Companies · Manufacturing

Mullen Automotive Inc.

BREA · Manufacturing

Diligence memoA one-page analyst read on Mullen Automotive Inc. — recommendation, valuation, rhythm, risks.
$181.7M
Total raised · real
4
Rounds
11.9×
Latest step-up
Top 3%
Sector rank · raised
Series D+
Latest stage · inferred · Tue May 28 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Mullen Automotive Inc. looks fair against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the manufacturing sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 0.74× the median modeled value of Series D+ Manufacturing companies in 2022–2024 (10 peers) — value vs value, same stage and era.
  • Within the normal band (74% of peer median) for its niche.
At-risk
  • Last raise 2.1 yr ago; this sector typically re-raises about every 12 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Manufacturing

Mullen Automotive Inc. is one of 3257 Manufacturing companies tracked from BREA. By capital raised it ranks among the largest (ahead of 98% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
1
Investors (latest)
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$500M$1.0B$1.5B$2.0BSeries A · 2015-04-30 Raised $5.0M (real) Modeled valuation $50M (est)$5.0M$50MSeries A2015Series A · 2017-12-29 Raised $7.6M (real) Modeled valuation $75M (est)$7.6M$75MSeries A2017Series A · 2024-05-14 Raised $13M (real) Modeled valuation $55M (est)$13M$55MSeries A2024Series D+ · 2024-05-28 Raised $156M (real) Modeled valuation $1.3B (est)$156M$1.3BSeries D+2024+$7.6M+$13M+$156MCumulative $182M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$5.0M · 2015
Series A extension$7.6M · 2017
Series A extension$13.2M · 2024
Series D+$156.0M · 2024no Series B / Series C on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series B, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$1.3B
Base estimate est.
$901.7M
Conservative case
$1.9B
Upside case
$1.3B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the manufacturing sector profile. Directional, not a quoted figure.

Series A · modeled $49.9M · 2015-04-302015Series A · modeled $75.4M · 2017-12-29Series A · modeled $54.5M · 2024-05-14Series D+ · modeled $1.3B · 2024-05-282024
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
87%
Survival probability
69% low · 96% high
1.08×/yr
Annual markup
1.21×/yr upside case
2.1 yr
Elapsed time used
2.1 yr actual, capped for stale marks
manufacturing
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
36 mo
Avg between rounds
$20.0M/yr
Capital velocity
11.2 yr
On record since
2015
First round
4
Rounds on file
How it compares to the market

Benchmarked against 3257 companies in Manufacturing. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 90× above median
This company$181.7M
Sector median$2.0M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 1.4× above median
This company$156.0M
Sector median$108.6M
Modeled value — vs sector median (estimate, all stages) 110× above median
This company$1.3B
Sector median$12.0M

