Total amount raised
$1.3 Billions
Latest funding date
Location
TAE Technologies has successfully raised significant funding through multiple rounds, with notable investors such as KittyHawk and TIFF Investment Management. The company is dedicated to advancing clean fusion energy and other innovative technologies.
Keep reading to explore the intricacies of TAE Technologies' fundraising journey and the investors backing this pioneering company.
What Is TAE Technologies?
Founded in 1998, TAE Technologies is a pioneering company in the clean energy sector, specifically focusing on fusion power. The company is headquartered in Foothill Ranch, California, and was founded by Glenn Seaborg, Hendrik Monkhorst, and Norman Rostoker.
TAE Technologies employs between 501 and 1000 people and is dedicated to developing sustainable energy solutions. Their mission is to leverage proprietary science and engineering to create a new source of clean energy that produces no harmful byproducts.
How Much Funding Has TAE Technologies Raised?
- Venture Round
- Amount Raised: $127M
- Date: March 2012
- Lead Investors: RUSNANO
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance research and development in nuclear fusion technology.
- Venture Round
- Amount Raised: $82M
- Date: January 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their proprietary fusion technology.
- Venture Round
- Amount Raised: $65M
- Date: May 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing fusion research and development.
- Venture Round
- Amount Raised: $128M
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of their fusion reactor technology.
- Series G
- Amount Raised: $40M
- Date: September 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the next phase of their fusion research.
- Venture Round
- Amount Raised: $153.5M
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue advancements in fusion technology.
- Series G
- Amount Raised: Not publicly disclosed
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing research and development efforts.
- Venture Round
- Amount Raised: $280M
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the construction of their next research reactor.
- Series G
- Amount Raised: $250M
- Date: July 2022
- Lead Investors: Chevron, Google
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To construct the Copernicus research reactor and advance towards commercializing fusion technology.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: December 2023
- Lead Investors: KittyHawk Ventures, TIFF Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue the development of their fusion technology.
Total Amount Raised: $1.2 billion. Current Valuation: Not publicly disclosed.
Key Investors
- Chevron
- Details: Chevron is a multinational energy corporation headquartered in San Ramon, California. It operates in more than 180 countries and is involved in every aspect of the oil, natural gas, and geothermal energy industries.
- Investment Focus Areas: Energy innovation, renewable energy, oil and gas.
- Notable Investments: Chevron Technology Ventures, renewable energy projects, oil and gas exploration.
- Google
- Details: Google is a global technology company specializing in Internet-related services and products. It is a subsidiary of Alphabet Inc. and is known for its search engine, online advertising technologies, and cloud computing.
- Investment Focus Areas: Artificial intelligence, machine learning, cloud computing.
- Notable Investments: DeepMind, Waymo, Google Cloud.
- Venrock
- Details: Venrock is a venture capital firm originally established as the venture capital arm of the Rockefeller family. It focuses on early-stage and growth-stage investments in technology and healthcare.
- Investment Focus Areas: Technology, healthcare, energy.
- Notable Investments: Apple, Intel, Gilead Sciences.
- Charles Schwab
- Details: Charles Schwab is a major brokerage and banking company based in San Francisco, California. It offers a full range of financial services, including investment management, retirement planning, and banking.
- Investment Focus Areas: Financial services, investment management, banking.
- Notable Investments: Schwab Intelligent Portfolios, Schwab Bank, Schwab Advisor Services.
- Kuwait Investment Authority
- Details: The Kuwait Investment Authority (KIA) is the sovereign wealth fund of Kuwait. It is one of the oldest and largest sovereign wealth funds in the world, managing the country's oil revenues.
- Investment Focus Areas: Diversified investments, energy, technology.
- Notable Investments: Global real estate, infrastructure projects, technology startups.
What's Next for TAE Technologies?
TAE Technologies stands on the brink of a transformative era, with the potential to revolutionize the energy sector through its pioneering work in nuclear fusion. The construction of the Copernicus research reactor marks a significant step towards commercializing fusion technology, promising a future of clean, sustainable energy. This opportunity is vast, given the global push for renewable energy sources and the company's impressive $1.2 billion in funding to date.
Future fundraising efforts are likely to attract continued interest from major investors and corporations, driven by the increasing global focus on reducing carbon emissions. However, TAE Technologies will face challenges such as achieving and maintaining the extreme temperatures required for fusion and scaling the technology for commercial use. Despite these hurdles, the company's strategic partnerships and technological advancements position it well for future growth and success.
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