Recent Deals – 28 June 2019

Cassidy Shell

Agriculture & Food:

ZeaKal, a developer of plant science technology to increase photosynthesis, improve crop yields and enhance nutritional profiles of various agricultural crops, raised $10 million from Canopy Rivers. As a result of this investment, Canopy Rivers will own approximately 8.7% of ZeaKal and the two companies will enter a strategic collaboration. ZeaKal’s initial commercial focus has been on major row crops but will expand its program to cannabis and hemp following this investment.

Energy & Power:

Arnergy, a provider of distributed energy systems and remote energy management solutions, raised $9 million in Series A funding. Investors in the round were Breakthrough Energy Ventures, Norfund, Electrification Financing Initiative and All On. This funding will be used to develop new business models and partnership opportunities and for consumer financing and channel expansion activities.

Opus One Solutions, a developer of real-time control and optimization solutions for energy generation and storage and electric vehicle resources, closed a Series B add-on financing round of an undisclosed amount. MacKinnon, Bennett & Co and Export Development Canada led the round with participation from Renewal Funds. The fresh capital will allow the company to support global grid modernization and decarbonization efforts by accelerating growth in North American and international markets.

Materials & Chemicals:

Carbon, a manufacturer and developer of 3D printers utilizing the Continuous Liquid Interface process, raised $260 million in growth equity. Madrone Capital Partners, Baillie Gifford, Temasek Holdings, Arkema, Sequoia Capital, Johnson & Johnson, Fidelity Management & Research Company, Adidas and JSR Corporation participated in the round. This funding will be used to grow the sales, marketing and customer experience teams, expand R&D efforts, establish the company’s first Advanced Development Facility (ADF), invest in continued development of recyclable and biocompatible materials, improve software capabilities and support international expansion in Europe and Asia.

Transportation & Logistics:

Booster, a provider of workplace fueling services for corporate employees, raised $56 million in growth equity from Invus Opportunities, Madrona Venture Group, Vulcan Capital, Maveron Equity Partners, Conversion Capital and Perot Jain. In addition, Enterprise Holdings and Total Energy Ventures participated in the round as strategic investors. This investment comes as Booster completed over two million fuel deliveries, adds new corporate partners and expands the service to fleets. The capital will be used for further expansion by unlocking new markets.

 

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