Companies · Manufacturing

Tolko Industries Ltd.

VERNON · Manufacturing

Diligence memoA one-page analyst read on Tolko Industries Ltd. — recommendation, valuation, rhythm, risks.
$136.7M
Total raised · real
4
Rounds
0.4×
Latest step-up
Top 4%
Sector rank · raised
Series C
Latest stage · inferred · Fri Feb 21 2020 00:00:00 GMT+0000 (Coordinated Universal Time)

Tolko Industries Ltd. looks under-valued against its niche peers and is dormant 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.

Under-valued
  • Modeled value is 0.35× the median modeled value of Series C Manufacturing companies in 2019–2021 (19 peers) — value vs value, same stage and era.
Dormant
  • Last raise 6.4 yr ago; this sector typically re-raises about every 12 months.
  • Silent for over 3× the sector's normal cadence.
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

Tolko Industries Ltd. is one of 3257 Manufacturing companies tracked from VERNON. By capital raised it ranks among the largest (ahead of 97% 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
11
Investors (latest)
2020-02-21
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$250M$500M$750M$1.0BSeries B · 2014-12-08 Raised $38M (real) Modeled valuation $411M (est)$38M$411MSeries B2014Series C · 2017-10-18 Raised $45M (real) Modeled valuation $509M (est)$45M$509MSeries C2017Series C · 2019-12-09 Raised $38M (real) Modeled valuation $424M (est)$38M$424MSeries C2019Series C · 2020-02-21 Raised $17M (real) Modeled valuation $189M (est)$17M$189MSeries C2020+$45M+$38M+$17MCumulative $137M

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 B$37.5M · 2014
Series C$45.0M · 2017
Series C extension$37.5M · 2019
Series C extension$16.7M · 2020

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 40%.

Modeled valuation trajectory
$188.6M
Base estimate est.
$65.7M
Conservative case
$496.9M
Upside case
$111.1M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the manufacturing sector profile. Directional, not a quoted figure.

Series B · modeled $411.2M · 2014-12-082014Series C · modeled $509.2M · 2017-10-18Series C · modeled $424.3M · 2019-12-09Series C · modeled $188.6M · 2020-02-212020
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
80%
Survival probability
59% low · 92% high
1.14×/yr
Annual markup
1.30×/yr upside case
6.0 yr
Elapsed time used
6.4 yr actual, capped for stale marks
manufacturing
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
21 mo
Avg between rounds
$26.3M/yr
Capital velocity
11.6 yr
On record since
2014
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) 68× above median
This company$136.7M
Sector median$2.0M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.4× of median
This company$16.7M
Sector median$47.3M
Modeled value — vs sector median (estimate, all stages) 16× above median
This company$188.6M
Sector median$12.0M

