Series D Funded Energy Startups
Among the 21 shown Series D energy rounds, the largest disclosed amount is XENERGY’s $700M on 2025-11-27, a level that dwarfs the next-largest disclosed ro…
Among the 21 shown Series D energy rounds, the largest disclosed amount is XENERGY’s $700M on 2025-11-27, a level that dwarfs the next-largest disclosed rounds (RayGen at $79M on 2025-04-10, Zap Energy at $130M on 2024-09-26, and Ascend Elements at $162M on 2024-02-20 are all well below that peak). The disclosed amounts cluster largely between the low tens and a few hundred million, with one clear disclosure outlier: Hydrexia (2023-09-28) lists “undisclosed,” making comparisons hinge on the remaining fixed amounts.
Timing is front-loaded toward the recent years: rounds span from 2021-02-02 (Svante) through 2025-11-27 (XENERGY). Several entries cluster in a single quarter window in 2022 (multiple January and April dates, including Sun King’s $260M on 2022-04-27 and Sunfire’s $95M on 2022-03-24), while geography appears broadly distributed across the US, Europe, Australia, Canada, and India rather than concentrating in one city or metro.
Most recent rounds
21 shownRelated listings
Frequently asked
Which disclosed Series D round is the size outlier, and what sits closest to it in this list?
XENERGY’s $700M (2025-11-27) is the size outlier, with the next-largest disclosed rounds notably lower, including Factorial Energy at $200M (2022-01-20) and Form Energy at $240M (2021-08-24), while Hydrexia’s 2023-09-28 round is “undisclosed” and can’t be compared by amount.
Do any dates cluster tightly, suggesting a concentrated closing window?
Yes. In 2022, multiple rounds land close together in early-year bursts: January includes Electrochaea ($41M on 2022-01-07), Skeleton Technologies ($42M on 2022-01-28), and Factorial Energy ($200M on 2022-01-20), and April pairs large disclosures on the same day (FreeWire Technologies $125M and Sun King $260M on 2022-04-27).
Which entries fall within the most recent ~90 days of the latest round date (2025-11-27)?
Within ~90 days preceding 2025-11-27, the list shows RayGen ($79M on 2025-04-10) and—more recently—XENERGY on 2025-11-27 itself. The next most recent after RayGen is Zap Energy on 2024-09-26 ($130M), indicating a gap rather than dense late-2025 activity in the 21 shown rows.
Is one geography notably over-represented, or is the segment geographically dispersed?
Geography is dispersed: US locations appear repeatedly (e.g., XENERGY in Rockville, MD; Source in Tempe, AZ; OhmConnect in San Francisco, CA; ConnectDER in Falls Church, VA), but the list also includes non-US entries across Europe (Sunfire in Dresden, Germany; Skeleton Technologies in Tallinn, Estonia; Electrochaea in Planegg, Germany), Australia (RayGen in Nunawading and Hydrexia in Brisbane), Canada (Svante in Burnaby), and India (Ultraviolette Automotive in Bangalore).
Are there disclosure or stage-listing anomalies that affect how analysts should read comparisons?
One round is not comparable by disclosed amount: Hydrexia (Series D, 2023-09-28) is marked “undisclosed.” By contrast, most other entries in this set provide explicit amounts (e.g., Sun King $260M on 2022-04-27 and Zap Energy $130M on 2024-09-26), so quantitative ranking is dominated by the disclosed subset.
Do particular companies show repeated large-check behavior (mid-to-high hundreds) within the disclosed amounts?
Several disclosed rounds cluster in the higher hundreds: XENERGY reaches $700M (2025-11-27), and other large disclosed entries include Form Energy at $240M (2021-08-24), Sun King at $260M (2022-04-27), and Factorial Energy at $200M (2022-01-20). These sit above many other disclosed rounds such as Skeleton Technologies ($42M on 2022-01-28) and Reactive Technologies ($32M on 2024-05-21).
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