Recent Deals – 27 April
Looking for the latest information on cleantech deals? Find insight on recent innovation developments here.
Agriculture & Food
Hazel Technologies, developer of biodegradable capsules that provide control of produce freshness, eliminating waste in the food supply chain and shrinkage for produce distributors, raised $70 million in growth equity funding from Temasek Holdings, Pontifax AgTech, S2G Ventures, Pangaea Ventures, Rhapsody Venture Partners, Asahi Kasei, Grantham Foundation for the Protection of the Environment and Jordan Park. Hazel aims to increase its commercial distribution to at least 15 countries by 2025 and invest in product development.
Energy & Power
SES, developer of lithium-metal battery electrodes and battery electrolytes to improve battery performance while reducing cost, raised $139 million in growth equity from General Motors, SK Innovation, Temasek Holdings, Applied Materials, Applied Ventures, Shanghai Automotive and Vertex Ventures. The funding will be used to improve the lithium metal electrolyte and increase the scale of the current cell to allow use in vehicles.
Materials & Chemicals
MX3D, developer of 3D metal printing solutions using robotic additive manufacturing technology, secured $2.7 million in seed funding from DOEN Participaties, PDENH and the Netherlands Enterprise Agency (RVO). The funds will enable increased commercial roll-out of M1, a robotic metal additive manufacturing machine. MX3D is also developing MetalX, a software and control system for 3D robotics.
Resources & Environment
Grover, provider of electronics rental and recycling service, raised $54 million Series B funding from JMS Capital-Everglen, Plenus, Augmentum Fintech, Circularity Capital, Seedcamp and Samsung NEXT. Grover also secured $18 million in venture debt from Kreos Capital. The investment will be used to drive market expansion into Spain and the U.S, as well as to improve product innovation.
Transportation & Logistics
Xwing, developer of an autonomous flight technology for unmanned aircraft, raised $40 million in Series B funding from Blackhorn Ventures, ACME Group, Loup Ventures, R7 Partners, Eniac Ventures, Alven Capital and Array Ventures. With the new investment, the company aims to run regular unmanned cargo flights and expand its engineering team. Xwing has a post-money valuation of $400M.