Tech Company Financing Transactions
Alsym Energy Funding Round
Alsym Energy, based in Woburn, scored $78 million in investment from General Catalyst, Tata Industries and DRADS Capital.
Transaction Overview
Company Name
Announced On
4/3/2024
Transaction Type
Venture Equity
Amount
$78,000,000
Round
Series C
Investors
General Catalyst (Lead Investor)
Tata Industries (Lead Investor)
Proceeds Purpose
Alsym plans to use the new funding to double the team from 50 to 100 and build two production lines, 1 megawatt-hour each in capacity, to provide samples to customers.
Company Information
Company Status
Private & Independent
Industry
Energy & Battery
Mailing Address
82 Cummings Park Dr.
Woburn, MA 01801
USA
Woburn, MA 01801
USA
Phone
Website
Email Address
Overview
Electricity generation is shifting to renewables, but on their own, renewables can only be relied on for supplemental or backup power. It is only when wind and solar are coupled with energy storage that service level agreements (SLAs) supporting 24×7 delivery become possible and renewables can be considered as a primary power source.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Mukesh Chatter
Chief Financial Officer
Michael Hannon
VP - Marketing
Matthew West
VP - R & D
Rahul Mukherjee
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We do our best to report on funding rounds that are announced publicly. VC investment data records reported here are sourced from news reports and company announcements. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
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