Recent Deals – 14 April
Looking for the latest information on cleantech deals? Find insight on recent innovation developments here.
Agriculture & Food
Trax Retail has raised $640 million in growth equity from SoftBank’s Vision Fund II, BlackRock, OMERS and Innovation Growth Ventures. Trax, a retail robotics and analytics company, will use the funds to further scale their business and market reach. The analytics platform combines computer vision, deep learning and artificial intelligence to monitor retail environments and derives metrics on ‘shelf health’. Data is collected through mobile robotics, external cameras and sensors on shelfs.
Energy & Power
Fervo Energy disclosed raising $26.3 million in Series A funding through a regulatory filing with a target of $28.25 million. The geothermal energy producer utilizes horizontal drilling and fiber optic sensing to ensure wells are operated at maximum productivity. Fervo has also partnered with Turboden, a manufacturer of Organic Rankine Cycle (ORC) technology, to develop flexible modular geothermal plants.
Materials & Chemicals
Ecovative Design, developer of advanced plant-based materials with applications in packaging, textiles, beauty and construction, secured $60 million in growth equity from Viking Global, Senator Investment Group, AiiM Partners and Trousdale Ventures. The materials company will boost production of its Myceliuum based products and increase production capabilities. Ecovative is also developing plant-based meat.
Resources & Environment
Project Canary, a developer of air quality monitors and emissions detectors for fugitive gas emissions, raised $10 million in Series A funding from Quantum Energy Partners, Global Reserve Group and Energy Impact Partners. The funding will enable continued growth amid high demand. The company has partnered with over 100 players in the energy industry, including investors, gas producers, operators and uilities.
Transportation & Logistics
Glovo, operator of an app-driven gig economy last-mile delivery service, has raised $529 million in growth equity from Lugard Road Capital, Luxor Capital Group, Delivery Hero, Drake Enterprises and GP Bullhound. Glovo will use the funds to expand within the 20 markets it is currently operating in and develop multi-category deliveries.