🏆 Deal of the Week · CW 37/2023
Verkor raised EUR 2 billion in a Series C round announced in September 2023; the company's valuation was not disclosed. The round drew backing from a broad consortium of eight investors spanning energy transition, climate technology, and impact-focused funds. The capital is earmarked to finance Verkor's first large-scale gigafactory in Dunkirk, northern France.
Verkor — key deal facts
| Company | Verkor |
| Founded | 2020 |
| Headquarters | Grenoble, France |
| Amount raised | EUR 2B |
| Valuation | Valuation Remains Undisclosed |
| Round | Series C |
| Investors | A&G Energy Transition Tech Fund Accenture Ventures Claret Capital Partners ETF Partners Kheng Nam Lee Santander Climate Tech Fund Taavet Hinrikus Trill Impact |
| Sectors | Battery |
Who invested in Verkor?
The Series C was backed by A&G Energy Transition Tech Fund, Accenture Ventures, Claret Capital Partners, ETF Partners, Kheng Nam Lee, Santander Climate Tech Fund, Taavet Hinrikus, and Trill Impact. The investor mix is notable for combining corporate venture arms, specialist climate and energy transition funds, and impact investors alongside individual backers, reflecting broad institutional conviction in European battery manufacturing. No single lead investor was disclosed.
What does Verkor do?
Verkor is a French industrial company founded in July 2020 that designs and manufactures low-carbon lithium-ion battery cells for electric vehicles and stationary energy storage. Its core products are NMC lithium-ion cells produced in large-format pouch and cylindrical configurations, targeting passenger, commercial, and off-highway vehicle applications. The company is headquartered in Grenoble, France, where its Verkor Innovation Centre conducts cell development; it operates under the leadership of co-founder and CEO Benoit Lemaignan. Verkor inaugurated its first 16 GWh gigafactory in Bourbourg, near Dunkirk, in December 2025.
Verkor valuation & multiples
Explore the benchmarks: Series C.
Frequently asked questions
How much did Verkor raise in its Series C?
Verkor raised EUR 2 billion 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 round included A&G Energy Transition Tech Fund, Accenture Ventures, Claret Capital Partners, ETF Partners, Kheng Nam Lee, Santander Climate Tech Fund, Taavet Hinrikus, and Trill Impact.
When was Verkor founded and where is it based?
Verkor was founded in July 2020 and is headquartered in Grenoble, France.
Source: original announcement — read the full report.