Recent Deals - 30 January 2024 | Cleantech Group

Republished By Plato

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Materials developed from converted renewable feedstock; ultra-fast EV charging networks; and mycelium-derived food ingredients – recent deals worth looking at:

Agriculture & Food

Infinite Roots (2018) is a producer of sustainable food ingredients made from mycelium.

Infinite Roots raised $58M in Growth Equity funding on January 25th that will be put towards expanding production capacity, and operations. Formerly known as Mushlabs, the milestone investment ushers Infinite Foods into a new phase of growth as it intends to further global expansion activities with the new capital.

Energy & Power

Sion Power (2002) is a developer of lithium metal batteries with applications in EV, consumer electronics, and other portable storage markets.

On January 24th, Sion successfully raised $75M in Series A funding from LG Energy Solution, Euclidean Capital, and Hillspire.

This funding will be used to achieve technical and market validation of its technology, which uses compression in lithium metal batteries to enhance efficiency, longevity, and safety.

Materials & Chemicals

Zymochem (2013) is a developer of Carbon Conserving technology that converts renewable feedstocks into high-value materials to replace petroleum-based ingredients in everyday consumer goods.

Pragmatic secured $21M in Series A funding on January 16th.

This investment compliments earlier funding from the U.S. Department of Energy on November 8th, 2023, to launch its first high-performance material. Additionally, the funding will commercialization and scale its first partner product.

Resources & Environment

Furbnow (2022) is a developer of residential retrofitting technology to reduce carbon emissions and conserve energy.

On January 15th, Furbnow raised $1.2M in Seed funding from SFC Capital, Norrsken VC, and Daniel Luhde-Thompson. The round accompanies a grant from Innovate UK’s Future Economy Investor Partnership and Nesta and Founders Factory’s Mission Studio.

Furbnow intends to expand its supplier network to better support customers with insulation, ventilation, new energy generation and low-carbon heating installations through this investment.

Transportation & Logistics

Electra Charging (2020) is a developer of ultra-fast charging stations for electric vehicles.

Electra Charging raised $331M in Series B funding on January 15th.

The round will support the company’s expansion in Europe and its plans to deploy 2,200 stations (15,000 charging points) throughout Europe by 2030. This investment will also consolidate Electra Charging’s position through expanding its current infrastructure.

Enabling Technology

AiDash (2019) is a developer of AI-powered satellite analytics solutions for utility vegetation management.

On January 24th, AiDash raised $50M in Growth Equity funding.

The funding will be used to expand its team, establish a European headquarters, and expand internationally to meet growing demand. Its technology, which enables utilities to identify vegetation to optimize maintenance cycles, has grown in the U.S. and UK markets as well as garnered increased interest in Europe, Canada, Australia, and New Zealand.