About Spear Power Systems
Spear Power Systems is a Transportation, Automotive & Logistics company based in Kansas City (United States) founded in 2013 by Jeffery Kostos and Joon Kim, and was acquired by Sensata in August 2021. Lithium-ion based battery management systems developer. It operates in the Transportation, Automotive & Logistics and Energy & Utilities sectors. Spear Power Systems has raised $19.56 million across 4 funding rounds from investors including Sensata, ABB and European Union. The company has 66 employees. Its chief executive, as recorded, is Jeffery Kostos. Its focus areas include Energy Tech, Energy Storage Tech, Energy Storage System and Lithium Ion.
Company details
Spear Power Systems was founded in 2013 and is based in Kansas City, United States. Operations focus on the development of lithium-ion battery management systems for industrial, marine, and defense applications. These systems incorporate power electronics supporting voltages up to 1250VDC and thermal management suitable for high external temperatures. A portfolio of five products is maintained, with systems designed to be battery agnostic and compatible with various battery pairings.
- Headquarters Kansas City, United States
- Employees 66
- Founders Jeffery Kostos, Joon Kim
- Stage Acquired
- SectorsTransportation, Automotive & LogisticsEnergy & Utilities
- Email••••••••
- Phone•••• ••••
- Website spearpowersystems.com
- Social LinkedIn X
- Acquired by Sensata (Aug 2021)
Funding Insights of Spear Power Systems
Spear Power Systems has successfully raised a total of $19.56M across 4 strategic funding rounds. The most recent funding activity was a Grant round of $4.47 million completed in January 2021. 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 $19.56M
- Total Rounds 4
- Last Round Grant — $4.47M
- First Round $2M
(Jul 2018)
- Investors Count 9
All 4 funding rounds of Spear Power Systems with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan 2021 | $4.47M | Grant | – | – | |
| Nov 2020 | $3M | Series B | – | – | – |
| Oct 2019 | $14.56M | Series B | – | Emerald Technology Ventures | |
| Jul 2018 | $2M | Series A | – | – | – |
10 investors in total: 10 institutional.
Investors in Spear Power Systems
Spear Power Systems has secured backing from 10 investors, including institutional and venture fund investors. Prominent investors backing the company include Sensata, ABB and European Union.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Growth-stage energy sector focused venture capital firm investing primarily in the US | energyinnovationcapital.com | San Francisco, United States | ||
| nabtesco-ventures.com | ||||
| kcrisefund.com | ||||
Seed & early stage multiple stage focused corp VC firm funding companies in the US and Canada | chevron.com/technology/technology-ventures | Houston, United States | ||
Sustainable industrial innovation is supported through venture capital investments. | emerald.vc | Zurich, Switzerland | ||
Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability | 1958 | europa.eu | Brussels, Belgium | |
Invests in energy innovations like renewables and utilities. | 2015 | evergyventures.com | Kansas City, United States | |
Sells and services Caterpillar construction equipment and parts. | 1942 | foleyeq.com | Wichita, United States | |
ABB Group is engaged in industrial automation and energy solutions. | 1988 | global.abb | United States | |
Multi-parametric sensors and electronic control systems are manufactured. | 2006 | sensata.com | Attleboro, United States |
Investor details for Spear Power Systems
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People of Spear Power Systems
6 people are tracked at Spear Power Systems (3 in leadership, 3 in team); the tracked headcount is 66.
| Name | Role | Group |
|---|---|---|
Jeffery Kostos | Founder, President & CEO | Leadership |
Joon Kim | Co-Founder & CTO | Leadership |
Mitch Mabrey | Managing Director | Leadership |
Shar Terry | Human Resources Manager | Team |
Peter Freiberger | Senior Mechanical Engineer | Team |
Bert Lightle | Electronics Lead | Team |
Complete people profiles for Spear Power Systems
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Timeline of Spear Power Systems
4 dated milestones of Spear Power Systems across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Spear Power Systems is founded.
- Funding First funding round of $2.0M.
- Funding Latest funding round, Grant, of $4.5M.
- Exit Acquired by Sensata.
Top companies in Electric & Green Mobility
3 companies that operate in the same segment as Spear Power Systems (Electric & Green Mobility) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Electric kick-scooters are rented through an app-based platform. | 2017 | Miami, Florida, United States | USD 765 M | USD 244.66 M | 953 | |
Electric kick-scooters are rented through an app-based platform. | 2017 | San Francisco, California, United States | USD 1.4 B | 2,813 | ||
Electric buses and charging systems are manufactured for fleets. | 2004 | Burlingame, California, United States | USD 857.79 M | USD 309.36 M | 418 |
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Frequently Asked Questions about Spear Power Systems
Spear Power Systems was founded in 2013 and raised its 1st funding round 5 years after it was founded.
Spear Power Systems is headquartered in Kansas City, United States. It is registered at Kansas City, Missouri, United States.
Jeffery Kostos is the CEO of Spear Power Systems, as recorded in our data. They have also founded this company.
Spear Power Systems is a funded company, having raised a total of $19.56M across 4 funding rounds to date. The company's 1st funding round was a Series A of $2M, raised on Jul 2018.
Spear Power Systems has 66 employees.
Spear Power Systems was founded in 2013 and is based in Kansas City, United States. Operations focus on the development of lithium-ion battery management systems for industrial, marine, and defense applications. These systems incorporate power electronics supporting voltages up to 1250VDC and thermal management suitable for high external temperatures. A portfolio of five products is maintained, with systems designed to be battery agnostic and compatible with various battery pairings.
Spear Power Systems has 10 investors. Key investors include Sensata, ABB, European Union, Energy Innovation Capital, and Nabtesco Technology Ventures.
Yes. Spear Power Systems was acquired by Sensata in August 2021.