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FORM ENERGY
Form Energy
Energy Storage · Somerville, Massachusetts · United States · Founded · 2017 · ≈ · 887 · employees

Form Energy Funding — Last Valued at $1.8B

Private

Form Energy has raised $2B across 3 funding rounds, plus 4 undated rounds. The latest round valued Form Energy at $1.8B pre-money, with T. Rowe Price on the lead line.

ProfileValuationFundingCompetitorsStock & IPOHow to invest
Form Energy funding · at a glance
Total raised, all rounds
$2B
sum of disclosed sizes
Funding rounds
3
plus 4 undated rounds
Latest round
$1.8B
pre-money · Aug 2026
Lead on that event
T. Rowe Price
lead investor
2026
About Form Energy

Form Energy raised $750 million in a Series G round led by T. Rowe Price at a $1.8 billion valuation, and has taken in more than $1.2 billion overall from venture capital, growth equity and strategic corporate investors. The proceeds are earmarked for scaling manufacturing at its West Virginia plant to meet AI-driven demand for grid storage.

Funding timeline

The Form Energy funding timeline

3 funding rounds, the latest highlighted.

2017
Form Energy founded

Form Energy was founded in 2017, United States.

UNDATED
Series F, Series A, Series B, Series C

No date is disclosed for this round.

AUG 2021
Series D

A primary round — the company sells new shares to investors it selects. $240M raised, led by ArcelorMittal.

Valuation basisAmount$240MPrice / shareLeadArcelorMittal
OCT 2022
Series E

A primary round — the company sells new shares to investors it selects. $450M raised, led by TPG Rise Climate.

Valuation basisAmount$450MPrice / shareLeadTPG Rise Climate
AUG 2026LATEST
Series G at $1.8B pre-money

A primary round — the company sells new shares to investors it selects. $750M raised, led by T. Rowe Price.

Valuation basispre-moneyAmount$750MPrice / shareLeadT. Rowe Price
IPO: NOT ANNOUNCED

No filing has been made.

Funding rounds

Form Energy funding rounds in full

3 dated rounds, newest first.

Round
Date
Amount
Valuation
Price / share
Lead investors
Participation
Series G LATEST
Aug 2026
$750M
$1.8Bpre-money
—
T. Rowe Price
—
Series E
Oct 2022
$450M
—
—
TPG Rise Climate
—
Series D
Aug 2021
$240M
—
—
ArcelorMittal
—
Series F
—
$405M
—
—
T. Rowe Price, GE Vernova
—
Series A
—
$9M
—
—
Breakthrough Energy Ventures, Prelude Ventures, The Engine
—
Series B
—
$40M
—
—
Eni Next
—
Series C
—
$76M
—
—
Coatue Management
—
Form Energy · investors

Investors

Coatue ManagementLEADEEni NextLEADBreakthrough Energy VenturesLEADPPrelude VenturesLEADTThe EngineLEADT. Rowe PriceLEADGGE VernovaLEADTTPG Rise ClimateLEADAArcelorMittalLEADSSequoia CapitalJJanus HendersonFFranklin TempletonPPEAK6 Investments

Frequently asked questions

How can I get exposure to Form Energy?›

The routes section explains what is realistically available for a company at this stage.

Is Form Energy publicly traded?›

No. Form Energy is a private company; its shares do not trade on a public exchange.

What is Form Energy's valuation?›

The last valuation is $1.8B.

Who has invested in Form Energy?›

Lead investors for each round are in the funding timeline.

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