Copper Valuation, Funding & Investors

Copper is valued at $2B as of July 2024.

Last Copper valuation

$2B

Seed · Jul 2024

Last Copper funding round

$10M

Seed · Jul 2026

Cumulative funding Copper raised

$59M

across 5 funding rounds

Key investors in Copper

  • Collaborative Fund
  • Climate Capital
  • Necessary Ventures
  • Voyager Ventures
  • Leap Forward Ventures
  • Dangerous Ventures

Copper Overview

About Copper

Copper is a Reno-based startup developing home battery storage solutions. Its Copper Home system provides 13.5 kWh capacity with modular scalability up to 27 kWh, integrating solar inverters and vehicle-to-home charging. The product targets residential users in California and Nevada, qualifying for incentives under the federal Investment Tax Credit.


Founded

2022

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$2B (Jul 2024)

Copper Valuation

Copper is currently valued at $2B, based on its seed round in July 2024.

Copper's valuation has grown 83x from $24M at its seed round in August 2023 to $2B in July 2024, across 2 priced rounds.

Copper valuation by funding round

Copper valuation by funding round
DateStageValuation
Jul 2024Seed$2B
Aug 2023Seed$24M

Copper Funding History

Copper has raised a total of $59M across 5 funding rounds.

Copper's first fundraising round was a $7M seed round in August 2023. The most recent completed round was a $10M seed round in July 2026.

Copper funding rounds

Copper funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2026Seed-$10M-Copper prices rose through July 2026 on a mix of tight inventories, strong China demand signals, and tariff-related positioning in US markets. Reuters reported benchmark LME copper at $13,633 per metric ton on July 20 and $13,650 per metric ton on July 15, while a July 31 Bloomberg report said futures were near $13,800 a ton and set for a monthly gain of more than 3% in July. US COMEX copper also traded around $6.18 to $6.29 per pound in early-to-mid July, with one July 20 update showing futures around $6.29/lb and another July 6 settlement at $6.1780/lb. Market commentary tied the move to shrinking inventories, strong Chinese imports, lower US inflation data, and shifting tariff expectations, including reports of a supplier price increase announced on July 10 and later clarification that refined copper was spared from the initial tariff scope. Copper’s July move reflected a broader 2026 rally rather than a company-specific deal, with physical and futures markets both supported by supply tightness and policy-driven trading flows.
Jul 2026Undisclosed stage-$10M-Copper prices were higher in July 2026, supported by tightening inventories, strong demand signals from China, and tariff-related positioning in the US market. Reuters reported benchmark LME copper at USD 13,633 per metric ton on July 20 and USD 13,650 per metric ton on July 15, while Bloomberg reported futures near USD 13,800 per ton on July 31 as the market headed for a monthly gain of more than 3%. The rally was driven by a mix of supply tightness and policy expectations. Reuters cited dwindling inventories and strong Chinese import data as key supports, while market commentary in late July pointed to a widening Comex-LME premium and trader positioning around potential US tariffs on refined copper and copper derivatives. On the US futures side, Comex copper for July delivery settled at USD 6.1780 per pound on July 6, then traded around USD 6.29 per pound on July 20 and USD 6.41 on the tracked session cited later in July, reflecting a stronger domestic price tone than the LME benchmark.
Aug 2025Series APrelude Ventures (lead); Climate Capital; Dangerous Ventures; Leap Forward Ventures; Building Ventures; Designer Fund; Voyager Ventures; Collaborative Fund; Climactic VC; Necessary Ventures$28M--
Jul 2024Seed-$4M$2BCopper is a crypto custody firm founded in 2018 that provides custody, prime brokerage, and settlement services to institutional investors. The company was reportedly seeking a Series C raise at a $3 billion valuation before market downturns but saw Barclays participate in the ongoing round at a $2 billion valuation around July. Prior rounds included a $50 million Series B in May 2021 co-led by Dawn Capital and Target Global, following a $10 million Series A in 2020. The Series C fundraising involved $196 million raised as of June, comprising $181 million from shareholders and a $15 million convertible loan note. Copper has hired traditional finance veterans to build prime infrastructure. In October 2024, its ClearLoop product processed $121.2 billion in trading volume in July 2024, nearly double the prior period, indicating strong operational growth.
Aug 2023SeedE14 Fund; Climate Capital; Dangerous Ventures; Leap Forward Ventures; SBXi; Voyager Ventures; Climate Tech Circle; Collaborative Fund; Necessary Ventures$7M$24M-

Who has invested in Copper?

