# Solarcore

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/solarcore

- Industry: Consumer Products
- Headquarters: Portland, US
- Website: www.solarcore.tech
- Total disclosed funding: $55M
- Latest round: Series B (Dec 2, 2024)
- Investors on record: 22

## About

Founded in 2015 and headquartered in Portland, US, Solarcore produces innovative insulation materials aimed at enhancing thermal regulation. The company has successfully raised a total of USD 29.941 mn across multiple funding rounds, with the latest being a Series B round led by Airbus Ventures. Solarcore has completed 13 deals in its growth trajectory under the leadership of co-founders Michael Markesbery, Rithvik Venna, and Ryan Arsenault, with Markesbery also serving as CEO.

Solarcore® offers advanced thermal insulation solutions primarily based on NASA’s Aerogel Technology. Its flagship products, including the Sc_Foam line, provide exceptional thermal protection for consumer footwear and apparel, achieving temperature ratings as low as -40°C. The company caters to industries such as outdoor gear manufacturing, government contracting, and automotive supply, serving clients across North America, Europe, and Asia.

Solarcore® generates revenue through B2B transactions and partnerships with manufacturers and retailers. They collaborate with notable brands such as Helly Hansen to integrate their Solarcore® Aerogel insulation into various products. Transactions are conducted via supply agreements, with pricing based on order volume and specific client needs, allowing Solarcore® to maintain a solid client base in the insulation market.

Looking ahead, Solarcore is focused on launching new products designed to enhance thermal performance in extreme conditions. The company plans to expand its market presence in Europe and Asia by the end of 2024. The recent funding of USD 29.941 mn from the Series B round will support these initiatives, enabling further development of innovative solutions and the establishment of strategic partnerships to widen their market reach.

## Funding rounds

- Series B, Dec 2, 2024, $30M — Sequel Venture Partners, Wise Partners, Airbus Ventures, Marquee Ventures
- Series B, Apr 3, 2024, $3.7M — Iron Gate Capital, Enlightenment Capital, Airbus Ventures, CTK, REI, Culper Capital Partners, Goldwin Venture Partners, Platinum Mile Ventures, Path Ahead Ventures, Crumpton Ventures
- Series A, Jun 24, 2021, $15M — Enlightenment Capital, Elizabeth Street Ventures
- Seed, Sep 20, 2019 — Beehive Capital, Ketch Ventures
- Seed, Apr 10, 2019, $0M — RedHawk Ventures
- Seed, Mar 31, 2019 — Elizabeth Street Ventures
- Seed, Jul 2, 2018, $6.2M — NCT Ventures, Listen Ventures, Service Provider Capital, Break Trail Ventures
- Seed, Jun 21, 2016, $1M — NCT Ventures, Listen Ventures, Fengshion Capital

## Investors

- NCT Ventures (https://capitalatlas.ai/funds/nct-ventures) — Seed
- Listen Ventures (https://capitalatlas.ai/funds/listen-ventures) — Seed
- Fengshion Capital (https://capitalatlas.ai/funds/fengshion-capital) — Seed
- Service Provider Capital (https://capitalatlas.ai/funds/service-provider-capital) — Seed
- Break Trail Ventures (https://capitalatlas.ai/funds/break-trail-ventures) — Seed
- Elizabeth Street Ventures (https://capitalatlas.ai/funds/elizabeth-street-ventures) — Seed, Series A
- RedHawk Ventures (https://capitalatlas.ai/funds/redhawk-ventures) — Seed
- Beehive Capital (https://capitalatlas.ai/funds/beehive-capital) — Seed
- Ketch Ventures (https://capitalatlas.ai/funds/ketch-ventures) — Seed
- Enlightenment Capital (https://capitalatlas.ai/funds/enlightenment-capital) — Series A, Series B
- Iron Gate Capital (https://capitalatlas.ai/funds/iron-gate-capital) — Series B
- Airbus Ventures (https://capitalatlas.ai/funds/airbus-ventures) — Series B
- CTK — Series B
- REI — Series B
- Culper Capital Partners (https://capitalatlas.ai/funds/culper-capital-partners) — Series B
- Goldwin Venture Partners (https://capitalatlas.ai/funds/goldwin-venture-partners) — Series B
- Platinum Mile Ventures (https://capitalatlas.ai/funds/platinum-mile-ventures) — Series B
- Path Ahead Ventures (https://capitalatlas.ai/funds/path-ahead-ventures) — Series B
- Crumpton Ventures (https://capitalatlas.ai/funds/crumpton-ventures) — Series B
- Sequel Venture Partners (https://capitalatlas.ai/funds/sequel-venture-partners) — Series B
- Wise Partners (https://capitalatlas.ai/funds/wise-partners) — Series B
- Marquee Ventures (https://capitalatlas.ai/funds/marquee-ventures) — Series B