Deals of the Week (6/17 - 6/23) Late-Stage / Growth ♻️ Sortera Technologies, Inc., a Fort Wayne, IN-based metal recycler, raised $44m in Series C funding from Breakthrough Energy Ventures, Macquarie Group, Misubishi Mineral Resources Group, and RA Capital Management. ⚡ M2X Energy Inc. a Rockledge, FL-based modular gas-to-methanol developer, raised $40m in Series B funding from Conifer Infrastructure Partners, AddVentures, Autodesk Foundation, Breakthrough Energy Ventures, and Eni Next. Early-Stage 🔋 Princeton NuEnergy, a Bordentown, NJ-based lithium-ion battery recycler, raised $30m in Series A funding from Helium-3 Ventures, Samsung Ventures, Honda Motor Company, LKQ Corporation, SCG, Traxys North America, and Wistron Corporation. 💨 CuspAI, a Cambridge, England-based genAI-driven search for new materials platform, raised $30m in Seed funding from Hoxton Ventures, Basis Set Ventures, FJ Labs, Giant Ventures, Lightspeed, Northzone, Tiferes Ventures, and Zero Prime Ventures. ⚡ Molten Industries, a San Francisco, CA-based methane pyrolysis developer, raised $25m in Series A funding from Breakthrough Energy Ventures, Fifty Years, J4 Ventures, Jane Woodward, Mark Heising, Moai Capital, Peter Attia, Sozo Ventures, Steelhead Capital, UVC Partners, and Union Square Ventures. 🥩 Tender Food, a Boston, MA-based alternative meat maker, raised $11m in Series A funding from Rhapsody Venture Partners, Claridge Partners, Lowercarbon Capital, Nor’easter Ventures, and Safar Partners. 🏭 Maxterial, Inc., a Los Altos, CA-based sustainable advanced materials platform, raised $8m in Series A funding from Helios Climate Ventures, Mott Corporation, and QEMETICA. 🏠 Bisly - Scalable Building Automation, a Tallinn, Estonia-based energy-efficient building appliances maker, raised $6.7m in Series A funding from Aconterra, Pinorena Capital, and SmartCap Green Fund. Exits ☀️ Ojjo, Inc. solar truss foundation maker, was acquired by Nextracker. New Funds The Engine Ventures, a Cambridge, MA-based investment firm, raised $398m for their third fund that invests in companies working to commercialize “tough tech” across climate, human health, and advanced systems technology verticals. For all these and more 👇 https://lnkd.in/dGmDHARU
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In just a short time, Seattle-based EV charging startup, Electric Era has achieved remarkable milestones that are reshaping the future of electric vehicle charging. 🚗⚡ First up, they recently announced the successful closure of their #SeriesA 💰 that will help supercharge their ability to meet the growing demand to deploy fast #chargingstations at convenience stores and quick-service retailers across the US. 🛒 But that's not all! The excitement continues as they revealed a groundbreaking partnership with Chevron Technology Ventures, which is the latest investment from #Chevron's $300 million Future Energy Fund II. This collaboration marks a significant step towards a greener and more sustainable future, where traditional energy giants are joining forces with innovative startups like #ElectricEra. 🤝 Electric Era is pioneering the EV charging game with cutting-edge technology, offering: ✔Fast Charging Stations 🔌 ✔A Fully Integrated Software Platform 💻 ✔Real-time Visibility into your Charging Network 🌐 ✔A User-Friendly Driver Mobile App 📱 ✔Onsite Battery Storage for Efficient Power Management 🔋 With this comprehensive lineup, there's nothing this company can't do to revolutionize the EV charging experience! A huge congrats to Quincy Edmund Lee and the entire Electric Era team for their remarkable success and groundbreaking achievements! #EVCharging #Sustainability #Innovation #FutureIsElectric https://lnkd.in/gS4qfvQ7
Chevron’s VC arm invests in EV charging startup Electric Era
geekwire.com
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Top-3 Funding Rounds Raised by Cleantech Startups Lately - General Motors has taken the lead in a Series B funding round worth $60 million for Mitra Chem, a company located in Silicon Valley that specialises in creating iron-based cathode active materials employed in the production of batteries for #electricvehicles. GM anticipates that this investment will accelerate the progress of developing more cost-effective batteries within the United States. - dcbel, a cleantech startup headquartered in Montréal, has concluded a Series B funding round surpassing $50 million to expedite the launch of its r16 Home Energy Station. Idealist Capital