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- Copper
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
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
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$2B (Jul 2024)
Sectors
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
| Date | Stage | Valuation |
|---|---|---|
| Jul 2024 | Seed | $2B |
| Aug 2023 | Seed | $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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2026 | Seed | - | $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 2026 | Undisclosed 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 2025 | Series A | Prelude Ventures (lead); Climate Capital; Dangerous Ventures; Leap Forward Ventures; Building Ventures; Designer Fund; Voyager Ventures; Collaborative Fund; Climactic VC; Necessary Ventures | $28M | - | - |
| Jul 2024 | Seed | - | $4M | $2B | Copper 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 2023 | Seed | E14 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Aug 2023 | ||
| 2 | Participant | Aug 2023 | ||
| 2 | Participant | Aug 2023 | ||
| 2 | Participant | Aug 2023 | ||
| 2 | Participant | Aug 2023 | ||
| 2 | Participant | Aug 2023 | ||
| 1 | Participant | Aug 2023 | ||
| 1 | Participant | Aug 2025 | ||
| 1 | Participant | Aug 2025 | ||
| 1 | Lead | Aug 2025 | ||
| 1 | Participant | Aug 2023 | ||
This data is available for Pro users. Sign up to see all 13 Copper investors. Start Free Trial | ||||
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Start Free TrialCopper 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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.9B | - | ||
| Private | - | - | $2.1B | - | ||
| Publicly listed | $1.3B | $47M | $2.1B | 1.2x | ||
| Publicly listed | $1.7B | ($77M) | $2.2B | 1.1x | ||
| Publicly listed | $479M | $362M | $2.2B | 7.5x | ||
| Publicly listed | $455M | $103M | $2.3B | 4.3x |
Copper Public Comps
Copper is still privately-owned, but its public comps include GoodWe Technologies, SMA Solar Technology, Rockpoint Gas Storage, Liontown, Ola Electric, ADI Global Distribution, Voltronic Power, Eos Energy Enterprises, FuelCell Energy and Amprius.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.3B | $47M | 1.6x | 1.2x | 44.7x | 13.2x | |||
| $1.7B | ($77M) | 1.2x | 1.1x | (26.4x) | 14.3x | |||
| $479M | $362M | 7.3x | 7.5x | 9.6x | 9.0x | |||
| $455M | $103M | 5.0x | 4.3x | 21.8x | 14.6x | |||
| $215M | ($97M) | 8.8x | 7.9x | (19.5x) | (21.4x) | |||
| $4.8B | ($54M) | 0.6x | - | (50.7x) | - | |||
| $644M | $141M | 3.4x | 3.4x | 15.8x | 16.9x | |||
| $114M | ($930M) | 21.8x | 9.9x | (2.7x) | (9.5x) | |||
This data is available for Pro users. Sign up to see all Copper competitors and their valuation data. Start Free Trial | ||||||||
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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