Total amount raised
$61.2 Millions
Latest funding date
Location
Lightship has successfully raised funds through multiple rounds, with the latest being a Series B round closed on January 17, 2024. The company is backed by 15 investors, including notable names like HyperGuap and Obvious Ventures.
Lightship's innovative approach to creating zero-emission travel trailers has garnered significant investor interest. Keep reading to explore the intricacies of Lightship's fundraising journey and the investors backing this forward-thinking company.
What Is Lightship?
Lightship, founded in May 2020 by Benjamin Parker and Toby Kraus, is an all-electric RV manufacturer based in San Francisco, California. The company specializes in designing and producing aerodynamic, battery-powered trailers aimed at revolutionizing the $26 billion RV industry.
With a team of 101-250 employees, Lightship focuses on creating zero-emission travel trailers that reduce noise, emissions, and range anxiety. Their flagship product, the AE.1™ Cosmos Edition, offers the highest range and solar capacity among travel trailers, promoting sustainable travel solutions.
How Much Funding Has Lightship Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial foundation and operations of the company.
- Seed Round
- Amount Raised: $4.1M
- Date: July 2021
- Lead Investors: Obvious Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the prototype of their flagship product, the AE.1™ Cosmos Edition.
- Series A
- Amount Raised: $23.1M
- Date: July 2022
- Lead Investors: Prelude Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up production capabilities and expand the team.
- Series B
- Amount Raised: $34M
- Date: January 2024
- Lead Investors: Obvious Ventures, Prelude Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the production of the L1 electric trailer and establish manufacturing infrastructure.
Total Amount Raised: $61.2M
Current Valuation: Not publicly disclosed
Key Investors
- Obvious Ventures
- Details: Obvious Ventures is a venture capital firm that co-led Lightship's Series B funding round. The firm focuses on investing in companies that aim to create a positive impact on the world.
- Investment Focus Areas: Sustainable energy, health and wellness, advanced technology.
- Notable Investments: Beyond Meat, Diamond Foundry, Proterra.
- Prelude Ventures
- Details: Prelude Ventures is a venture capital firm that also co-led Lightship's Series B funding round. The firm invests in companies that address climate change and sustainability.
- Investment Focus Areas: Renewable energy, sustainable agriculture, advanced materials.
- Notable Investments: QuantumScape, Planet, Zymergen.
- Allegis Capital
- Details: Allegis Capital is a venture capital firm that participated in Lightship's Series B funding round. The firm focuses on early-stage investments in cybersecurity and enterprise software.
- Investment Focus Areas: Cybersecurity, enterprise software, digital health.
- Notable Investments: Shape Security, IronNet Cybersecurity, Bracket Computing.
- THOR Industries
- Details: THOR Industries is a leading manufacturer of recreational vehicles and participated in Lightship's Series B funding round. The company aims to support innovative solutions in the RV industry.
- Investment Focus Areas: Recreational vehicles, outdoor lifestyle, travel technology.
- Notable Investments: Airstream, Jayco, Heartland RV.
- TechNexus Venture Collaborative
- Details: TechNexus Venture Collaborative is a venture capital firm that participated in Lightship's Series B funding round. The firm collaborates with corporations to invest in innovative startups.
- Investment Focus Areas: Enterprise software, industrial technology, media and entertainment.
- Notable Investments: Uptake, Catalytic, FourKites.
What's Next for Lightship?
Lightship is poised to seize a significant opportunity in the electric RV market with the accelerated production of its L1 electric trailer. The $34 million Series B funding will enable the company to establish a robust manufacturing infrastructure in Colorado, creating numerous high-tech jobs and meeting the growing demand for sustainable travel solutions.
As Lightship scales its production, future fundraising opportunities are likely to arise. The company may attract additional investments to support further expansion and innovation, potentially forming strategic partnerships with industry leaders. However, challenges such as maintaining production quality, establishing a reliable supply chain, and competing with established manufacturers will need to be navigated carefully.
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