Cleantech companies raise $ 1.03 bn in H1

Virendra Pandit Ahmedabad | Updated on January 11, 2018 Published on July 25, 2017

Venture Capital (VC) has found a new class of clients, promoters of clean technology, in global funding and an Indian company, besides many global, have successfully raised over $1 billion in the first six months of 2017.

According to a newly-released Funding and M&A Report of Mercom Capital Group, a global clean energy communications and consulting firm, battery storage, smart grid and efficiency sector companies raised $ 1.03 billion in VC funding, including private equity and corporate VC, as compared to $807 millions in H1-2016.

These companies include Indian company ION Energy, a stealth startup building a layer of infrastructure for energy storage systems, which raised an undisclosed amount of angel funding from a group of investors including Sushil Jiwarajka (Chairman of OMC Power and Founder of Nippo Batteries), Aakrit Vaish, Swapan Rajdev (Founders of Haptik) and others.

VC funding for battery storage companies jumped around five times from $58 million in eight deals in Q1-2017 to $422 million in Q2-2017 in 10 deals. Year-over-year (YoY) funding was higher compared to $125 million raised in Q2-2016 from 10 deals. In H1-2017, $480 million was raised in 18 deals compared to the $179 raised in 20 deals in H1- 2016.

On the other hand, VC funding for smart grid companies in Q2-2017 totalled $139 million in eight deals compared to $164 million in 14 deals in Q1-2017. In a Y-o-Y comparison, $222 million was raised from 15 deals in Q2-2016. Also, $304 million was raised in 22 deals in H1-2017 compared to $331 million in 29 deals in H1-2016.

However, VC funding into energy efficiency technology companies fell significantly to $29 million in six deals in Q2-2017 compared to the $213 million in 14 deals in Q1-2017 and $86 million in nine deals in Q2-2016. Also, $242 million was raised in 20 deals in H1-2017 compared to $297 million in 23 deals in H1-2016.

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Published on July 25, 2017
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