spearheaded this #funding effort, accompanied by contributors such as Volvo Cars, Coatue, Kevin Mahaffey, and Real Ventures. Dcbel's r16 offering facilitates bidirectional electric vehicle (EV) charging, enabling users to charge their EVs using solar panels and stationary #batteries, while also utilising stored EV energy to power their residence. - Advanced Ionics, a #hydrogen #electrolyzer developer for green hydrogen production, has secured $12.5 million in Series A funding. The round was lead by bp ventures and featured investors like Clean Energy Ventures l, Mitsubishi Heavy Industries, and GVP Climate. This funding will accelerate Advanced Ionics' growth and support the initial implementation of its water vapour electrolyzer technology in #heavyindustry applications. ____ Read about important cleantech developments in the weekly newsletter by Cleantech Vanguard (link in the comments)
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There seems to be significant capital upside for battery technology 🤑 👇🏽 Big financing moves have been seen across this Cleantech vertical with 𝗦𝗘𝗩𝗘𝗥𝗔𝗟 𝗕𝗜𝗟𝗟𝗜𝗢𝗡 𝗗𝗢𝗟𝗟𝗔𝗥𝗦 being pumped into start-ups... 🔋 Verkor, based in France, focus on low-carbon battery manufacturing. Their team raised $2.1 Billion in debt and equity financing, which included a $900 million Series C. Keep an eye out for their gigafactories! Benoit Lemaignan, Christophe Mille, Sylvain Paineau, Philippe Chain, Gilles Moreau, Olivier Dufour 🔋 Redwood Materials, a battery recycling start-up out of Nevada raised a $1B Series D and made a key acquisition of REDUX Recycling GmbH. JB Straubel, Kevin Kassekert, Colin Campbell, Jason Thompson, Cal Lankton 🔋 Northvolt, who manufacture lithium-ion batteries, raised a $1.2B convertible note, bringing their total funding close to the $9B mark. Peter Carlsson, Paolo Cerruti, Emma Nehrenheim, Alexander Hartman, Daniela Maniaci, Sami Haikala, Dennis van Schie Great read down below. Keep your eyes peeled for more developments on battery tech 👀 #cleantech #cleanenergy #energytransition https://lnkd.in/eita8DTK
Battery VC Investment Gets Supercharged
news.crunchbase.com
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Our portfolio startups are continuing to start the year off strong! Last week, AltMobility, a commercial Electric Vehicle (EV) leasing platform helping India-based commercial fleet operators overcome financial barriers to electrification and critical decarbonization goals, announced that it has raised $6M in funding alongside significant industry giants Shell, Eurazeo, Ev2 Ventures and Twynam. Not only does this remarkable collaboration between each party represent a milestone in revolutionizing India's EV landscape, but also in expanding Alt's EV FleetOS platform, launching new verticals, and helping them to offset 400,000 MT of lifetime CO2 emissions by 2025. Learn more: https://lnkd.in/dbb8DgAA. #EnergyTransition #EV #ElectricVehicles #D3 #ThirdDerivative #GreenTransportation
Alt Mobility raises Rs 50 crore in funding led by Shell Ventures, Eurazeo, EV2 Ventures and Twynam
financialexpress.com
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General Partner at Automotive Ventures | Author of the book "The Future of Automotive Retail" | Author of the weekly "Intel Report": sign-up at automotiveventures.com
Airbus Ventures announced an investment in OROS Labs, an innovative thermal solutions company, which has raised $22 million to support the company’s expansion in consumer, commercial, and government industries. This round of funding was led by Airbus Ventures, with participation from REI Co-op Path Ahead Ventures, Platinum Mile Ventures, Culper Ventures, Crumpton Ventures, Iron Gate Capital, Enlightenment Capital, CTK and the Goldwin Play Earth Fund, among others. Solarcore® leverages the thermal properties of polymer aerogel, the world’s lowest thermally conductive solid, to revolutionize insulation for a multitude of applications – from structures and packaging to cold weather apparel. For aerospace and space in particular, thermal insulation materials and thermal management are operationally critical. By combining cutting-edge technology with innovative design, Solarcore® is setting a new standard for thermal efficiency, along with being durable, versatile and applicable to many different product categories. https://lnkd.in/ebFXkWnY
Airbus Ventures Invests in OROS Labs®, Creators of Solarcore® Insulation, in $22M Series B Funding Round
businesswire.com
