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Total amount raised
$78M
Latest funding date
2025-09-18
Location
WeaveGrid has successfully raised funds through eight different rounds, attracting investments from notable companies such as Hyundai Motor Company and Woven by Toyota. The company focuses on developing electrification software to facilitate the scalable deployment of electric vehicles on the electric grid.
Keep reading to explore the intricacies of WeaveGrid's fundraising journey and the investors backing this innovative platform.
WeaveGrid has raised at least $78M in disclosed funding across multiple rounds, backed by investors including Salesforce Ventures, Woven Capital (Toyota's growth fund), Coatue, Breakthrough Energy Ventures, LG Technology Ventures, Hyundai Motor Company, Kia Corporation, Activate Capital, and others.
Keep reading to explore WeaveGrid's fundraising journey, from its early Series A to its most recent strategic investment.
What Is WeaveGrid?
WeaveGrid is a San Francisco-based software company founded in 2018 that enables rapid electric vehicle (EV) adoption on the electric grid. Its EV Management System (EVMS) empowers utilities to manage rapid load growth reliably and affordably through world-class software, machine learning, and data technology. WeaveGrid works with utilities, automakers, EV charging suppliers, and EV owners to intelligently deploy grid-interactive vehicles and create enhanced charging experiences for drivers. The company's platform supports utilities serving more than 40% of EVs in the United States and has over a dozen official integrations with automotive brands and EV charging suppliers. WeaveGrid was co-founded by Apoorv Bhargava (CEO) and John Taggart (President).
How Much Funding Has WeaveGrid Raised?
- Series A
- Amount Raised: USD 15,000,000
- Date: May 20, 2021
- Lead Investor: Coatue
- Participants: Breakthrough Energy Ventures, The Westly Group, Grok Ventures, Ramez Naam (angel), Josh Felser (angel)
- Series B
- Amount Raised: USD 35,000,000
- Date: November 15, 2022
- Lead Investor: Salesforce Ventures (via Salesforce Ventures Impact Fund)
- Participants: Activate Capital, Collaborative Fund, Emerson Collective, MCJ Collective (new); Breakthrough Energy Ventures, Coatue, Grok Ventures, The Westly Group (existing)
- Strategic Investment (led by Woven Capital)
- Amount Raised: USD 28,000,000
- Date: December 10, 2024
- Lead Investor: Woven Capital (Toyota's growth fund)
- Participants: Activate Capital, Collab Fund, Emerson Collective, Salesforce Ventures; HSBC Innovation Banking (debt)
- Strategic Investment (Hyundai Motor Company & Kia)
- Amount Raised: Undisclosed
- Date: January 29, 2025
- Lead Investors: Hyundai Motor Company, Kia Corporation
- Strategic Investment (LG Technology Ventures)
- Amount Raised: Undisclosed
- Date: September 18, 2025
- Lead Investor: LG Technology Ventures
Total Amount Raised: At least $78M based on disclosed funding (additional undisclosed amounts from January 2025 and September 2025 strategic investments).
Key Investors
- Salesforce Ventures
- Details: Salesforce Ventures is the corporate investment arm of Salesforce, helping enterprising founders build companies that reinvent how the world works. Its Impact Fund, launched in 2017, accelerates the growth of enterprise software companies addressing pressing societal needs. Since 2009, Salesforce Ventures has invested in over 400 enterprise software companies from seed to IPO. Salesforce Ventures led WeaveGrid's Series B in November 2022 and has participated in subsequent rounds.
- Woven Capital
- Details: Woven Capital is Toyota's $800M+ growth fund focused on mobility, AI, and climate-resilient value chains. It invests in electrification, EV charging, sustainable energy, and advanced vehicle technology. Woven Capital led WeaveGrid's $28M strategic investment round in December 2024, underscoring Toyota's commitment to battery and plug-in hybrid EV customer experience.
- Coatue
- Details: Coatue is one of the world's largest technology investment platforms with more than $35 billion in assets under management. The firm backs entrepreneurs globally at every stage — venture, growth, and public funds — and has invested in companies such as Airbnb, ByteDance, Databricks, DoorDash, Snowflake, and Spotify. Coatue led WeaveGrid's $15M Series A in May 2021, with Jaimin Rangwalla joining WeaveGrid's Board of Directors.
- Breakthrough Energy Ventures
- Details: Breakthrough Energy Ventures is backed by many of the world's top business leaders and invests in companies targeting net-zero emissions across agriculture, buildings, electricity, manufacturing, and transportation. With more than $2 billion in committed capital, BEV links government-funded research with patient, risk-tolerant capital. BEV has participated in both WeaveGrid's Series A and Series B rounds.
- LG Technology Ventures
- Details: LG Technology Ventures is the venture capital investment arm of LG Group, established in 2018 and headquartered in Silicon Valley. The firm partners with early- and growth-stage companies across AI, biotech, cleantech, and mobility sectors, managing over $800 million in fund assets. Its strategic investment in WeaveGrid in September 2025 brings critical energy storage expertise to WeaveGrid's ecosystem.
- Hyundai Motor Company & Kia Corporation
- Details: Hyundai Motor Company and Kia Corporation are global automotive manufacturers that made a joint strategic investment in WeaveGrid in January 2025. Their investment reflects the automakers' commitment to EV-grid integration and collaboration with software platforms that enable scalable electric vehicle deployment.
- Activate Capital
- Details: Activate Capital is a leading venture capital firm partnering with companies building smart, sustainable systems across energy, mobility, and industrial technology markets. With a vision to build platforms for a resilient, sustainable future, Activate Capital has participated in both WeaveGrid's Series B and the December 2024 strategic investment round.
What's Next for WeaveGrid?
WeaveGrid is well-positioned to capitalize on the rapid growth of electric vehicles and the increasing complexity of managing EV loads on the electric grid. With backing from major automotive players including Toyota (via Woven Capital), Hyundai, Kia, and LG Technology Ventures, WeaveGrid is strengthening its position as the comprehensive platform for automotive and energy sector collaboration. The company is expected to continue expanding its utility partnerships, deepening automaker integrations, and developing next-generation grid-interactive vehicle capabilities including vehicle-to-grid (V2G) technology.
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