Raised more than 97% of sector peers (real $). Modeled value above 91% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 #15 of 19.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Pelican TopCo LLC · Series C Raised $91.2M · modeled $1.0B (est)ICM Holdco I Corp. · Series C Raised $93.4M · modeled $1.0B (est)Shaw Acquisitions Holdings, LLC · Series C Raised $75.9M · modeled $741.1M (est)GCP HGR Holdings, Inc. · Series C Raised $67.2M · modeled $672.0M (est)Sambazon Inc · Series C Raised $116.1M · modeled $660.3M (est)Madison Industries Holdings LLC · Series C Raised $57.0M · modeled $644.6M (est)Particle Works, Inc. · Series C Raised $50.4M · modeled $569.7M (est)Loop Industries, Inc. · Series C Raised $62.7M · modeled $558.9M (est)Renmatix, Inc. · Series C Raised $141.3M · modeled $550.4M (est)Fast Radius, Inc. · Series C Raised $56.8M · modeled $543.4M (est)Innopak Holdings, LLC · Series C Raised $47.4M · modeled $536.5M (est)S.P. Richards Co · Series C Raised $55.0M · modeled $486.6M (est)Tolko Industries Ltd. (this company) Raised $136.7M · modeled $188.6M (est)Tolko Industries Ltd.
CompanyStageRaised · realValue · estvs peer med.
Pelican TopCo LLCSeries C$91.2M$1.0B1.90×
ICM Holdco I Corp.Series C$93.4M$1.0B1.86×
Shaw Acquisitions Holdings, LLCSeries C$75.9M$741.1M1.36×
GCP HGR Holdings, Inc.Series C$67.2M$672.0M1.24×
Sambazon IncSeries C$116.1M$660.3M1.22×
Madison Industries Holdings LLCSeries C$57.0M$644.6M1.19×
Particle Works, Inc.Series C$50.4M$569.7M1.05×
Loop Industries, Inc.Series C$62.7M$558.9M1.03×
Renmatix, Inc.Series C$141.3M$550.4M1.01×
Fast Radius, Inc.Series C$56.8M$543.4M1.00×
Innopak Holdings, LLCSeries C$47.4M$536.5M0.99×
S.P. Richards CoSeries C$55.0M$486.6M0.90×
Tolko Industries Ltd. this companySeries C$136.7M$188.6M0.35×
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 B$37.5M2014-12-08$208.3M$411.2M85%
Series C$45.0M2017-10-18$300.0M$509.2M90%
Series C$37.5M2019-12-09$250.0M$424.3M90%
Series C$16.7M2020-02-21$111.1M$188.6M90%
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 B$37.5M2014-12-08
    • First recorded raise — entered as Series B.
    • 3 investors on this round.
  2. Series C$45.0M2017-10-18
    • Raised again after 34 mo — slower than the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • 6 investors on this round.
  3. Series C$37.5M2019-12-09
    • Raised again after 26 mo — slower than the ~12 mo sector norm.
    • Round roughly the size of the prior one.
    • 11 investors on this round.
  4. Series C$16.7M2020-02-21
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round 2.3× smaller than the prior — bridge or down round.
    • 11 investors on this round.
Intelligence
2021 ~Q4
Modeled next raise · ~21mo cadence
$16.7M
Modeled next size est.range $16.7M$26.7M
0.4×
Last step-up
$26.3M/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
Bob Albert Fleet2019-12
Bob Nelson Fleet2017-10
Dathan Nelson McLean2017-10
Douglas Alexander Wilkes2017-10
James Albert Moore2017-10
James Allan Thorlakson2014-12
James Bradley Thorlakson2014-12
Jeffrey Nelson Wagner2017-10
Jim Albert Baskerville2019-12
Jim Ewart Baskerville2014-12
Jim Nelson Baskerville2017-10
John Ewart Thorlakson2014-12
Jonathan Peter Whitworth2019-12
Kenneth John Thorlakson2019-12
Kevin Peter Jewett2019-12
Mike Ewart Harkies2014-12
Mike Nelson Harkies2017-10
Pino Nelson Pucci2017-10
Pino Peter Pucci2019-12
Robert Ewart Fleet2014-12
Sandy Ewart Kersey2014-12
Sandy John Kersey2019-12
Sandy Nelson Kersey2017-10
Tanya Ewart Wick2014-12
Registry & provenance

Tolko Industries Ltd. 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
1504489
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
Puris Proteins, LLCManufacturingSeries C$137.5M$282.9Msame sector · same stage
American Trailer Works IncManufacturingSeries C$113.5M$253.6Msame sector · same stage
Funko Acquisition Holdings, L.L.C.ManufacturingSeries C$107.2M$282.9Msame sector · same stage
Oxane Materials IncManufacturingSeries C$178.3M$61.6Msame sector · same stage
Malt-O-Meal CoManufacturingSeries C$100.0M$282.9Msame sector · same stage
Monarch Quantum, Inc.ManufacturingSeries C$73.6M$289.6Msame sector · same stage
Parkway Holdings, LlcManufacturingSeries C$66.2M$113.2Msame sector · same stage
Inductance Energy CorpManufacturingSeries C$61.0M$113.2Msame 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
Sseko Designs, Inc.ManufacturingSeed$15.3M84%
Hongrui Innovation Holding Group ltdManufacturingSeries A$16.6M82%
MEGNA ToFu MANUFACTURING COMPANY, INC.ManufacturingPre-Seed$10.0M82%
BNNano, Inc.ManufacturingPre-Seed$3.7M82%
Okeanos Holdings, LlcManufacturingSeries A$9.1M82%
Sonmundo, Inc.ManufacturingSeed$6.1M81%
Cenveo Enterprises, Inc.ManufacturingSeries B$264.6M81%
Momo Baby, Inc.ManufacturingPre-Seed$3.5M81%
Frequently asked
How much funding has Tolko Industries Ltd. raised?
Tolko Industries Ltd. has raised approximately $136.7M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Tolko Industries Ltd.'s estimated valuation?
Provath's modeled valuation for Tolko Industries Ltd. is approximately $188.6M (modeled range $65.7M–$496.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Tolko Industries Ltd. at?
Tolko Industries Ltd.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Feb 21.
What does Tolko Industries Ltd. do and where is it based?
Tolko Industries Ltd. operates in the Manufacturing sector, based in VERNON.
Explore related

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

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