1. Stem Lands $80 Million to Fuel Its Growing Behind-the-Meter Battery Business

    Stem Lands $80 Million to Fuel Its Growing Behind-the-Meter Battery Business

    Behind-the-meter battery startup Stem has raised $80 million in a Series D round, with three new investors -- including one that’s helping bring the company’s lithium-ion battery systems to a new international market. The oversubscribed round was led by growth equity firm Activate Capital. It was joined by Singapore-based investment firm Temasek and the Ontario Teachers’ Pension Plan, which manages about CAD $180 billion Canadian (USD $145 billion) in Canada’s largest single-profession pension fund. 

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  1. Quotes

    1. We are growing very very fast, and I would say, exceeding in a variety of areas.
    2. We're focused on growth capital, both expanding from a geographic footprint standpoint, and also investing in the team.
    3. I think you have to be relevant by getting out of a single market or a single country.
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