Battery storage, smart grid, efficiency cos raise $1bn in H1

According to the global clean energy communications and consulting firm, in the January-June period of this year, $1.03 billion was raised by battery storage, smart grid, and energy efficiency companies compared to $807 million in the comparable period last year.

There was just one deal involving an Indian company - ION Energy - a stealth startup building a layer of infrastructure for energy storage systems - raised an undisclosed amount of angel funding from a group of investors including: Sushil Jiwarajka, Aakrit Vaish, Swapan Rajdev and others.

VC funding (including private equity and corporate venture capital) for battery storage companies in the first half of 2017 stood at $480 million by way of 18 deals compared to $179 million raised in 20 deals in the year ago.

Smart grid companies raised $304 million in 22 deals in the first half of this year compared to $331 million raised in 29 deals in the first six months of last year.

VC funding into energy efficiency technology companies worth $242 million was raised in 20 deals in January-June 2017 compared to $297 million raised in 23 deals in first half of 2016. On a quarter on quarter basis, VC funding for battery storage companies jumped to $422 million in 10 deals in April-June this year compared to $58 million in eight deals in January-March 2017 due to very large funding deal.

VC funding for smart grid companies in Q2 2017 came to $139 million in eight deals compared to $164 million in 14 deals in Q1 2017.

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, the

report said.