Companies · Manufacturing

Newlight Technologies, Inc.

Huntington Beach · Manufacturing

Diligence memoA one-page analyst read on Newlight Technologies, Inc. — recommendation, valuation, rhythm, risks.
$357.7M
Total raised · real
4
Rounds
6.0×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Fri Jun 30 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Newlight Technologies, 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 1.38× 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 (138% of peer median) for its niche.
At-risk
  • Last raise 3.0 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

Newlight Technologies, Inc. is one of 3256 Manufacturing companies tracked from Huntington Beach. By capital raised it ranks among the largest (ahead of 99% 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
172
Investors (latest)
2023-06-30
First sale
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$1.3B$2.5B$3.8B$5.0BPre-Seed · 2012-11-14 Raised $575K (real) Modeled valuation $8.8M (est)Pre-Seed2012Series A · 2012-11-14 Raised $9.3M (real) Modeled valuation $93M (est)Series A2012Series B · 2016-02-18 Raised $29M (real) Modeled valuation $321M (est)Series B2016Series B · 2016-02-18 Raised $29M (real) Modeled valuation $321M (est)Series B2016Series B · 2016-02-18 Raised $24M (real) Modeled valuation $263M (est)Series B2016Series C · 2016-02-18 Raised $41M (real) Modeled valuation $462M (est)Series C2016Series B · 2018-08-22 Raised $21M (real) Modeled valuation $227M (est)Series B2018Seed · 2018-08-22 Raised $1.8M (real) Modeled valuation $22M (est)Seed2018Series C · 2018-08-22 Raised $45M (real) Modeled valuation $511M (est)Series C2018Series D+ · 2023-06-30 Raised $271M (real) Modeled valuation $2.5B (est)Series D+2023+$9.3M+$29M+$29M+$24M+$41M+$21M+$1.8M+$45M+$271MCumulative $472M

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
Pre-Seed$575K · 2012
Series A$9.3M · 2012no Seed on file
Series B$29.2M · 2016
Series B extension$29.2M · 2016
Series B extension$24.0M · 2016
Series C$40.8M · 2016
Bridge · Series C-stage$20.7M · 2018smaller follow-on
Bridge · Series C-stage$1.8M · 2018smaller follow-on
Series C extension$45.1M · 2018
Series D+$271.2M · 2023

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$2.5B
Base estimate est.
$1.6B
Conservative case
$3.8B
Upside case
$2.3B
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.

Pre-Seed · modeled $8.8M · 2012-11-142012Series A · modeled $92.6M · 2012-11-14Series B · modeled $320.6M · 2016-02-18Series B · modeled $320.6M · 2016-02-18Series B · modeled $263.2M · 2016-02-18Series C · modeled $461.8M · 2016-02-18Series B · modeled $227.0M · 2018-08-22Seed · modeled $21.8M · 2018-08-22Series C · modeled $510.6M · 2018-08-22Series D+ · modeled $2.5B · 2023-06-302023
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
3.0 yr
Elapsed time used
3.0 yr actual, capped for stale marks
manufacturing
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
14 mo
Avg between rounds
$33.7M/yr
Capital velocity
13.6 yr
On record since
2012
First round
10
Rounds on file
How it compares to the market

Benchmarked against 3256 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) 177× above median
This company$357.7M
Sector median$2.0M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 2.5× above median
This company$271.2M
Sector median$108.6M
Modeled value — vs sector median (estimate, all stages) 205× above median
This company$2.5B
Sector median$12.0M

