About Raygen
Raygen is a company based in Hawthorn East (Australia) founded in 2005 by John Lasich.. Raygen has raised $112.42 million across 6 funding rounds from investors including SLB, Oxy and AGL Energy. Raygen offers products and services including Solar Module, Energy Storage System, and Power Plant Services. Raygen operates in a competitive market with competitors including Form Energy, Ambri, Northvolt, Verkor and Hydrostor, among others.
- Headquarter Hawthorn East, Australia
- Founders John Lasich
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Sectors
Energy & Utilities
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Raygen Resources Pty. Ltd.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$112.42 M (USD)
in 6 rounds
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Latest Funding Round
$76.7 M (USD), Series D
Apr 10, 2025
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Investors
SLB
& 10 more
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Employee Count
Employee Count
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Products & Services of Raygen
Raygen offers a comprehensive portfolio of products and services, including Solar Module, Energy Storage System, and Power Plant Services. 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-efficiency solar panels for electricity generation and storage.
Long-duration storage for on-demand energy supply and grid support.
Systems for dispatchable renewable energy and frequency control.
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Funding Insights of Raygen
Raygen has successfully raised a total of $112.42M across 6 strategic funding rounds. The most recent funding activity was a Series D round of $76.7 million completed in April 2025. 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 6
- Last Round Series D — $76.7M
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First Round
First Round
(01 May 2015)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2025 | Amount | Series D - Raygen | Valuation | Schlumberger | |
| Apr, 2024 | Amount | Series D - Raygen | Valuation | Schlumberger | |
| Jun, 2021 | Amount | Series C - Raygen | Valuation |
investors |
| 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 Raygen
Raygen has secured backing from 11 investors, including institutional and venture fund investors. Prominent investors backing the company include SLB, Oxy and AGL Energy. 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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Breakthrough Victoria is focused on investing in innovation for economic growth.
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Founded Year | Domain | Location | |
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Cleantech sector funding is provided via venture capital investments.
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Founded Year | Domain | Location | |
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Government agency and accelerator focusing on innovative startups and SMEs
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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 Raygen
| 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 |
Financial Statements - Raygen
| 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 |
Raygen Comparisons
Competitors of Raygen
Raygen 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 Form Energy, Ambri, Northvolt, Verkor and Hydrostor, 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 |
Iron-air energy storage systems are developed for renewable energy projects.
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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 for electric vehicles are manufactured and optimized.
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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 |
Compressed air is stored underwater for electricity generation.
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| domain | founded_year | HQ Location |
Solutions for compressed air energy storage systems are provided.
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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 Raygen
Frequently Asked Questions about Raygen
When was Raygen founded?
Raygen was founded in 2005 and raised its 1st funding round 10 years after it was founded.
Where is Raygen located?
Raygen is headquartered in Hawthorn East, Australia. It is registered at Hawthorn East, Victoria, Australia.
Is Raygen a funded company?
Raygen is a funded company, having raised a total of $112.42M across 6 funding rounds to date.
What does Raygen do?
Raygen was founded in 2005 and is headquartered in Hawthorn East, Australia. Concentrated photovoltaic (CPV) systems are developed and supplied by the company within the renewable energy sector. Mirrors are utilized in these systems to focus sunlight onto high-efficiency PV cells, which are designed to deliver 1500 times the power output of conventional cells. Operations emphasize solar technology innovation for utility-scale applications.
Who are the top competitors of Raygen?
Raygen's top competitors include Form Energy, Northvolt and Ambri.
What products or services does Raygen offer?
Raygen offers Solar Module, Energy Storage System, and Power Plant Services.
Who are Raygen's investors?
Raygen has 11 investors. Key investors include SLB, Oxy, AGL Energy, Chevron, and Equinor.
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