13 investors have backed Copper across its funding rounds, including Collaborative Fund, Climate Capital, Necessary Ventures, Voyager Ventures, Leap Forward Ventures and Dangerous Ventures.

Lead investors include Prelude Ventures.


Copper Investors

Investors in Copper by funding rounds participated
InvestorHQRoundsRoleFirst check
Climate CapitalUnited StatesSan Francisco, CA2ParticipantAug 2023
Dangerous VenturesUnited StatesLos Angeles, CA2ParticipantAug 2023
Leap Forward VenturesUnited StatesSan Francisco, CA2ParticipantAug 2023
Voyager VenturesUnited StatesSan Francisco, CA2ParticipantAug 2023
Collaborative FundUnited StatesNew York City, NY2ParticipantAug 2023
Necessary VenturesUnited StatesSan Francisco, CA2ParticipantAug 2023
E14 FundUnited StatesUnited States1ParticipantAug 2023
Building VenturesUnited StatesBoston, MA1ParticipantAug 2025
Designer FundUnited StatesSan Francisco, CA1ParticipantAug 2025
Prelude VenturesUnited StatesSan Francisco, CA1LeadAug 2025
SBXiUnited StatesUnited States1ParticipantAug 2023

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Copper Competitors

Copper competitors include listed companies like GoodWe Technologies, SMA Solar Technology, Rockpoint Gas Storage and Liontown, and private ones like YinLong Group and Verkor.

Public and private companies comparable to Copper
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
YinLong GroupChinaZhuhaiPrivate--$1.9B-
VerkorFranceGrenoblePrivate--$2.1B-
GoodWe TechnologiesChinaChinaPublicly listed$1.3B$47M$2.1B1.2x
SMA Solar TechnologyGermanyGermanyPublicly listed$1.7B($77M)$2.2B1.1x
Rockpoint Gas StorageCanadaCanadaPublicly listed$479M$362M$2.2B7.5x
LiontownAustraliaAustraliaPublicly listed$455M$103M$2.3B4.3x
Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GoodWe Technologies$1.3B$47M1.6x1.2x44.7x13.2x
SMA Solar Technology$1.7B($77M)1.2x1.1x(26.4x)14.3x
Rockpoint Gas Storage$479M$362M7.3x7.5x9.6x9.0x
Liontown$455M$103M5.0x4.3x21.8x14.6x
Ola Electric$215M($97M)8.8x7.9x(19.5x)(21.4x)
ADI Global Distribution$4.8B($54M)0.6x-(50.7x)-
Voltronic Power$644M$141M3.4x3.4x15.8x16.9x
Eos Energy Enterprises$114M($930M)21.8x9.9x(2.7x)(9.5x)

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Common questions about Copper

When was Copper founded?Copper was founded in 2022.
Where is Copper headquartered?Copper is headquartered in San Francisco, CA, United States.
Is Copper publicly listed?No, Copper is a private, VC-backed company.
What is Copper's valuation?Copper was last valued at $2B in its seed round in July 2024.
How much funding has Copper raised?Copper has raised $59M across 5 funding rounds.
What was Copper's last funding round?Copper's last funding round was a $10M seed round in July 2026.
Who are Copper's investors?Copper's investors include Climate Capital, Dangerous Ventures, Leap Forward Ventures, Voyager Ventures, Collaborative Fund, Necessary Ventures, E14 Fund, Building Ventures, Designer Fund, Prelude Ventures and 3 others.
Which companies are comparable to Copper?Companies comparable to Copper include YinLong Group, Verkor, GoodWe Technologies, SMA Solar Technology, Rockpoint Gas Storage and Liontown.

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