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Found Energy raise $12M Seed Round led by Glenfield Partners to extract energy from aluminium waste

Apr 18, 2024•over 1 year ago

Amount Raised

$12 Million

Round Type

seed

BostonBiomass EnergyRenewable EnergyOil And GasEnergy

Investors

Massachusetts Clean Energy Center (Mass Cec)Gi TvJ ImpactAutodesk FoundationGood Growth CapitalMunich Re VenturesKompas VcGlenfield Partners

Description

Cleantech Found Energy have raised a $12M Seed Round led by Glenfield Partners. The round included investments from across Europe, the US, and Asia, with participation from KOMPAS VC, Munich Re Ventures, Good Growth Capital, the Autodesk Foundation, J-Impact, GiTV, and Massachusetts Clean Energy Center (MassCEC).

Company Information

Company

Found Energy Co

Location

Boston, Massachusetts, United States

About

Found Energy is a cleantech company that specializes in extracting carbon-free energy from aluminium waste. Their technology produces an aluminum hydroxide byproduct that can fuel alumina refineries, offering an alternative to energy generated by depleting fossil fuel reserves.

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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