About KORE Power
KORE Power is a company based in Idaho Falls (United States) founded in 2018 by Lindsay Gorrill.. KORE Power has raised $75.1 million across 1 funding round from investors including Honeywell, Siemens and Nidec Group. The company has 132,692 employees as of December 31, 2021. KORE Power has completed 1 acquisition, including Northern Reliability. KORE Power offers products and services including 750 LFP DC Block, 1340 NMC DC Block, K1 55 NMC Cell, and K2 280 LFP Cell. KORE Power operates in a competitive market with competitors including SunPower, A123 Systems, Ambri, Verkor and Northvolt, among others.
- Headquarter Idaho Falls, United States
- Employees 132692 as on 31 Dec, 2021
- Founders Lindsay Gorrill
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Kore Power, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$75.1 M (USD)
in 1 rounds
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Latest Funding Round
$75.1 M (USD), Series C
Nov 30, 2022
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Investors
Honeywell
& 5 more
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Employee Count
132692
as on Dec 31, 2021
- Investments & Acquisitions
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Products & Services of KORE Power
KORE Power offers a comprehensive portfolio of products and services, including 750 LFP DC Block, 1340 NMC DC Block, K1 55 NMC Cell, and K2 280 LFP Cell. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
High-capacity battery block for grid-scale energy applications.
NMC chemistry block for high discharge power needs.
NMC cell designed for various energy storage uses.
LFP cell for reliable E-Mobility and storage solutions.
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Funding Insights of KORE Power
KORE Power has successfully raised a total of $75.1M through 1 strategic funding round. The most recent funding activity was a Series C round of $75.1 million completed in November 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series C — $75.1M
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First Round
First Round
(30 Nov 2022)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2022 | Amount | Series C - KORE Power | Valuation | Siemens |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in KORE Power
KORE Power has secured backing from 6 investors, including institutional and venture fund investors. Prominent investors backing the company include Honeywell, Siemens and Nidec Group. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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A single-family office focused on technology and innovation investments.
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Founded Year | Domain | Location | |
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Industrial software is developed for automation, electrification, and digitalization solutions.
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Founded Year | Domain | Location | |
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Integrated infrastructure solutions provider
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by KORE Power
KORE Power has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Northern Reliability. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Experts in power solutions and energy storage
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2007 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - KORE Power
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Kore Power Comparisons
Competitors of KORE Power
KORE Power operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as SunPower, A123 Systems, Ambri, Verkor and Northvolt, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Silicon-based solar PV modules are manufactured for diverse applications.
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| domain | founded_year | HQ Location |
Lithium-ion batteries for automotive and industrial uses are manufactured.
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| domain | founded_year | HQ Location |
Liquid metal batteries are provided for long-duration energy storage.
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| domain | founded_year | HQ Location |
Lithium-ion batteries are manufactured for electric vehicles and storage.
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| domain | founded_year | HQ Location |
Lithium-ion batteries for electric vehicles are manufactured and optimized.
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| domain | founded_year | HQ Location |
Developer of energy storage systems (ESS) based on lithium NMC technology
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Kore Power
Frequently Asked Questions about KORE Power
When was KORE Power founded?
KORE Power was founded in 2018 and raised its 1st funding round 4 years after it was founded.
Where is KORE Power located?
KORE Power is headquartered in Idaho Falls, United States. It is registered at Idaho Falls, Idaho, United States.
Who is the current CEO of KORE Power?
Lindsay Gorrill is the current CEO of KORE Power. They have also founded this company.
Is KORE Power a funded company?
KORE Power is a funded company, having raised a total of $75.1M across 1 funding round to date. The company's 1st funding round was a Series C of $75.1M, raised on Nov 30, 2022.
How many employees does KORE Power have?
As of Dec 31, 2021, the latest employee count at KORE Power is 132,692.
What does KORE Power do?
KORE Power was founded in 2018 and is headquartered in Idaho Falls, United States. Operations focus on the production of lithium-based energy storage systems within the utilities sector. These systems are engineered to capture and store energy generated from renewable and non-renewable sources. Deployment occurs to support urban energy needs, with applications extending to grid stability and power distribution.
Who are the top competitors of KORE Power?
What products or services does KORE Power offer?
KORE Power offers 750 LFP DC Block, 1340 NMC DC Block, K1 55 NMC Cell, and K2 280 LFP Cell.
How many acquisitions has KORE Power made?
KORE Power has made 1 acquisition, including Northern Reliability.
Who are KORE Power's investors?
KORE Power has 6 investors. Key investors include Honeywell, Siemens, Nidec Group, Quanta Services, and Energy Vault.
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