Will Turntide Technologies Stock Have an IPO This Year?
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Table of Contents
Recent Turntide Technologies News
08/04/2023: ‘Tidal Wave’ of Down Rounds Hits Startups
06/27/2023: BMW breaks ground on $700M plant with TT HVAC Motors
06/15/2022: TT Exceeds $1 Billion Valuation With $80 Million Raise
Older news…
About Turntide Technologies
Turntide Technologies is a next-generation electric motor manufacturer. The company has reimagined century-old standard motor technology to be more efficient using intelligent software and innovative design.
Software-controlled motors, or switch reluctance motors, use precise energy pulses instead of a constant flow of electricity to reduce power consumption.
By targeting energy-intensive industries such as transportation, agriculture, and building maintenance, Turntide Technologies helps to decarbonize the planet and empowers companies to reach their carbon emission reduction goals while reducing costs.
Use cases include retrofitting commercial HVAC systems for cloud computing centers, intelligent barn systems for animal farming, and electrification and drivetrain components for commercial vehicles.
Half of the electricity in the entire world, worth over a trillion dollars a year, is consumed today by electric motors. They are in every fan, pump, refrigeration, electric vehicle, and just about everything that moves in civilization. What’s incredible is that 98% of them today are based on an 1888 technology invented by Nikola Tesla called an AC induction motor. — Ryan Morris, CEO of Turntide Technologies Inc.
The company was founded as Software Motor Company in 2013 but rebranded to Turntide Technologies in 2020.
It received seed funding from the National Science Foundation in 2016 and the Wells Fargo Innovation Incubator, co-administered with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) in 2017.
Turntide Technologies is headquartered in Sunnyvale, CA.
Here’s a video explaining how more efficient motors can reduce energy consumption and why it’s taken so long for these efficiencies to be commercialized.
Ownership
Who owns Turntide Technologies?
The latest funding round was completed in June 2022, raising $80 million. This followed an $80 million round and a $225 million convertible note completed in 2021.
The total funding to date is $485 million.
Prominent venture capital investors include Amazon Climate Pledge Fund, BMW iVentures, Bill Gates’s Breakthrough Energy Ventures, Fifth Wall, JLL Spark, Keyframe Capital, Meson Capital, Tony Fadell’s (iPod, Nest) Future Shape, and Robert Downey Jr.’s FootPrint Coalition Ventures.
CEO Ryan Morris is also the founder and President of Meson Capital. In 2013, Meson Capital acquired the technology, initially developed at the Illinois Institute of Technology.
Funding Rounds
| Round | Date | Est. Valuation | Raise Amount | Price |
|---|---|---|---|---|
| Series C | 06/14/22 | $1.81B | $305.00M | $ 4.28 |
| Series B | 11/16/21 | $335.00M | $80.00M | $ 1.00 |
| Series A3 | 10/13/20 | $178.68M | $58.68M | $ 0.71 |
| Series A2 | 01/27/19 | $92.52M | $32.52M | $ 0.66 |
| Series A1 | 10/23/17 | $50.97M | $10.97M | $ 0.52 |
| Accelerator/Incubator | 01/10/17 | 0 | $250.00K | $ - |
| Series A | 03/09/14 | $650.00K | $150.00K | $ 0.13 |
| Source: Caplight |
Valuation
The June 2022 $80 million funding round minted Turntide Technologies an official unicorn.
The Turntide Technologies valuation is about $1 billion. However, reporting by The Information in August 2023 suggests the next funding round could decrease the valuation by 80%.
Price indications on the Hiive marketplace confirm disinterest in private shares of the startup.
Turntide Technologies IPO Date
The Turntide Technologies IPO date is currently unknown.
The company is still a maturing startup, even at a $1 billion valuation. Turntide Technologies believes 95% of the world’s motors can be made more efficient with its technology, starting with the most energy-intensive industries.
The author expects additional private funding rounds to fund growth and increase its private valuation before an IPO.
We’ll get a better sense of when the Turntide Technologies IPO will be when a new funding round is announced, or the company indicates it is taking steps toward an IPO.
Bookmark this page for the latest developments.
Turntide Technologies Stock Price
The Turntide Technologies stock price does not exist yet because the company is private.
The June 2022 Series C funding round tool place at $4.28 per share. However, the stock prices is likely now close to $1-$1.50, according to pre-IPO data.
How to Invest in Turntide Technologies Stock
Since Turntide Technologies is a private company, it is challenging to become an equity owner today.
However, you can take action to improve your chances of early equity ownership or acquire shares in the IPO.
Accredited investors may have an easier time via pre-IPO investing platforms.
1. Access Turntide Technologies stock via Pre-IPO investing platforms
Investors can monitor pre-IPO investing platforms such as Hiive, EquityZen,, Forge Global, and Linqto for share availability.
Expect to pay at least a $10,000 investment minimum for pre-IPO access.
