Recent Deals – 24 May

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

Agriculture & Food

TaniHub, provider of an agricultural marketplace and peer-to-peer financing solution, raised $65.5 million in a Series B round led by MDI Ventures. Other investors included AddVentures, UOB Venture Management, BRI Ventures, Flourish Ventures, Intudo Ventures, Openspace Ventures, Tenaya Capital, and Vertex Ventures. TaniHub will use the funding to continue to grow into new regions in Indonesia and boost exports for Indonesian agricultural goods by accelerating harvesting activities.

Energy & Power

SolidEnergy Systems (SES), developer of lithium-metal battery electrodes and battery electrolytes, raised $35.7 million in growth equity from SK Group’s holding firm. With this funding, SK Group will become the third-largest shareholder of SES. In March of this year, SES signed a joint development agreement with General Motors to develop and commercialize advanced battery technology by 2025, with the goal of reducing the weight of electric vehicles.

Materials & Chemicals

Formlabs, provider of 3D polymer printing solutions for prototypes, jigs, and end parts, raised $150 million in growth equity led by SoftBank’s Vision Fund II. The funding will be used to increase hiring globally and help Formlabs scale their technology for mass production. The funding will also be used to expand their portfolio of SLA and SLS technology. Formlabs provides access to digital fabrication for professionals in a variety of industries such as engineering, dental, jewelry, education, entertainment, and healthcare.

Resources & Environment

Vinted, developer of a mobile app for the second-hand clothes marketplace, raised $303 million in a growth equity round with a post-money valuation of $4.5 billion. Participating investors included EQT Growth, Accel, Burda Principal Investments, Insight Partners, Lightspeed Venture Partners, and Sprints Capital. Vinted will use the capital to expand their operations and business reach. Vinted’s mobile platform provides a social and shopping experience through one-on-one member interaction, buying  and selling.

Transportation & Logistics

Dishangtie, provider of charging and management solutions for new energy vehicle fleets, raised $100 million in growth equity funding led by Ingka Group, the parent company of IKEA. Other investors in this round included SMRT, China Securities, Bojiang Capital, and Matrix Partners China. Dishangtie will use the funding to add new capabilities to their platform, grow their maintenance network and expand into international markets.

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