Company Updates

Paladin Power Company Update

In this company update, we look at Paladin Power announcing a new crowdfunding round on Wefunder at a $67M valuation, reflecting on the company's strong revenue growth and partnerships.

Funding Round Details

Paladin Power logo
Company: Paladin Power
Security Type: Equity - Common
Valuation: $67,000,000
Min Investment: $500
Platform: Wefunder
Deadline: Apr 29, 2024
View Deal
  • Paladin Power has opened a new round on Wefunder at a valuation of $67M, up ~248% from its previous crowdfunding round of $19.25M.
  • Paladin Power was founded in May 2022 and raised $5M in crowdfunding that same year.
  • According to the company, that raise was to “achieve product-market fit” and “prove there was sufficient demand for our technology in order to justify the required CapEx to build out manufacturing capacity.” 
  • At the end of 2022, the company had $240M in potential pipeline, had collected $200k in deposits against future deliverables, and signed multiple manufacturing agreements. 
  • Having officially launched the product in 2023, the company has recorded $1.3M in lifetime sales. 
  • However, the company does not mention what happened to this $240M in potential revenue that it discussed in its June 2023 Shareholder Update.
  • The company is averaging a monthly revenue of $206,690, giving the company a 2024 run rate of ~$2.5M (not guaranteed of course, but just a rough estimate). 
  • The company also signed a Manufacturing Service Agreement with JABIL, a top-two global manufacturer, which will help continue to build out Paladin’s manufacturing capabilities.
  • Paladin also began working with a national distributor, CED Greentech, in Q1 2024, which could continue to push the company’s revenue even higher. 
  • The company signed an LOI with Powerfund to “purchase $30M in product for end users”. However, this agreement does not appear to be binding.

Teddy Lyons
About: Teddy Lyons

Teddy comes to KingsCrowd with a background in venture capital and investment banking. He worked at Deutsche Bank as an Investment Banking Analyst in the Technology, Media, and Telecommunications group. Prior to that, he served as an Associate at Alchemi Capital, a venture capital firm in Boston that invests in early-stage technology companies. Teddy holds a degree in Economics and Psychology from Wesleyan University, where he was captain of the varsity soccer team. He also holds a M.S. in Finance from Boston College.

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