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Stem Expands Series D By $26 Million, Gains Cad $200m Financing Fund

by greentechmedia.com posted 3weeks ago 13 views
C&I storage company Stem has come back for more money after closing an oversubscribed Series D in January. The company has added $26 million, led by BNP Paribas and Magnesium Capital, bringing the Series D to $106 million. “We looked at it as a board, and there were some great additional partners that we could include in the round,” said CEO John Carrington. “It was just prudent to add the capital.” Additionally, the Ontario Teachers’ Pension Plan followed up its January investment with a CAD $200 million financing facility (USD $153 million) to support Stem’s efforts in the province.

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