Skip navigation
vc-funding-getty-creative.jpg

Venture Capital Firms are Heavily Funding Storage, Smart Grid and Energy Efficiency Companies

Venture capital funding for battery storage, energy efficiency and smart grid companies totaled over $1.7 billion in the first half of 2019.

Total venture capital (VC) funding for battery storage, energy efficiency and smart grid companies totaled over US$1.7 billion in the first half of 2019, according to a recent report by the Mercom Capital Group, LLC. This is 102% higher than the more than $843 million funded in the first half of 2018.   

Total global corporate funding (including venture capital funding, public market, and debt financing) for battery storage, smart grid, and efficiency companies in the first half of 2019 was flat, with $2.3 billion compared to $2.4 billion raised in the first half of 2018. The decline in funding in the first half of 2019 was due to lower funding activity in smart grid companies, while funding increased in the battery storage and energy efficiency sectors. 

Battery Storage: Total VC funding in battery storagetechnologies came to $1.4 Billion, up by 139%.  The increase was spurred by Northvolt’s $1 billion funding round. 

  • The Top 5 VC funding deals in 1H 2019 were: Northvolt’s $1 billion raise, Sila Nanotechnologies raised $170 million, Romeo Power secured $88.6 million, Zenobe Energy secured $32.3 million, and LivGuard Energy Technologies raised ~$32 million. A total of 41 VC investors participated in battery storage funding in 1H 2019. 
  • Announced debt and public market financing activity in the first half of 2019 ($547 million in five deals) was 275% higher compared to the first half of 2018 when $146 million was raised in six deals. 

Smart Grid: Total VC funding in smart grid technologies came to $120 Million, down by 11%. 

  • The Top 5 VC funding deals in 1H 2019 were: SmartRent raised $32 million, CleanSpark raised $20 million, Innowatts received $18.2 million, Wirepas raised $16.2 million, and Driivz raised $12 million. A total of 48 VC investors participated in smart grid funding in 1H 2019. 
  • Announced debt and public market financing came to $1 million in one deal in 1H 2019 compared to $1.3 billion in two deals in 1H 2018. 

Energy Efficiency: Total VC funding in Energy Efficiency came to $207 Million, up by 25%. 

  • The Top 5 VC funding deals in 1H 2019 were: Kinestral Technologies raised $100 million, Budderfly raised $55 million, Carbon Lighthouse secured $32.6 million, and METRON received $11.3 million. A total of 18 VC investors participated in Energy Efficiency funding in 1H 2019.  
  • Announced debt and public market financing activity in the first half of 2019 ($56 million in two deals) was 74% lower compared to 1H 2018 when $212 million was raised in two deals. 

To get a copy of the full report, visit: https://mercomcapital.com/product/q2-2019-funding-and-ma-report-for-storage-grid-efficiency.

 

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish