About Spear Power Systems
Spear Power Systems is a company based in Kansas City (United States) founded in 2013 by Jeffery Kostos and Joon Kim was acquired by Sensata in August 2021.. 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 as of December 31, 2023. Spear Power Systems operates in a competitive market with competitors including A123 Systems, QuantumScape, StoreDot, Lohum and Verkor, among others.
- Headquarter Kansas City, United States
- Employees 66 as on 31 Dec, 2023
- Founders Jeffery Kostos, Joon Kim
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Sectors
Transportation, Automotive & LogisticsEnergy & Utilities
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Email
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Phone
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Website
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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 Total Funding
- Total Rounds 4
- Last Round Grant — $4.5M
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First Round
First Round
(24 Jul 2018)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jan, 2021 | Amount | Grant - Spear Power Systems | Valuation |
investors |
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| Nov, 2020 | Amount | Series B - Spear Power Systems | Valuation |
investors |
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| Oct, 2019 | Amount | Series B - Spear Power Systems | Valuation | Emerald Technology Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 |
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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. 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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Growth-stage energy sector focused venture capital firm investing primarily in the US
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Investments & Acquisitions by Spear Power Systems
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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Fine Asian gourmet food is offered by an internet-first restaurant.
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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Fine Asian gourmet food is offered by an internet-first restaurant.
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Financial Statements - Spear Power Systems
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| 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 |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Spear Power Systems Comparisons
Competitors of Spear Power Systems
Spear Power Systems 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 A123 Systems, QuantumScape, StoreDot, Lohum and Verkor, 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 |
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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 |
Solid-state lithium-metal batteries are manufactured with anode-less cell design.
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| domain | founded_year | HQ Location |
Fast-charging lithium batteries for electric vehicles are developed and manufactured.
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| domain | founded_year | HQ Location |
Recycles lithium-ion batteries and repurposes battery raw materials through low-carbon refining
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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 |
Comprehensive solutions for electric vehicles and energy storage are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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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 Spear Power Systems
Frequently Asked Questions about Spear Power Systems
When was Spear Power Systems founded?
Spear Power Systems was founded in 2013 and raised its 1st funding round 5 years after it was founded.
Where is Spear Power Systems located?
Spear Power Systems is headquartered in Kansas City, United States. It is registered at Kansas City, Missouri, United States.
Who is the current CEO of Spear Power Systems?
Jeffery Kostos is the current CEO of Spear Power Systems. They have also founded this company.
Is Spear Power Systems a funded 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 B of $14.56M, raised on Jul 24, 2018.
How many employees does Spear Power Systems have?
As of Dec 31, 2023, the latest employee count at Spear Power Systems is 66.
What does Spear Power Systems do?
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.
Who are the top competitors of Spear Power Systems?
Spear Power Systems's top competitors include Lohum, StoreDot and Contemporary Amperex Technology.
Who are Spear Power Systems's investors?
Spear Power Systems has 10 investors. Key investors include Sensata, ABB, European Union, Energy Innovation Capital, and Nabtesco Technology Ventures.
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