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Kore Power Announces ~$75M First Close Of $150M Investment Round With Siemens As Lead Investor And Joined By Quanta Services

PRIVATENov 30, 2022

Amount Raised

$75 Million

Round Type

Venture

Coeur D'aleneEnergyMobileRenewable EnergySolar

Investors

Trog Hawley CapitalHoneywell Ventures

Description

KORE Power, Inc. (“KORE”) has closed the initial $75 million tranche of a private placement (the “Financing”) anticipated to total $150 million. Siemens Financial Services was the lead investor and was joined by Quanta Services with additional strategic partners including Nidec Motor Corporation, Honeywell Ventures, Trog Hawley Capital and a leading utility scale energy storage provider. Goldman Sachs & Co

Who else raised in Energy and Mobile around the same time

Companies in the same sectors as KORE Power that raised within 45 days of this round, from Fundz verified event records.

  • Samara raised $4.8M (Seed) on December 26, 2022.
  • Ascent Solar Technologies raised $50M on December 20, 2022.
  • Ascent Solar Technologies raised $2.5M (Seed) on December 19, 2022.
  • PowerFlex raised $100M on December 13, 2022.
  • Cleanlight raised $3M (Seed) on November 29, 2022.
  • Longroad Energy raised an undisclosed amount (Funding Round) on November 15, 2022.

Who to call at KORE Power, and when

A new round usually means KORE Power is about to hire and buy. The teams that reach out first get the meeting.

  • An alert the day KORE Power raises, hires an executive or expands, scored against what you sell
  • The decision-makers there, with verified emails
  • Who you already know at KORE Power, from your own LinkedIn network

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Company Information

Company

KORE Power

Location

1875 N. LAKEWOOD DRIVE

Coeur D'alene, Idaho, United States

About

KORE is a leading U.S.-based developer of battery cell technology and integrated solution manufacturer for the energy storage and e-mobility sectors. With clients in energy storage, e-mobility, utility, industrial and defense markets, KORE provides battery products and solutions which are the backbone for decarbonization across the globe. As a U.S.-based, integrated provider of cells, batteries and solutions, KORE is uniquely positioned to serve these markets. Groundbreaking for the construction of the KOREPlex is scheduled for the fourth quarter of 2022 with commercial production scheduled for the fourth quarter of 2024. The KOREPlex will have initial annual production capacity of 6 GWh of battery cells, which will be expanded to 12 GWh to meet expected market demand. KORE is headquartered in Coeur d’Alene, Idaho, with operations in Waterbury, Vermont, and Buckeye, Arizona. For more information, visit www.korepower.com.

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KORE Power raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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