Upstart Power

Southborough, MA · Founded 2017 · Privately Held (backing)

Manufacturer of solid oxide fuel cell generators intended to make distributed electricity generation a reality. Upstart Power is based in Southborough, MA and was founded in 2017. It is valued at about $46.5 million as of Oct 2026, set by institutional fund marks. It has raised $70.7 million across 6 recorded rounds; the latest was a $2.1 million seed round in Dec 2024.

PMV mark · valuation
$46.5M
Oct 2026
Priced at
—
Total raised
$70.7M
Last round
Seed Round
Dec 2024
What is Upstart Power worth?
$46.5MPrivateMarketView mark · Oct 2026

Reported valuation; nothing comparable since.

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The prices on Upstart Power
  • ·3 fund marks: filer, period, implied $/share
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Valuation timeline

0 priced rounds · 32 daily marks since · Sep 2026 – Oct 2026
▮▮
Markrounds hold their value until the next priced eventMark, today
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Upstart Power funding history

6 rounds
DateRoundRaisedPost-money
Dec 2024Seed Round$2.1M▮
Jul 2024Early Stage VC$22.5M▮
Oct 2022Early Stage VC$16.9M▮
Dec 2020Early Stage VC$15.5M▮
Jul 2019Seed Round$1.0M▮
Aug 2018Seed Round$472K▮
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Upstart Power valuation

Upstart Power is valued at approximately $46.5 million as of Oct 2026. The figure is set by institutional fund marks.

How much has Upstart Power raised?

Upstart Power has raised $70.7 million across 6 recorded rounds since 2018. The largest was a $472,000 seed round in Aug 2018; the most recent was a $2.1 million seed round in Dec 2024.

Upstart Power has filed 7 Form Ds with the SEC since 2018, most recently in Dec 2024 ($2.1 million sold to 5 investors).

Institutional holders and vehicles

1 SEC-registered fund reported 3 fair-value marks on Upstart Power for Jan 2026, in their N-PORT filings. Filer-level marks and implied per-share values are available to Pro members.

How Upstart Power's valuation is determined

Private company valuations aren’t quoted on an exchange — they’re established in moments: a priced funding round sets a post-money valuation, secondary trades print at a price per share, and SEC-registered funds holding the stock report fair-value marks in their N-PORT filings.

For Upstart Power, the most current credible signal sets the number and the older ones confirm it: a live secondary-market price first, then three or more recent prints, then institutional fund marks, and otherwise the last priced round, which never decays. The valuation is the last round’s post-money moved by the price change since that round, so no share count is assumed. Today it is set by institutional fund marks. Question about this number? Full methodology →

Frequently asked about Upstart Power

What is Upstart Power worth?
Upstart Power is valued at $46.5M as of Oct 2026. Reported valuation; nothing comparable since.
How much has Upstart Power raised?
Upstart Power has raised $70.7M in total funding across 6 recorded rounds.
When did Upstart Power last raise?
Upstart Power last raised in Dec 2024 (Seed Round), raising $2.1M.