Startup Trends: 5 top funded startups of Q4 2024
Five firms from various industries — Form Energy, Physical Intelligence, Lightmatter, Beta Technologies and Writer — ranked among the highest in fundraising for the fourth quarter of 2024.
beta.teamIndustrial / Aerospace & DefenseFounded: 2017Funding to Date: $1.6B
BETA Technologies is an aerospace company that offers electric vertical takeoff and landing (eVTOL) aircraft and charging infrastructure to the aviation industry. Their aircraft, ALIA, is designed for cargo and passenger transport, aiming to provide sustainable and efficient flight solutions. BETA Technologies strives to advance electric aviation by developing integrated systems that include aircraft, charging stations, and pilot training programs. The company was founded by Kyle Clark in 2017 and is headquartered in South Burlington, VT.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
10/31/2024 | Series C | $318.44MM | $xx.xx | $3.78B | Fidelity, Qatar Investment Authority, Tpg Rise Climate Fund, United Therapeutics | |
Price per Share
$xx.xx
Shares Outstanding
2,781,842
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Fidelity, Qatar Investment Authority, Tpg Rise Climate Fund, United Therapeutics
|
||||||
04/20/2022 | Series B | $375MM | $xx.xx | $2.56B | Fidelity, Tpg Rise Climate Fund | |
Price per Share
$xx.xx
Shares Outstanding
3,634,778
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Fidelity, Tpg Rise Climate Fund
|
||||||
05/18/2021 | Series A-1 | $5.61MM | $xx.xx | $1.4B | Climate Pledge Fund, Fidelity, Redbird Capital Partners | |
Price per Share
$xx.xx
Shares Outstanding
480,307
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Climate Pledge Fund, Fidelity, Redbird Capital Partners
|
||||||
05/18/2021 | Series A-2 | $22.23MM | $xx.xx | $1.4B | Climate Pledge Fund, Fidelity, Redbird Capital Partners | |
Price per Share
$xx.xx
Shares Outstanding
1,584,493
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Climate Pledge Fund, Fidelity, Redbird Capital Partners
|
||||||
05/18/2021 | Series A-3 | $29.89MM | $xx.xx | $1.4B | Climate Pledge Fund, Fidelity, Redbird Capital Partners | |
Price per Share
$xx.xx
Shares Outstanding
1,703,958
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Climate Pledge Fund, Fidelity, Redbird Capital Partners
|
||||||
05/18/2021 | Series A | $367.89MM | $xx.xx | $1.4B | Climate Pledge Fund, Fidelity, Redbird Capital Partners | |
Price per Share
$xx.xx
Shares Outstanding
5,020,952
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Climate Pledge Fund, Fidelity, Redbird Capital Partners
|
Five firms from various industries — Form Energy, Physical Intelligence, Lightmatter, Beta Technologies and Writer — ranked among the highest in fundraising for the fourth quarter of 2024.
Startup aviation companies are providing much of the fuel behind the moves toward zero-emission commercial flights. The latest news on this front is that privately-held Beta Technologies is pursuing Federal Aviation Administration certification for a fixed-wing electric airplane after receiving orders from three customers, the company announced last week.