LuxWall Valuation, Funding & Investors
LuxWall is valued at $101M as of January 2023.
Last LuxWall valuation
$101M
Series A · Jan 2023
Last LuxWall funding round
$77M
Series C · Dec 2025
Cumulative funding LuxWall raised
$167M
across 4 funding rounds
Key investors in LuxWall
Breakthrough Energy Ventures
Prelude Ventures
Khosla Ventures
2150
Baruch Future Ventures
Barclays
About LuxWall
LuxWall is a Ypsilanti-headquartered producer of vacuum-insulated glass for building envelopes. Founded in 2020, its patented technology delivers R-values matching fiberglass insulation in transparent windows, positioned to cut global carbon emissions by over 0.5 gigatonnes annually upon market adoption.
Founded
2020
HQ
Ann Arbor, MIWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$101M (Jan 2023)
LuxWall Valuation
LuxWall is currently valued at $101M, based on its Series A in January 2023.
The $33M round was led by 2150, with participation from Breakthrough Energy Ventures, Prelude Ventures and Khosla Ventures.
LuxWall valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2023 | Series A | $101M |
LuxWall Funding History
LuxWall has raised a total of $167M across 4 funding rounds.
LuxWall's first fundraising round was a $6M seed round in September 2021. The most recent completed round was a $77M Series C in December 2025.
LuxWall funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2025 | Series C | - | $77M | - | LuxWall is a building materials company pioneering vacuum-insulated glass technology that acts as transparent insulation for buildings. The company's patented technology has potential to reduce global carbon emissions by more than 0.5 gigatonnes per year with mass adoption and is well positioned to penetrate the $35 billion glazing market. LuxWall's high-performance window solutions have been adopted by large corporates in manufacturing, technology, and residential sectors across North America and Europe, including historic sites and commercial buildings. In October 2024, LuxWall closed a Series B funding round of $51 million led by Climate Investment and Barclays Sustainable Impact Capital, with participation from new investors Carbon Equity and The Nature Conservancy alongside existing backers Breakthrough Energy Ventures, Prelude Ventures, 2150, Khosla Ventures, and Baruch Future Ventures. The U.S. Department of Energy separately awarded LuxWall $31.7 million through its Manufacturing Efficiency and Supply Chain program, recognizing the company as one of seven U.S. companies selected to strengthen clean energy supply chains and accelerate domestic manufacturing. As of October 9, 2024, LuxWall was valued at $230 million post-money with total funding raised of $90 million, representing a capital efficiency ratio of 2.55x. |
| Oct 2024 | Series B | Barclays (lead); Climate Investment (lead); The Nature Conservancy; Breakthrough Energy Ventures; 2150; Baruch Future Ventures; Prelude Ventures; Khosla Ventures; Carbon Equity | $51M | - | LuxWall, a Ypsilanti, Michigan-based company, develops vacuum insulating glass (VIG) technology that provides thermal insulation comparable to opaque walls, reducing building energy loss by up to 45% and delivering R-18 to R-21 insulation—five times better than standard double-pane glass. The technology enables retrofits into existing window frames and serves residential, historic, commercial buildings across North America and Europe, with adoption by large corporates in manufacturing, technology, and residential sectors. LuxWall's solutions target the significant energy loss through windows, which accounts for a major portion of heating and cooling demands in buildings responsible for 40% of global GHG emissions. On October 31, 2024, LuxWall closed a $51 million Series B funding round led by Climate Investment and Barclays Sustainable Impact Capital, with participation from new investors Carbon Equity and The Nature Conservancy, alongside existing backers Breakthrough Energy Ventures, Prelude Ventures, 2150, Khosla Ventures, and Baruch Future Ventures. This follows a $33 million Series A announced in January 2023. The funds will scale production at the newly opened $165 million factory in Litchfield, Michigan—the world's first high-volume VIG facility—support construction of a second factory in Detroit's Delray neighborhood, and expand R&D in Ypsilanti. Complementing the equity raise, LuxWall received a $31.7 million U.S. Department of Energy grant for the Detroit facility to strengthen clean energy supply chains. The company has partnerships like one with Kolbe Windows & Doors for its Enthermal technology and recognition including the Norrsken Foundation’s 2024 Impact/100 list. CEO Scott Thomsen highlighted the funding as a vote of confidence, positioning LuxWall to address the massive market of single-pane windows and rising energy costs. |
