Moderna vs BioNTech: funding rounds

Equity rounds recorded by Dealroom, before and after each IPO; grants and debt excluded

Moderna

$1.7B raised in 7 private rounds before the IPO, $604M at the IPO, $3.0B in 3 rounds since

Early-stage VCDec 2012
$40M
Flagship Pioneering
Late-stage VCNov 2013
$110M
Late-stage VCJan 2014
$25M
Alexion Pharmaceuticals
Late-stage VCJan 2015
$450M
Invus, Wellington Management, AstraZeneca, Viking Global Investors and 1 more
Growth equityAug 2016
$474M
Series GFeb 2018
$500M
Sequoia, Viking Global Investors, Alexandria Venture Investments, Abu Dhabi Investment Authority and 6 more
Series HMay 2018
$125M
Merck KGaA
IPO at a $7.5B valuationDec 2018
$604M
Post-IPO equityOct 2022
$250M
DFO Management
Post-IPO equityMar 2024
$750M
Blackstone
Convertible notesAug 2026
$2.0B

BioNTech

$841M raised in 5 private rounds before the IPO, $150M at the IPO, $400M in 2 rounds since

SeedFeb 2008
$150M
Santo Holding, MIG Capital, ATHOS Venture
Early-stage VCMay 2015
$30M
Eli Lilly
Series AJan 2018
$248M
Fidelity Investments, Santo Holding, ATHOS Venture, MIG Capital and 4 more
Growth equityJan 2019
$88M
Sanofi
Series BJul 2019
$325M
Redmile Group, ATHOS Venture, Fidelity Investments, Sanofi and 8 more
IPO at a $3.4B valuationOct 2019
$150M
Private placementJun 2020
$250M
Temasek
Post-IPO equityApr 2022
$150M