Recent Deals – 17 June

Looking for updates on cleantech deals? Find the latest insight on cleantech investment movement here.  

Agriculture & Food 

Farmwise, provider of weeding as-a-service solution using smart and autonomous robots, raised $45 million in Series B funding from Fall Line Capital, Middleland Capital, GV, Taylor Farms, Calibrate Ventures, Playground Global and SVG Ventures. Funding is to go towards expanding its offering and capabilities in the United States, within the vegetable farming systems. Their solution includes a plant database that scans and verifies individual crops to detect weeds.  

 

Energy & Power 

 

OhmConnect, developer of a system that pays users to reduce electricity at specific times of grid stress, raised $55 million in a growth equity round from ClearSky, Sidewalk Infrastructure Partners (SIP), Telus Ventures, Carrier, SunPower, City Light Capital, Floodgate Fund, Citi Impact Fund, Elemental Excelerator, Radicle Impact and Japan Energy Fund. Funds to allow integration of and partnerships with other technology and appliance companies, enabling grid flexibility on a larger scale.  

 

Materials & Chemicals  

Prometheus Materials, developer of a process to produce bio-cement from naturally occurring microalgae, raised $8 million in Series A funding Sofinnova Partners, Microsoft Climate Innovation Fund, Skidmore, Owings & Merrill, GAF Materials Corporation and Autodesk Foundation. Funding to go towards commercial production of other zero-carbon bio-composites. Prometheus’s proprietary process uses microalgae together with sunlight, carbon dioxide and water to produce bio-cement.  

 

Resources & Environment 

Encamp, developer of site-specific environmental compliance software, raised $30 million in growth equity funding from Drive Capital, OpenView Venture Partners, High Alpha Capital and Allos Ventures. Funding will allow further development of Encamp’s software and expand globally. The company plans to include other commodities in its platform. 

 

Transportation & Logistics 

Rimac, developer and producer of high performance electric vehicles, powertrains and battery-systems, raised $536 million in growth equity from SoftBank Vision Fund, Goldman Sachs, Porsche and InvestIndustrial. Funding to enable further growth of the business and develop campus to scale production. The company is now valued at $2.15 billion.  

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