| Jan 2023 | Series A | 2150 (lead); Breakthrough Energy Ventures; Prelude Ventures; Khosla Ventures | $33M | $101M | LuxWall designs, develops, and manufactures next-generation high-performance vacuum-insulating glass (Enthermal™ products) that delivers superior thermal insulation with an R-value of R-16 while maintaining thin glass profiles. The company's Net Zero Glass technology can reduce building heating costs by up to 45% and cooling costs by up to 20%, with potential to reduce global carbon emissions by 14% upon mass adoption. The technology is marketed as a retrofit solution for single-pane glass in residential homes, historic sites, and commercial buildings across North America and Europe. In January 2023, LuxWall closed a Series A funding round of $33 million led by venture capital firm 2150, with participation from Khosla Ventures and existing investors Breakthrough Energy Ventures and Prelude Ventures. The company was preparing to scale production of its capital-intensive sustainable glass manufacturing at the time. LuxWall subsequently closed a Series B round of $51 million in October 2024 led by Climate Investment and Barclays Sustainable Impact Capital, alongside a $31.7 million U.S. Department of Energy Manufacturing Efficiency and Supply Chain grant. The company has established manufacturing operations in Michigan and been recognized by the Norrsken Foundation's 2024 Impact/100 list as one of just three construction sector startups among the world's most promising impact companies. |
| Sep 2021 | Seed | Breakthrough Energy Ventures (lead); Prelude Ventures (lead); Baruch Future Ventures | $6M | - | LuxWall, Inc. develops vacuum insulated glass (VIG) solutions to reduce carbon emissions in buildings through superior thermal insulation. The company completed a funding round on September 21, 2021, led by Breakthrough Energy Ventures and Prelude Ventures, with participation from Baruch Future Ventures, to support ongoing development, design, validation, and certification of fully tempered VIG products. Breakthrough Energy Ventures invests in technologies addressing global carbon challenges, particularly in construction, while Prelude Ventures highlighted the team's experience to overcome VIG market adoption barriers. This seed VC round aligns with LuxWall's focus on decarbonizing the built environment. LuxWall has since raised additional funding, including a Series B of $51 million in 2024 led by Climate Investment and Barclays Sustainable Impact Capital, with existing investors like Breakthrough Energy Ventures, Prelude Ventures, and Baruch Future Ventures, plus a $31.7 million DOE grant. The company operates factories in Michigan and serves residential, historic, and commercial buildings across North America and Europe. |
Who has invested in LuxWall?
9 investors have backed LuxWall across its funding rounds, including Breakthrough Energy Ventures, Prelude Ventures, Khosla Ventures, 2150, Baruch Future Ventures and Barclays.
Lead investors include Barclays, Climate Investment, 2150, Breakthrough Energy Ventures and Prelude Ventures.
LuxWall Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Paris | 3 | Lead | Sep 2021 | |
| San Francisco, CA | 3 | Lead | Sep 2021 | |
 London | 2 | Lead | Jan 2023 | |
| San Francisco, CA | 2 | Participant | Sep 2021 | |
| San Francisco, CA | 2 | Participant | Jan 2023 | |
 London | 1 | Lead | Oct 2024 | |
| Washington, DC | 1 | Participant | Oct 2024 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialLuxWall Competitors
LuxWall competitors include listed companies like Hadron Energy and Tigo Energy, and private ones like AISTI, Toraphene, Plantd and ecoLocked.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Jyväskylä | Private | - | - | $108M | - | |
| London | Private | $1M | - | $111M | 110.5x | |
| Durham, NC | Private | - | - | $120M | - | |
 Germany | Private | - | - | $43M | - | |
| United States | Publicly listed | - | ($72M) | $119M | - | |
| United States | Publicly listed | $104M | $10M | $75M | 0.6x |
LuxWall Public Comps
LuxWall is still privately-owned, but its public comps include Trinidad Cement, Infragreen Group, Otovo, Big River Industries, Çağdaş Cam, Umbrella Global Energy, Hadron Energy, Midsummer, Hoffmann Green Cement and Altea Green Power.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $352M | $56M | 0.3x | - | 1.7x | - | |||
| $84M | $17M | 1.1x | 1.2x | 5.2x | 5.9x | |||
| $60M | ($27M) | 1.5x | 1.6x | (3.2x) | (4.0x) | |||
| $303M | $22M | 0.4x | 0.4x | 5.9x | 5.6x | |||
| $50M | $10M | 1.6x | - | 8.1x | - | |||
| $28M | ($7M) | 3.0x | - | (12.4x) | - | |||
| - | ($72M) | - | - | (1.3x) | - | |||
| $17M | ($396K) | 4.9x | - | (206.7x) | - | |||
This data is available for Pro users. Sign up to see all LuxWall competitors and their valuation data. Start Free Trial | ||||||||
Common questions about LuxWall
| When was LuxWall founded? | LuxWall was founded in 2020. |
| Where is LuxWall headquartered? | LuxWall is headquartered in Ann Arbor, MI, United States. |
| Is LuxWall publicly listed? | No, LuxWall is a private, VC-backed company. |
| What is LuxWall's valuation? | LuxWall was last valued at $101M in its Series A in January 2023. |
| How much funding has LuxWall raised? | LuxWall has raised $167M across 4 funding rounds. |
| What was LuxWall's last funding round? | LuxWall's last funding round was a $77M Series C in December 2025. |
| Who are LuxWall's investors? | LuxWall's investors include Breakthrough Energy Ventures, Prelude Ventures, 2150, Baruch Future Ventures, Khosla Ventures, Climate Investment, The Nature Conservancy, Carbon Equity and Barclays. |
| Which companies are comparable to LuxWall? | Companies comparable to LuxWall include AISTI, Toraphene, Plantd, ecoLocked, Hadron Energy and Tigo Energy. |
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