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Exowatt raised $20M in seed funding led by a16z, Atomic, and Sam Altman to expand its team and deploy the Exowatt P3 with its first set of data center customers.

PRIVATEApr 22, 2024•about 2 years ago

Amount Raised

$20 Million

Round Type

seed

MiamiEnergyRenewable EnergyBiomass Energy

Investors

Sam AltmanAtomicA16z

Description

Exowatt, co-founded by Jack Abraham and Hannan Parvizian, raised $20m in seed funding to expand its team and deploy the Exowatt P3 with its first set of data center customers.

Company Information

Company

Exowatt

Location

Miami, Florida, United States

About

Exowatt is a next generation renewable energy company offering commercial and industrial customers a modular full-stack energy solution that can provide dispatchable power and heat for up to 24 hours per day, specifically designed to meet the needs of energy-intensive applications such as data centers. Our mission is clear, to make sustainable renewable energy always available and almost free.

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Strategic

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Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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