Recent Deals – 16 August

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

Agriculture & Food 

80 Acres Farms, developer of an AI and robotics supported vertical indoor farm, raised $160 million in Series B funding round led by General Atlantic. Siemens Financial Services, Barclays Bank, Blue Earth and Taurus Ventures also participated in the round. The company aims to expand its product offering and reach with the funds raised. 80 Acres Farms currently runs 8 farms situated close to distribution centres, a defining trait of its business model.  

Energy & Power 

Svolta Chinese EV and energy storage battery manufacturer, raised $1.6 billion in Series B funding from Bank of China, China’s National Fund for Technology Transfer and Commercialization, Country Garden Venture Capital, Shenzhen Capital Group (SCGC), CCB Investment, IDG Capital, Sany Heavy Industry, Xiaomi, Oceanpine Capital, China Renaissance Capital, SDIC Venture Capital and JZ Partners. The raised funds will be used to drive R&D of new technologies and to increase production capacity. 

Materials & Chemicals 

Log 9 Materials, developer of graphene nanomaterials for energy and filtration applications, raised $8.5 million in the on-going Series A funding round from Amara Raja Batteries, Exfinity Venture Partners, SEA Fund, Sequoia Capital India and other angel investors. The company plans to drive innovation and increase production capacity for its commercial rollout in late 2021. Log 9 has developed battery technology for rapid charging of electric bikes.  

Resources & Environment 

Refurbed, provider of consumer electronics refurbishment and resale services, raised $54 million in Series B funding from Evli Growth Partners, Almaz Capital, Speedinvest, Bonsai Partners, All Iron Ventures, Hermes GPE, C4 Ventures, SevenVentures, Monkfish Equity, Kreos Capital and Isomer Capital. Replacement components are sourced from companies selling off their used equipment. The company also aims to plant 1 tree for every device sold. 

Transportation & Logistics 

Inceptico Technology, provider of autonomous trucking technology and operations, raised $270 million in Series B funding from JD Logistics, Meituan, PAG, Deppon Express, IDG Capital, CMB International Capital, State Development & Investment Corporation (SDIC), Mirae Asset Global Investments, Eight Roads Ventures, Broad Vision Funds, GLP Hidden Hill Capital, CATL, NIO Capital and Eastern Bell Venture Capital. Funds will be used to drive continued development of its autonomous driving system. 

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