Our Next Energy Inc. (ONE), a Michigan-based energy storage technology company, today announced it has closed a $300 million Series B capital raise at a post-money valuation of $1.2 billion.
The round was led by Fifth Wall and Franklin Templeton, and joined by ONE’s Series A
investors and new growth equity investors Temasek, Riverstone Holdings and Coatue. Two undisclosed strategic investors also participated in this round, including a manufacturer of EV technology solutions and a renewable energy provider, representing cell offtake agreements. Two new venture equity investors, AI Capital Partners (Alpha Intelligence Capital’s U.S.-based fund) and Sente Ventures (in conjunction with TR.PE), also participated in the round.
Read the full press release