Wednesday, May 25, 2016

Stem Scores $15M From Peter Thiel's Mithril Capital

Millbrae-based Stem, a developer of battery-backed, software-driven energy storage systems, said this morning that it has raised $15M in an investment from Mithril Capital Management--the investment firm of Peter Thiel--along with RWE Supply & Trading of Germany, Mitsui & Co., and investors from previous rounds. The new Series C funding brings its total funding in the round to $68M. Stem is led by CEO John Carrington. Other investors in the round include Angeleno Group, Iberdrola, GE Ventures, Constellation New Energy, and Total Energy Ventures. More information »