Recent Deals – 11 May

Looking for the latest information on cleantech deals? Find insight on recent innovation developments here. 

Agriculture & Food

Vence, developer of livestock management system using virtual fences and autonomous livestock control, raised $ 12 million in a Series A funding round led by Tyche Partners. Other participating investors include Grantham Environmental Trust, Eniac Ventures, Trailhead Capital, Neglected Climate Opportunities and Rabo Food & Agri Innovation Fund. The funding will allow Vence to build out its sales and operations and focus on product development.

Energy & Power

Solid Power, manufacturer of all-solid-state rechargeable batteries for electric vehicles and mobile power markets, secured $130 million Series A from BMW Group, Ford Motor Company and Volta Energy Technologies. The strategic funding comes in lieu of strengthening Ford and BMW’ access to low-cost, solid-state batteries for their electric vehicles. Solid Power will expand its in-house manufacturing capabilities using the new funds and plans to start manufacturing automotive-scale batteries on a pilot production line in 2022.

Materials & Chemicals

Modern Meadow, developer of bio-fabrication processes and materials including lab-grown leather, secured $130 million in growth equity from Key Partners Capital, Astanor Ventures, Horizons Ventures and Cape Capital. Funding will enable scaling and commercialization of the company’s bio-fabrication process and also further develop its lab-grown materials and biotechnology.

Resources & Environment

Prescient, developer of building design software and an automated manufacturing facility to produce modular building frames, raised $190 million in growth equity from Eldridge Industries and JE Dunn. The funding will support expansion into other building sectors and further develop Prescient’ technology platform. Prescient also uses recycled steel to produce components and works to eliminate waste across its supply chain.

Transportation & Logistics

Elasticrun, developer of a platform for trucking logistics based in India, secured $75 million in growth equity from Prosus Ventures, Kalaari Capital and Avataar Ventures. With this funding, the company aims to expand further out into more rural markets, with a set target of 1 million onboard retail outlets within the next 18 months. Elasticrun offers efficient last-mile logistics, driven by a machine learning based optimization platform. The latest round values the company at $400 million.

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