About Shell Ventures
Shell Ventures is a venture capital firm founded in 1996. It is primarily based out of The Hague, Netherlands. As of Feb 2026, Shell Ventures is an active investor, having invested in 52 companies, with 2 new investments in the last 12 months. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Energy Tech. Most recently it participated in the $***** Series B round of WtE-As Overall, Shell Ventures portfolio has seen 2 unicorns, 2 IPOs and 14 acquisitions including key companies like Aurora, Cazoo and Palmetto. A lot of funds co-invest with Shell Ventures, with names like Evergy Ventures sharing a substantial percentage of its portfolio. Shell Ventures has team of 20 people including 4 partners.Key Metrics
Shell Ventures' List of Top Investments
Shell Ventures has a portfolio of 52 companies, including 2 unicorns. Their most notable investments are in PowerGen Renewable Energy and Value Maritime.Their portfolio spans across United States, Netherlands, Norway and 10 more locations. They have invested in Enterprise Applications, High Tech, Energy Tech and 22 other sectors, across stages such as Series A, Series B and 6 more. Here is the list of top investments by Shell Ventures:1. Aurora
Developer of self-driving technology for integration into freight operations. The technology is built of hardware and software intended to improve road safety and supply chain efficiency. It integrates into existing freight operations and operates trucks nearly continuously. It develops hardware, software, and data services to enable self-driving in passenger vehicles, light trucks, and more.
Key facts about Aurora
- Founded Year: 2017
- Location: Mountain View (United States)
- Annual Revenue: $1M - $10M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $693M
- Employee Count: 2,514 as on Apr 30, 2026
- Investors: T. Rowe Price, Reinvent Capital and 15 Others
- Latest Funding Round: Post IPO, Jul 28, 2023, $*****
- Highlight: Public
3. Sense
Smart energy platform providing real-time electricity usage insights for homes and utilities. It uses smart sensors and data analytics to deliver real-time electricity usage insights for homes, utilities, and energy partners. It helps users understand and reduce energy consumption, improve efficiency, and support grid reliability by providing high-resolution monitoring and behavioral energy insights aimed at lowering carbon emissions and accelerating the energy transition.
Key facts about Sense
- Founded Year: 2013
- Location: Cambridge (United States)
- Stage: Series D
- Total Funding till date: $177M
- Employee Count: 108 as on May 31, 2026
- Investors: CRV, Google Ventures and 21 Others
- Latest Funding Round: Series D, Jan 27, 2026, $*****
- Highlight: Editors' Pick
4. Cazoo
Online dealer of second-hand cars. Their platform enables buyers to search for cars and view their specifications, photos, service history, price, and more. Buyers can purchase the car via the platform, as well as, have the cars delivered to their location. Their platform also provides car financing and servicing.
Key facts about Cazoo
- Founded Year: 2018
- Location: London (United Kingdom)
- Annual Revenue: £10M - £50M as on Dec 31, 2023
- Stage: Public
- Total Funding till date: $563M
- Employee Count: 834 as on May 31, 2026
- Investors: Fidelity Investments, equitywestsecurities.com and 37 Others
- Latest Funding Round: Post IPO, Feb 10, 2022, $*****
- Highlight: Public
5. Revel
Revel is an app-based rental platform for electric scooters. The platform enables users to find, locate, unlock available mopeds near to their location by using the mobile application. It offers features like variant payment options, eco-friendly rides, etc. At the end of the ride, users are free to park the vehicles at any legal space in the geofence. The mobile app is available for iOS and Android devices.
Key facts about Revel
- Founded Year: 2018
- Location: Brooklyn (United States)
- Stage: Series B
- Total Funding till date: $159M
- Employee Count: 274 as on May 31, 2026
- Investors: Shell, Blue Collective and 17 Others
- Latest Funding Round: Grant (prize money), May 20, 2025, $*****
- Highlight: Editors' Pick
Shell Ventures' Year-on-Year Investment Trends
Shell Ventures has invested in 52 companies over the last 14 years, with an average of 4 new investments annually in the last 10 years. As of Feb 2026, it has made 2 investments in this year. Its most recent first time investment was in WtE-As and most recent follow-on round was in Zap Energy.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 0 | 2 |
2025 | 0 | 0 | 0 |
2024 | 3 | 3 | 6 |
2023 | 5 | 0 | 5 |
2022 | 8 | 0 | 8 |
2021 | 2 | 1 | 3 |
2020 | 1 | 1 | 2 |
2019 | 7 | 1 | 8 |
2018 | 5 | 1 | 6 |
2017 | 5 | 1 | 6 |
Shell Ventures' Investments by Stage
Shell Ventures has made 16 investments in Series A stage with an average round size of $11.8M, 15 investments in Series B stage with an average round size of $28.4M and 7 investments in Seed stage with an average round size of $5.38M.Stage of entry | No. of Investments |
|---|---|
Series A | 16 |
Series B | 15 |
Seed | 7 |
Series C | 3 |
Series D | 2 |
Others | 3 |
Note: We have considered here, only first round of investments
Shell Ventures' Investments by Sector
Shell Ventures has a diverse portfolio, with companies operating in the Energy Tech, High Tech, Sustainability Tech, Environment Tech and Enterprise Applications. Notably, it has invested in 42 Tech companies, 40 Enterprise (B2B) companies, 16 Software companies and at least 13 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
