Total amount raised
$600.1 Million
Latest funding date
2/1/2022
Location
SES has successfully raised funding over nine rounds, with the latest being a Post-IPO Equity round. The company is backed by 28 investors, including notable names like Honda Motor and SAIC Motor.
SES is making strides in the field of AI-powered lithium-metal batteries, which are used in electric vehicles, drones, and energy storage. Keep reading to explore the intricacies of SES's fundraising journey and the investors backing this innovative platform.
What Is SES?
SES, headquartered in Woburn, Massachusetts, is a pioneering company in the field of AI-powered lithium-metal batteries. The company operates within industries such as Battery, Electric Vehicle, Energy Storage, Manufacturing, and Renewable Energy.
With a workforce of 101-250 employees, SES is dedicated to accelerating the world's energy transition through advanced material discovery and battery management. Their innovative batteries are utilized in electric vehicles, drones, and energy storage solutions.
How Much Funding Has SES Raised?
- Round Name: Grant
- Amount Raised: USD 40,000
- Date: September 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart initial research and development efforts.
- Round Name: Series A
- Amount Raised: USD 4,500,000
- Date: September 2013
- Lead Investors: Vertex Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand research and development capabilities.
- Round Name: Series B
- Amount Raised: USD 6,699,997
- Date: July 2015
- Lead Investors: General Motors Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up production and enhance battery technology.
- Round Name: Series B
- Amount Raised: USD 12,000,000
- Date: January 2016
- Lead Investors: General Motors Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and commercialize battery technology.
- Round Name: Series C
- Amount Raised: USD 34,000,000
- Date: December 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and production capabilities.
- Round Name: Series C
- Amount Raised: USD 28,875,000
- Date: November 2018
- Lead Investors: SK
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance battery performance and safety features.
- Round Name: Series D
- Amount Raised: USD 139,000,000
- Date: April 2021
- Lead Investors: General Motors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate commercialization and production scale-up.
- Round Name: Corporate Round
- Amount Raised: USD 100,000,000
- Date: July 2021
- Lead Investors: Hyundai Motor Company
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop safer, faster-charging, and longer-lasting batteries.
- Round Name: Post-IPO Equity
- Amount Raised: USD 275,000,000
- Date: February 2022
- Lead Investors: Honda Motor
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand market reach.
Total Amount Raised: USD 600,114,997. Current Valuation: Not publicly disclosed.
Key Investors
- Honda Motor
- Details: Honda Motor is a leading global manufacturer of automobiles, motorcycles, and power equipment. They are known for their innovation in automotive technology and commitment to sustainability.
- Investment Focus Areas: Automotive, Robotics, Renewable Energy
- Notable Investments: Cruise, Grab, SES
- Hyundai Motor Company
- Details: Hyundai Motor Company is a South Korean multinational automotive manufacturer. They are recognized for their advancements in electric vehicles and hydrogen fuel cell technology.
- Investment Focus Areas: Automotive, Electric Vehicles, Hydrogen Technology
- Notable Investments: Rimac Automobili, Arrival, SES
- General Motors
- Details: General Motors is an American multinational corporation that designs, manufactures, and sells vehicles and vehicle parts. They are heavily invested in electric vehicle technology and autonomous driving.
- Investment Focus Areas: Automotive, Electric Vehicles, Autonomous Driving
- Notable Investments: Cruise, Rivian, SES
- SK
- Details: SK Group is a South Korean conglomerate with diverse business interests, including energy, telecommunications, and semiconductors. They are a major player in the global energy market.
- Investment Focus Areas: Energy, Telecommunications, Semiconductors
- Notable Investments: Plug Power, TerraPower, SES
- Vertex Ventures
- Details: Vertex Ventures is a global network of venture capital funds. They focus on early-stage investments in technology and healthcare sectors.
- Investment Focus Areas: Technology, Healthcare, Fintech
- Notable Investments: Grab, PatSnap, SES
What's Next for SES?
SES stands at the cusp of a transformative era in battery technology, bolstered by a $100 million investment from Hyundai Motor Co. This significant backing, coupled with a strategic partnership with GM, positions SES to lead the charge in developing safer, faster-charging, and longer-lasting batteries. The growing demand for advanced battery solutions in the automotive industry presents a substantial market opportunity for SES.
Future fundraising prospects look promising, with the trend of battery-tech companies going public via SPACs. This could provide SES with additional capital to scale production and enhance their technology. However, the path forward is not without challenges. SES will need to navigate intense competition from other industry players like Northvolt and Solid Power, and continuously innovate to stay ahead in the market.
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