Led · Series C · Sep 2022

VavaCars operates an online trading platform for buying and selling used cars. Launched in April 2019 by CEO Lawrence Merritt and based in Istanbul, it resells cars both to dealers through a proprietary auction platform and directly to consumers. VavaCars works in close partnership with fuel retailer Petrol Ofisi and offers consumers fully inspected, reconditioned vehicles with free home delivery. Customer protections include a 14-day money-back guarantee and a 3-month warranty. The company generated more than $500M in revenue and sold over 20,000 cars in the first half of 2022. Following its $37M Series C, VavaCars plans to use the funding to consolidate its market-leading position in Turkey.

Led · Series C · Jul 2022

FlexGen Power Systems is a Durham, NC–based provider of energy storage solutions and software technology. The company offers HybridOS software that integrates with any hardware vendor and with both traditional and renewable power sources. Its analytics and AI-driven insights help energy storage owners deploy diverse power market strategies and integrate various generation forms. FlexGen positions its offerings to enhance grid stability and increase economic returns for customers. Led by CEO Kelcy Pegler, the company is focused on scaling operations and strengthening its technology stack. It intends to use new funding to expand operations, bolster technology offerings, and meet rising global demand for reliable, scalable energy storage solutions. FlexGen designs and integrates energy storage systems and operates a proprietary energy management software platform called HybridOS. HybridOS enables energy storage owners to deploy various power market strategies and to combine storage solutions with any form of generation. The company provides the software and technological integration needed to address intermittency and reliability challenges associated with renewable power. Led by CEO Kelcy Pegler, FlexGen plans to use new funding to further solidify its energy storage integration capabilities and to support execution of a large pipeline of projects across multiple regions. Since its founding in 2009, FlexGen has installed over 3 GWh of energy storage systems across the U.S. for utility, microgrid, and commercial & industrial customers.