🏆 Deal of the Year · 2023
Verkor raised €2,000,000,000 in a Series C round in September 2023; the valuation was not disclosed. The round was backed by investors including Kheng Nam Lee and Taavet Hinrikus. The capital is earmarked for the construction of Verkor's first Gigafactory in Dunkirk, France.
Verkor — key deal facts
| Company | Verkor |
| Founded | 2020 |
| Headquarters | Grenoble, France |
| Amount raised | 2000000000 |
| Valuation | Valuation Remains Undisclosed |
| Round | Series C |
| Investors | Kheng Nam Lee, Taavet Hinrikus |
| Sectors | Battery |
Who invested in Verkor?
The Series C attracted Kheng Nam Lee and Taavet Hinrikus, among others. The participation of Taavet Hinrikus — co-founder of Wise — is notable as it reflects growing interest from technology-oriented capital in European battery infrastructure. The investor mix signals confidence in Verkor's low-carbon manufacturing thesis ahead of the Dunkirk facility's expected ramp.
What does Verkor do?
Verkor is a French battery manufacturer founded in 2020 and headquartered in Grenoble, France. The company produces low-carbon battery cells for electric vehicles and stationary energy storage, targeting the European market. Its products are delivered as modules for integration into battery packs for passenger, commercial, and off-highway vehicles. Verkor operates an Innovation Centre in Grenoble and is constructing a Gigafactory in Dunkirk with an initial planned capacity of 16 GWh per year, expected to come online in 2025.
Verkor valuation & multiples
No existing multiples analysis was provided for this deal. Once comparable transaction data becomes available, EV/Sales and EV/EBITDA benchmarks for the Battery sector will be applied to contextualise Verkor's implied pricing. Explore current valuation multiples for Battery and clean-energy storage companies on the Venionaire DealMatrix sector multiples pages.
Explore the benchmarks: Series C.
Frequently asked questions
How much did Verkor raise in its Series C?
Verkor raised €2,000,000,000 in its Series C round, announced in September 2023.
What is Verkor's valuation?
Verkor's valuation was not disclosed in connection with this Series C round.
Who invested in Verkor?
The Series C investors include Kheng Nam Lee and Taavet Hinrikus.
When was Verkor founded and where is it based?
Verkor was founded in 2020 and is headquartered in Grenoble, France.
Source: original announcement — read the full report.