Raised more than 98% of sector peers (real $). Modeled value above 98% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #6 of 10.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$10.0M$100.0M$1.0B$10.0BCapital raised (log)Lotus Technology Inc. · Series D+ Raised $350.0M · modeled $2.9B (est)Arrival · Series D+ Raised $303.0M · modeled $2.8B (est)Newlight Technologies, Inc. · Series D+ Raised $357.7M · modeled $2.5B (est)Filtration Group Equity Llc · Series D+ Raised $241.5M · modeled $2.3B (est)BPCP NSA Holdings, Inc. · Series D+ Raised $264.9M · modeled $2.2B (est)Banner Apex Holdings, LLC · Series D+ Raised $141.0M · modeled $1.2B (est)Re:Car, Inc. · Series D+ Raised $111.0M · modeled $1.0B (est)Bombas LLC · Series D+ Raised $279.5M · modeled $937.3M (est)Amyris, Inc. · Series D+ Raised $1.6B · modeled $77.1M (est)Mullen Automotive Inc. (this company) Raised $181.7M · modeled $1.3B (est)Mullen Automotive Inc.
CompanyStageRaised · realValue · estvs peer med.
Lotus Technology Inc.Series D+$350.0M$2.9B1.62×
ArrivalSeries D+$303.0M$2.8B1.57×
Newlight Technologies, Inc.Series D+$357.7M$2.5B1.38×
Filtration Group Equity LlcSeries D+$241.5M$2.3B1.30×
BPCP NSA Holdings, Inc.Series D+$264.9M$2.2B1.26×
Mullen Automotive Inc. this companySeries D+$181.7M$1.3B0.74×
Banner Apex Holdings, LLCSeries D+$141.0M$1.2B0.69×
Re:Car, Inc.Series D+$111.0M$1.0B0.57×
Bombas LLCSeries D+$279.5M$937.3M0.53×
Amyris, Inc.Series D+$1.6B$77.1M0.04×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$5.0M2015-04-30$22.7M$49.9M85%
Series A$7.6M2017-12-29$34.3M$75.4M90%
Series A$13.2M2024-05-14$59.8M$54.5M90%
Series D+$156.0M2024-05-28$1.3B$1.3B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$5.0M2015-04-30
    • First recorded raise — entered as Series A.
    • 4 investors on this round.
  2. Series A$7.6M2017-12-29
    • Raised again after 32 mo — slower than the ~12 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 1 investor on this round.
  3. Series A$13.2M2024-05-14
    • Raised again after 76 mo — slower than the ~12 mo sector norm.
    • Round 1.7× larger than the prior — scaling up.
    • 8 investors on this round.
  4. Series D+$156.0M2024-05-28
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 11.9× larger than the prior — scaling up.
    • 1 investor on this round.
Intelligence
2027 ~Q2
Modeled next raise · ~36mo cadence
$468.0M
Modeled next size est.range $304.2M$748.8M
11.9×
Last step-up
$20.0M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
JONATHAN NEW2 other2015-04
David Michery1 other2024-05
JAMES CAAN1 other2017-12
KENGES RAKISHEV1 other2015-04
Kent Puckett1 other2024-05
Mark Betor1 other2024-05
Mary Winter1 other2024-05
WILLIAM HEALY1 other2015-04
Calin Popa2024-05
DAVID P KELLEY2015-04
DREW FREEMAN2015-04
HOWARD ASH2017-12
Ignacio Novoa2024-05
JAMES P CAAN2015-04
John Andersen2024-05
Johnathan New2024-05
OLEG FIRER2015-04
STEVEN WOLBERG2015-04
William Miltner2024-05
Registry & provenance

Mullen Automotive Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1499961
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Mullen Technologies, Inc.Software / TechGrowth/Late$505.6M$15.3Mnetwork4 shared operators
Heron Power Electronics CoManufacturingSeries D+$181.5M$1.0Bsame sector · same stage
Garrett Motion Inc.ManufacturingSeries D+$179.3M$1.9Bsame sector · same stage
Cbac Holdings LlcManufacturingSeries D+$178.1M$1.2Bsame sector · same stage
Fastener Holdco, LLCManufacturingSeries D+$186.0M$2.1Bsame sector · same stage
Infiltrator Water Technologies Ultimate Holdings, Inc.ManufacturingSeries D+$186.0M$2.1Bsame sector · same stage
Groen Brothers Aviation Global, Inc.ManufacturingSeries D+$186.4M$1.3Bsame sector · same stage
Thermadyne Technologies Holdings, Inc.ManufacturingSeries D+$175.3M$2.0Bsame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Ronn Motor Group Inc.ManufacturingPre-Seed$5.3M81%
Mustang Motor Holdings, LLCManufacturingSeries A$62.3M80%
PNW Components, Inc.ManufacturingPre-Seed$1.9M80%
Recaro Automotive North America, Inc.ManufacturingSeed$19.6M79%
Auto Metal Craft Inc.ManufacturingSeries A$49.3M79%
Buell Motor Holdings, Inc.ManufacturingSeed$9.8M79%
LuminX Global, Inc.ManufacturingSeries A$22.3M78%
Misen Inc.ManufacturingSeed$33.7M78%
Frequently asked
How much funding has Mullen Automotive Inc. raised?
Mullen Automotive Inc. has raised approximately $181.7M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Mullen Automotive Inc.'s estimated valuation?
Provath's modeled valuation for Mullen Automotive Inc. is approximately $1.3B (modeled range $901.7M–$1.9B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Mullen Automotive Inc. at?
Mullen Automotive Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Tue May 28.
What does Mullen Automotive Inc. do and where is it based?
Mullen Automotive Inc. operates in the Manufacturing sector, based in BREA.
Explore related

See where Mullen Automotive Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

Is this your company?

If you work at Mullen Automotive Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.