Startup · United States
Panthalassa
HQ Portland, Oregon51-200 employeesUpdated
We're harnessing renewable energy in the open ocean and delivering it around the world.
Funding5 rounds · $140M
- Equity raised
- $140M
- Latest
- UndisclosedStrategic · Aug 13, 2026
- Last valuation
- $1.00B?Basis not stated · Series B · May 4, 2026
| Announced | Stage | Amount | Valuation | Lead investors | Other investors | Confidence |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | Strategic | Undisclosed | — | NAVER | — | Reported |
| May 4, 2026 | Series B | $140M | $1.00B? | — | Founders Fund, Gigascale Capital, Lowercarbon Capital, Portland Seed Fund, SciFi VC | Confirmed |
| Jun 6, 2025 | Convertible | Undisclosed | — | — | — | Speculative |
| Sep 13, 2024 | Undisclosed | Undisclosed | — | — | — | Speculative |
| Jan 24, 2022 | Series A | Undisclosed | — | — | — | Speculative |
- StrategicLed by NAVERUndisclosedAug 13, 2026
- Series BValuation $1.00B?Confirmed$140MMay 4, 2026
- ConvertibleSpeculativeUndisclosedJun 6, 2025
- UndisclosedSpeculativeUndisclosedSep 13, 2024
- Series ASpeculativeUndisclosedJan 24, 2022
Raised counts equity rounds; debt, secondary sales and grants are totaled separately. Amounts in other currencies are converted at the announcement month's average rate. A ~ marks an estimated or converted amount.
Capabilities1
| Technology | Role | Maturity | TRL | Notes | Confidence |
|---|---|---|---|---|---|
| Power, grids and energy storage | Developer | — | — | classify_sectors run 37, haiku, taxonomy 2026-10-18b: Harnesses renewable energy in the open ocean and delivers it around the world; no defense use is stated. | Reported |
- Developerclassify_sectors run 37, haiku, taxonomy 2026-10-18b: Harnesses renewable energy in the open ocean and delivers it around the world; no defense use is stated.—Reported
Maturity and TRL describe this organization's work; the field-wide maturity is on each technology's page.
Sources9
Profile3
- 1
Sixth-Domain · Supports Organization · country, Organization · kind
“{"country": "USA", "hq_iso2": "US", "id": "d6b30866-6308-4384-b7c8-f134e3c986a0"}”
- 2
LinkedIn · Supports Organization · employee range, Organization · hq city, Organization · hq region
“employee_range: 51-200 (profile: 51-200 employees)”
- 3
Panthalassa · Supports Organization · description, Organization · linkedin url, Organization · name, Organization · website
“We're harnessing renewable energy in the open ocean and delivering it around the world. Engineered in Portland, Oregon.”
Funding6
- 4
DatacenterDynamics · Aug 14, 2026 · Supports Funding round · amount, Organization · ownership
“The exact amount invested was not disclosed”
- 5
Business Wire · May 5, 2026 · Supports Funding round · amount
“today announced $140 million in Series B financing led by Peter Thiel”
- 6
OregonLive · May 5, 2026 · Supports Funding round · post money valuation usd
“values the company at $1 billion”
- 7
GeekWire · May 4, 2026 · Supports Funding round · amount
“Returning investors include Founders Fund, Gigascale Capital, Lowercarbon Capital, Unless and WovenEarth”
- 8
CB Insights · Supports Funding round
“1/24/2022 Series A”
- 9
PitchBook · Supports Funding round
“Later Stage VC | 18-Feb-2022 | $60M”
Each fact on this page is attached to the sources that support it. Archived copies are linked when we keep one.