Energy Tech | 26 |
High Tech | 22 |
Sustainability Tech | 19 |
Environment Tech | 18 |
Enterprise Applications | 12 |
Others | 53 |
Note: We have considered here, only first round of investments
Shell Ventures' Investments by Geography
Shell Ventures has made most investments in United States (27), followed by Netherlands where it has made 4 investments.Country | No. of Investments |
|---|---|
United States | 27 |
Netherlands | 4 |
Norway | 4 |
India | 2 |
Kenya | 2 |
Others | 7 |
Note: We have considered here, only first round of investments
Shell Ventures' recent investments
Shell Ventures has made 2 investments in 2026 so far - WtE-As and Ammobia.Here are the most recent investments by Shell Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Feb 09, 2026 | Spain | Series B | 5383 | [+1] | |
Jan 14, 2026 | United States | Seed | 8511 | [+10] | |
Dec 03, 2024 | United States | Series B | 9193 | [+15] | |
Jul 15, 2024 | United States | Series D | 1528 | ||
Jun 19, 2024 | Netherlands | PE | 7110 | [+4] |
Unicorns in Shell Ventures' Portfolio
Shell Ventures has 2 unicorns in its portfolio - Palmetto and Ample. The most recent unicorn in their portfolio is Palmetto. It became a unicorn in 2022, 1 years after Shell Ventures first invested in it.Here is a list of unicorns in Shell Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
70 | Residential solar energy systems and battery storage solutions | 2009 | Charleston | Series C | novgpzz | ||
64 | Provider of modular battery swapping for electric vehicles | 2014 | San Francisco | Series D | rwqutii |
IPOs and Publicly Listed companies in Shell Ventures' Portfolio
2 of Shell Ventures' portfolio companies have become public. Aurora got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in May 2021 and Cazoo got listed on the New York Stock Exchange (NYSE) at marketcap of undefined.Here are Shell Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 10, 2021 | Sep 10, 2019 | Series B | 6571 | |
Dec 18, 2020 | - | - | 7473 |
Acquired companies in Shell Ventures' Portfolio
14 companies from Shell Ventures' portfolio have been acquired. The most recent acquisition was Innowatts in Sep 2025 by GridX for $*****.Here are Shell Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 02, 2025 | Aug 09, 2017 | Series A | 9459 | |
Oct 04, 2024 | Jan 25, 2022 | Series A | 6992 | |
Sep 20, 2024 | - | - | 4833 | |
Dec 14, 2023 | Jan 18, 2019 | Series D | 1933 | |
Sep 25, 2023 | Aug 03, 2018 | Unattributed | 5983 |
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Team profile of Shell Ventures
Shell Ventures has a team of 20 members including 4 Partners and 8 Principals located in United States, United Kingdom and 3 more locations. Shell Ventures' team sits on the board of 2 companies.Here is a list of top team members in Shell Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Kensington | - | ||
Partner | Amsterdam | - | ||
Partner | Zwolle | - | ||
Partner | Boston | - | ||
Principal | Chaoyang | - | ||
Principal | Houston | - | ||
Principal | Bengaluru | |||
Principal | San Francisco | - |
Co-investors of Shell Ventures
Over the past 14 years, 411 investors have co-invested in Shell Ventures's portfolio companies. This includes funds and angels.
- Invested before Shell Ventures: Shell, Energy Impact Partners and 205 others have invested in rounds before Shell Ventures. There are 7 companies where Shell has invested before Shell Ventures and 3 companies where Energy Impact Partners has invested before Shell Ventures.
- Top Co-investors of Shell Ventures: 104 investors entered a company along with Shell Ventures. These include investors like Evergy Ventures (2 companies).
- Invested after Shell Ventures: A total of 100 investors have invested in Shell Ventures's portfolio after their investments. Top Investors include Shell (4 companies), MacKinnon, Bennett & Company (3 companies) and DOE (3 companies).
Recent News related to Shell Ventures
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IIT Kanpur Startup Offgrid Energy Labs Introduces its ZincGel Technology for Energy Storage MarketEnergetica-India•Feb 15, 2022•Offgrid Energy Labs, Shell Ventures, Ankura, Ankur Capital and 2 others
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Electric Car Sharing Company Envoy Sets $11 Million Series ALos Angeles Business Journal•Nov 12, 2020•Envoy, Shell, Building Ventures, DENSO and 4 others
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Ravin.ai raises $4M to use computer vision for vehicle damage inspectionsTechCrunch+•May 21, 2019•Ravin, RAViN, PICO Partners, Shell Ventures and 2 others
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Potential megarounds for Slack and robot pizza maker ZumeThe Business Journals•Aug 08, 2018•Zume, Slack, RiskSense, Spring Mountain Capital and 27 others
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Ample Secures $31 Million Series A Financing RoundBusiness Wire•Aug 06, 2018•Ample, Ample, Shell Ventures, Repsol and 4 others
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Shell receives consent for exploration drilling in the North SeaYour Project News•Jun 01, 2018•Shell, Shell Ventures
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Shell Technology Ventures and Anglo American Platinum make Investment in HyET HydrogenFuelcellsworks•Apr 16, 2018•HyET, Shell, Shell Ventures, Anglo American and 3 others
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Accenture Forms Alliance with Maana to Help Oil and Gas Client Accelerate Digital Transformation Webwire•Dec 20, 2017•Accenture, Maana, CICC, Intel Capital and 7 others