Pre-IPO investing platforms empower users to indicate interest in companies they wish to invest in.
Some investment opportunities may be available via diversified funds. Others may be direct investments.
When enough investors indicate interest in a company such as Turntide Technologies, the platforms reach out to equity holders to try and acquire shares.
The SEC requires pre-IPO investors to be accredited, meaning a net worth above $1 million (not including primary residence) or an income above $200,000 (or $300,000 with a spouse).
Non-accredited retail investors can bypass the accreditation requirement for pre-IPO investing by owning venture capital funds such as the Fundrise Innovation Fund ($10 minimum).
However, you cannot select individual pre-IPO companies, and Turntide Technologies is not a holding.
As companies mature, gain more shareholders, and delay their IPO due to macro conditions, more equity holders may seek liquidation before the IPO.
Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
Check out our list of top pre-IPO investing platforms for current share availability.
2. Buy during Turntide Technologies IPO through a participating broker
2022 was a slow year for IPOs. Turntide Technologies conducted a private funding round in June 2022 to support operations and growth.
At a $1 billion valuation, Turntide Technologies may raise an additional private round to up its valuation, considering the market potential for its products.
2023 looks to be a more promising year for IPOs. But Turntide Technologies still seems to be a few years away from a public offering.
IPO investors may find opportunities to invest during the IPO when it arrives.
IPO access has become more accessible to retail investors in the past decade.
The following online brokers and smartphone apps give customers free access to IPO investing, even with small account balances:
Brokers will negotiate exclusive IPO share allocations for retail investors.
Access to specific high-demand IPOs may be limited by which brokerage accounts you have and what broker gets exclusive access.
TradeStation has the longest track record of accessing more than 200 IPOs and secondary offerings via its partnership with ClickIPO.
But Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.
Read the S-1 filings to find mentions of these online brokers to find opportunities.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
3. Buy the Turntide tock after the IPO
Though waiting for the IPO requires patience, there are advantages to waiting for the stock to become publicly traded before owning.
First of all, the IPO allows investors to review financials. Pre-IPO investing has limited financials available.
Second, IPO stock prices typically rise with high-demand companies. You can benefit if you’re in early and sell when the price overheats.
Many IPOs start with an immediate price increase (“the pop”). Then the stock falls once quarterly earnings reports become available.
In 2021, for example, both Rivian and Robinhood became high-flying IPO stocks. But six months after the IPO, both stocks were more than 80% below their price peak.
Stock price declines after IPOs can be excellent entry points.
Avoid buying overvalued shares immediately after the IPO. Shares often fall after the IPO due to lockup expirations and quarterly earnings disappointments.
However, the most disruptive companies will be higher in a decade. Patience pays.
Frequently Asked Questions (FAQs)
Is Turntide Technologies Publicly Traded?
No. Turntide Technologies is not publicly traded. It is private.
Can You Access Turntide Technologies stock via Pre-IPO Marketplaces?
Yes. The author has seen evidence of Turntide Technologies stock availability on prominent pre-IPO investing platforms like Hiive.
What is the Turntide Technologies Stock Ticker?
There is no Turntide Technologies stock symbol yet because it is a private company. It may never go public.
Here are a few Turntide Technologies ticker symbol suggestions that are available in the U.S.:
- TIDE
- TTDE
Where is Turntide Technologies IPO S-1 Filing?
Turntide Technologies has yet to release an S-1 filing to the public, and there is no evidence of a confidential S-1 filing.
We do not expect a Turntide Technologies IPO for at least 18-24 months.
When the company releases the S-1 filing to investors, we’ll link to and embed the document on this web page.
In the meantime, you can check out the most recent S-1 filings in our S-1 filings feed.
News Archive
04/05/2021: This startup is trying to save the planet, one motor at a time
03/03/2021: Robert Downey Jr. and Bill Gates fund electric motor company
09/17/2020: Amazon names first recipients of its $2 billion Climate Pledge Fund
Conclusion
Investors become interested in buying companies riding extraordinary macroeconomic trends (carbon reduction).
However, acquiring shares in a company like Turntide Technologies before the IPO can prove difficult for retail investors, especially non-accredited ones.
Pre-IPO investing platforms have opened more opportunities for retail investors.
But private equity investing is still mostly reserved for accredited investors.
Investors will likely find it challenging to acquire shares before an IPO.
But if you are interested in pursuing Turntide Technologies stock before the IPO, maintain reasonable expectations. Invest in pre-IPO and IPO companies at your own risk.
Read more: Green Startups in the IPO Pipeline
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
Risk Statement: Investing in IPOs and pre-IPO startups involves significant risk. Do not invest in companies based solely on what is included in this article. Only invest in IPOs and pre-IPO companies with money you can afford to lose. Access IPOs is for informational purposes only. Mentions of specific investments should not be construed as financial advice. Conduct personalized research and consider consulting with an investment advisor before investing.