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In case you missed it: last week, South 8 Technologies welcomed Porsche Ventures, the venture capital arm of Porsche AG, as its newest investor. With global demand for lithium-ion batteries growing each year, South 8 is leading the U.S. market with an electrolyte solution that directly addresses common pain points of conventional Li-ion batteries by enhancing range and performance in extreme environments. Today, only 4% of the utilized lithium-ion production capacity is based in the U.S.; South 8 is changing that, supplying customers in EV, defense, aerospace, industrial, marine and stationary storage markets. Porsche Ventures joins existing investors LG Technology Ventures, Lockheed Martin Ventures, Taiyo Nippon Sanso, Foothill Ventures and Anzu Partners. To learn more, read the press release. #manufacturing #batteries #VC #energy #venturecapital #LiGas #EV
South 8 Welcomes Porsche Ventures as Newest Strategic Investor | Anzu Partners
https://www.anzupartners.com
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🌎 Climate tech #startups that raised capital last week 👇 With more than 40 deals logged on the Net0 platform last week, we recorded some significant deals. Here's a list of the top seven deals: 🏠United Kingdom, London-based Hometree , providing home maintenance, repair, and energy services, received $318.5M in debt financing from Barclays. 🌿United States, Minnesota-based Aymium, offering a range of high-value biocarbon and biohydrogen products, raised $50M in debt financing from Fortress Investment Group and Kilonova Capital. ⚡United Kingdom, London-based char.gy, installing public electric vehicle charging points, raised $44.5M in a growth equity round from Zouk Capital LLP. 🔥United States, Florida-based M2X Energy Inc., developing a technology to convert stranded methane gas into low-carbon methanol, raised $40M in a Series B round from Conifer Infrastructure Partners, Breakthrough Energy, Eni Next, AddVentures by SCG, and Autodesk Foundation. 🌊Norway, Haugesund-based Alginor ASA, a marine biotech company that specializes in the total utilization of seaweed, particularly kelp, raised $37.9M in a Late VC round from Borregaard. 🧪United Kingdom, Cambridge-based CuspAI, operator of a computational materials discovery platform intended to design novel porous materials for carbon capture and storage applications, raised $30M in a Seed round from Hoxton Ventures, Basis Set, Lightspeed, Giant Ventures, and Zero Prime Ventures among others. ♻️South Korea, Seoul-based LD Carbon (LDC), recycling resource materials (Green Carbon Black, pyrolysis oil, waste tires) that reduce CO2 emissions, raised $28M in a Series C round from Woven Capital, Toyota's Growth Fund, Meritz Securities , Hyundai Motor Group, and Elohim Partners among others. #climatetech #startups #investments #venturecapital #funding
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Editor of Aggregates Business Europe & Aggregates Business International, part of Route One Publishing Ltd, Dartford, Kent, England. Writing, Proofreading, Commissioning, Team Management.
BUSINESS TITAN: TITAN Cement Group has launched a Venture Capital initiative to foster innovation within the construction ecosystem. Through this initiative, the group aims to invest up to $40 million in the medium term and forge partnerships to bolster its growth strategy. To gain early exposure to disruptive technologies, TITAN has invested in Zacua Ventures, an early-stage global venture fund focused on sustainable construction and the Built Environment. Also, TITAN has expanded its investment in Rondo Energy, a US-based pioneer in zero-carbon industrial heat solutions. These investments align with TITAN's objectives of integrating innovative products, services, and materials into its operations and solutions offering, driving growth and competitiveness, and accelerating its sustainability and digitalisation goals. Leonidas Canellopoulos, TITAN Group's Chief Sustainability and Innovation Officer, commented: "We are committed to embracing innovation and fresh perspectives. By engaging with ConTech and GreenTech startups through direct and indirect investments and collaborations, we intend to forge more partnerships in the sector." #investment #cement #sustainability #greece
TITAN Cement Group launches Venture Capital initiative with investments in Zacua Ventures & Rondo Energy
aggbusiness.com
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