‘Too early’ to talk IPO, Redwood Materials’ incoming CFO says

techcrunch.com May 11, 2026

‘Too early’ to talk IPO, Redwood Materials’ incoming CFO says

Curated by Shubham · TechCapsules · May 11, 2026

AI-summarised brief · reviewed before publication

Redwood Materials has hired Deepak Ahuja, former Tesla finance chief, as its new CFO. Ahuja joins an executive team comprising former Tesla executives, including founder and CEO JB Straubel. Despite a hot IPO market, Ahuja says it's "too early" to discuss going public, citing the company's ability to raise funds from blue-chip investors. Redwood Materials recently closed a $425 million Series E funding round, bringing its total capital raised to over $2 billion and valuation to over $6 billion. Ahuja's appointment comes amidst a restructuring that affected 10% of the workforce. The company is shifting resources toward its energy storage business.

💡 Why It Matters

· Ahuja's cautious approach to an IPO suggests Redwood Materials is prioritizing strategic growth over short-term gains.
· His experience at Tesla will be crucial in navigating the company's expansion.

Capsules Energy

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