Obvious Ventures
Assembly Line
Zanskar Raises $30 Million to Accelerate Discovery of Geothermal Energy for Clean and Affordable Power
Zanskar Geothermal & Minerals, the leading geothermal exploration company, announced the closing of $30M in new funding led by Obvious Ventures. The round, which includes participation by previous investors such as Munich Re Ventures, Union Square Ventures, Lowercarbon Capital, Safar Partners, and First Star Ventures, as well as newcomer Clearvision Ventures, enables Zanskar to scale its AI-led exploration technology to develop new geothermal resources. Zanskar will deploy the funds to accelerate technology development and advance its portfolio of greenfield power projects to serve new partnerships
Since its last fundraise in 2022, Zanskar has established itself as a leader in geothermal discovery. Public accomplishments include winning multiple contracts with the United States Department of Defense’s Defense Innovation Unit to explore new geothermal resources and advance their mission of energy resilience. In addition, its field data collection program collects more low-cost, early-stage field data every three months than what industry and academia combined did over the prior ten years. This early-stage field data program, in addition to rapidly iterating model predictions, enabled Zanskar to make more greenfield geothermal discoveries than the industry made over the prior ten years combined.
LightShip Series B
We are excited to share that we have closed a $34 million Series B financing to accelerate production and bring the L1 to your driveways. This round was co-led by Obvious Ventures and Prelude Ventures and joined by Allegis Capital and global RV manufacturer THOR Industries and its investment partner TechNexus Venture Collaborative. Returning investors Congruent Ventures, HyperGuap, and Alumni Ventures also joined the round.
Closing this fundraise ushers in a new chapter as we build the manufacturing system and supply chain to bring the L1 to production later this year. As great things often come in twos, we are also moving into our new pilot production facility in Broomfield, Colorado later this week.