy Ventures is a fund backed by prominent investors like Bill Gates, focusing on sustainable energy solutions. They aim to accelerate the transition to a zero-carbon economy.
- Investment Focus Areas: Clean energy, sustainable agriculture, energy storage.
- Notable Investments: QuantumScape, Commonwealth Fusion Systems, Pivot Bio.
- Franklin Templeton
- Details: Franklin Templeton is a global investment management organization known for its mutual funds and other investment products. They have a broad investment portfolio across various sectors.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Various mutual funds and ETFs.
What's Next for Our Next Energy?
Our Next Energy (ONE) is poised for significant growth, driven by ten customer agreements totaling 36 GWh over the next five years. With $300 million in Series B funding and $220 million in state grants, the company is well-positioned to expand its battery cell manufacturing capabilities.
Future fundraising opportunities are likely as ONE transitions from a startup to a growth-stage company, supported by government incentives and a strong market demand for advanced battery technologies. However, challenges such as scaling production, managing supply chain complexities, and navigating a competitive market landscape remain.
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