Raised more than 99% of sector peers (real $). Modeled value above 99% 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 #3 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)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)Mullen Automotive Inc. · Series D+ Raised $181.7M · modeled $1.3B (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 $937.1M (est)Amyris, Inc. · Series D+ Raised $1.6B · modeled $77.1M (est)Newlight Technologies, Inc. (this company) Raised $357.7M · modeled $2.5B (est)Newlight Technologies, 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. this companySeries 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.Series 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$937.1M0.53×
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.
Pre-Seed$575K2012-11-14$3.2M$8.8M85%
Series A$9.3M2012-11-14$42.1M$92.6M85%
Series B$29.2M2016-02-18$162.4M$320.6M85%
Series B$29.2M2016-02-18$162.4M$320.6M85%
Series B$24.0M2016-02-18$133.3M$263.2M85%
Series C$40.8M2016-02-18$272.1M$461.8M90%
Series B$20.7M2018-08-22$115.0M$227.0M90%
Seed$1.8M2018-08-22$8.9M$21.8M90%
Series C$45.1M2018-08-22$300.9M$510.6M90%
Series D+$271.2M2023-06-30$2.3B$2.5B90%
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. Pre-Seed$575K2012-11-14
    • First recorded raise — entered as Pre-Seed.
    • 8 investors on this round.
  2. Series A$9.3M2012-11-14
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 16.1× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 60 investors on this round.
  3. Series B$29.2M2016-02-18
    • Raised again after 39 mo — slower than the ~12 mo sector norm.
    • Round 3.2× larger than the prior — scaling up.
    • 125 investors on this round.
  4. Series B$29.2M2016-02-18
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 125 investors on this round.
  5. Series B$24.0M2016-02-18
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 120 investors on this round.
  6. Series C$40.8M2016-02-18
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.7× larger than the prior — scaling up.
    • 173 investors on this round.
  7. Series B$20.7M2018-08-22
    • Raised again after 30 mo — slower than the ~12 mo sector norm.
    • Round 2.0× smaller than the prior — bridge or down round.
    • 23 investors on this round.
  8. Seed$1.8M2018-08-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 11.7× smaller than the prior — bridge or down round.
    • 5 investors on this round.
  9. Series C$45.1M2018-08-22
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 25.4× larger than the prior — scaling up.
    • 114 investors on this round.
  10. Series D+$271.2M2023-06-30
    • Raised again after 58 mo — slower than the ~12 mo sector norm.
    • Round 6.0× larger than the prior — scaling up.
    • 172 investors on this round.
Intelligence
2024 ~Q3
Modeled next raise · ~14mo cadence
$813.7M
Modeled next size est.range $528.9M$1.3B
6.0×
Last step-up
$33.7M/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
Eric Olson6 other2023-06
John Daly4 other2023-06
Cornelis Linse1 other2023-06
Evan Creelman2016-02
Evan R. Creelman2012-11
Jim R. Lunt2012-11
Kenton D. Kimmel2012-11
Kenton Kimmel2016-02
Markus D. Herrema2012-11
Markus Herrema2016-02
May Liew2023-06
Registry & provenance

Newlight Technologies, 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
1566740
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
NotCo LtdManufacturingSeries D+$358.0M$2.5Bsame sector · same stage
Lotus Technology Inc.ManufacturingSeries D+$350.0M$2.9Bsame sector · same stage
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Ball CorpManufacturingSeries D+$400.0M$4.6Bsame sector · same stage
Johnsondiversey IncManufacturingSeries D+$400.0M$4.6Bsame sector · same stage
Elevance Renewable Sciences, Inc.ManufacturingSeries D+$319.9M$208.4Msame sector · same stage
PEM Holding Co.ManufacturingSeries D+$319.6M$706.6Msame 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
Light, LLCManufacturingPre-Seed$9.9M88%
LightManufacturing, Inc.ManufacturingSeed$5.1M88%
Arborlight Inc.ManufacturingSeed$9.2M87%
Mezlight, LLCManufacturingSeed$1.7M86%
Advanced Lighting Technologies, LLCManufacturingSeries D+$148.5M85%
Lightpath Technologies IncManufacturingSeries B$35.4M85%
Solais Lighting Holdings, LLCManufacturingSeries A$53.2M84%
U.S. Lighting Group, Inc.ManufacturingSeries C$3.8M84%
Frequently asked
How much funding has Newlight Technologies, Inc. raised?
Newlight Technologies, Inc. has raised approximately $357.7M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Newlight Technologies, Inc.'s estimated valuation?
Provath's modeled valuation for Newlight Technologies, Inc. is approximately $2.5B (modeled range $1.6B–$3.8B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Newlight Technologies, Inc. at?
Newlight Technologies, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Fri Jun 30.
What does Newlight Technologies, Inc. do and where is it based?
Newlight Technologies, Inc. operates in the Manufacturing sector, based in Huntington Beach.
Explore related

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