Recent Deals – 12 July
Want to know how the latest cleantech deals are evolving? You’ll find the answers right here.
Agriculture & Food
Pure Harvest, developer of a controlled environment farming system, raised $180 million in growth equity from The Olayan Family, IMM Investment Co and Metric Capital Partners. Funding to help expand in Asia Pacific and the Middle East. The company’s greenhouses reportedly have an efficiency rate 30 times that of traditional farms. Given the unfavorable growing conditions in the region, the company aims to reduce reliance on fresh produce imports and its resulting emissions.
Energy & Power
Cenergist, provider of energy saving solutions and water management solutions by retrofitting buildings, received $7.2 million in funding from HSBC. Company to create at least 40 jobs and make strategic acquisitions. Using heat pumps and high-efficiency gas systems the company provides heating and hot water to both residential and commercial buildings. Cenergist also offers solutions to reduce water consumption – reportedly up to 26% in residential settings.
Materials & Chemicals
Magical Mushroom, manufacturer of mycelium-based and agricultural waste-based packaging, secured $3.5 million in seed funding from Ecovative Design, Dale Vince, Robert Del Naja and Marcus Watson. Funding to go towards the opening of its first commercial plant. The mycelium-based packaging is biodegradable within 45 days, and is reportedly as durable and cost comparative as polystyrene plastic
Resources & Environment
Skyseed, provider of reforestation services using data analysis to inform pelleting and sowing with semi-autonomous drones, raised a seed funding round from Wi Ventures, Rivus Capital and Better Ventures. Funding to expand team and develop its palletization technology. Using third-party drones, the company has equiped the machine with a seed box and its in-house software for flight and mapping. Skyseed uses a solution-as-a-service model.
Transportation & Logistics
Immotor, provider of battery charging and exchange system for electric personal transport, raised a Series C funding round from Petronas, Hyperchain Technologies, Guangdong Yuecai Venture Capital and PKSHA SPARX Algorithm Fund. Funding to go towards the development of innovative technologies and energy networks in cities. The company is currently active in 60 cities around China, having built an two-wheel vehicles green energy network.