Recent Deals – 24 November
Looking for the latest information on cleantech deals? From the latest developments in agriculture to nuclear innovation and autonomous vehicles, you’ve found the resource you need.
Agriculture & Food
Xag, a developer of agricultural drones for plant protection and surveying, raised $182 million in growth equity funding in a round led by Baidu Ventures and SoftBank. Other investors participating include Sinovation, Guangzhou Emerging Industry Development Fund, Chengwei Capital and Mingtai Capital. This new funding will be used to drive research and development and increase the product offering. Xag is also investing in developing a digital agricultural infrastructure for its clients to reduce labor intensity in farms.
Energy & Power
Zenobe Energy, a supplier and operator of energy storage assets for commercial EV operators, industrial businesses and utilities, secured $200 million growth equity from Infracapital. The investment will support expansion of its grid-connected battery services and the development of charging infrastructure for electric vehicles.
Materials & Chemicals
Mycoworks, provider of leather grown from mycelium and agricultural byproducts in a carbon-negative process, raised $45 million in a Series B round led by WTT Investment and DCVC Bio and participation from Valor Equity Partners, Humboldt Fund, Gruss & Co, John Legend, Natalie Portman, AgFunder, Novo Holdings, 8VC, SOSV, Wireframe Ventures and Tony Fadell. The funding will be used to establish additional plants.
Resources & Environment
Deep Isolation, developer of nuclear waste storage and disposal methods using directional drilling technology to safely isolate nuclear waste deep underground, raised $20 million in a Series A round from NAC International. Deep Isolation is currently developing a patented effective disposal method based on the drilling and conveyance technology used in the oil & gas sector.
Transportation & Logistics
Nuro, producer of autonomous vehicles to deliver goods, raised $500 million growth equity in a round led by T. Rowe Price. Fidelity Management & Research Company, Baillie Gifford, SoftBank and Greylock also participated in this round. This new funding will allow Noru to scale across multiple markets and cities in the long-term.