Recent Deals – 31 August
Looking for insight into the latest deals in cleantech? Interested in the future of innovation? Our recent Deals brings you a summary of the latest investment.
Agriculture & Food
Sound Agriculture, developer of water efficiency and weed control products for farmers, raised $45 million in a Series C extension round led by Leaps by Bayer. Northpond Ventures, Cavallo Ventures, Fall Line Capital, S2G Ventures and Syngenta Ventures also participated in the round. Sound previously raised $22 million in a Series C round last year and will use the additional funding to boost its sales and marketing capabilities for its crop input, Source and on-demand plant breeding service.
Energy & Power
Raven SR, developer of technology to transform organic waste into renewable energy products such as hydrogen, sulfur and nitrogen-free liquid fuels, raised $20 million in Series A funding from Chevron Technology Ventures, Hyzon Motors, ITOCHU and Ascent Funds. Raven will use the funding to build waste-to-hydrogen production units and synthetic fuels facilities in California and scale internationally.
Materials & Chemicals
Genomatica, developer of biotechnology and fermentation processes to convert plant-based ingredients into chemicals, received an undisclosed sum from Lululemon. In addition to the investment, the companies will collaborate in a multi-year partnership to incorporate renewably-sourced, bio-based materials into Lululemon’s products. Genomatica will use its technology to replace conventional nylon, which is the largest volume of synthetic material used to make Lululemon’s products.
Resources & Environment
Gross-Wen Technologies, provider of algae-based water treatment, raised $6.5 million in a Series A round led by ISA Ventures. Other investors included the Iowa Farm Bureau, Next Level Ventures, Mid-American Angels, Ankeny Angels, AG Startup Engine, Oman Ventures and 1330 Investments. The company intends to use the funding to accelerate growth in Iowa and expand its operations and business reach. Gross-Wen utilizes the most sustainable form of wastewater treatment by using algae instead of bacteria or chemicals to recover nitrogen and phosphorus.
Transportation & Logistics
Ample, technology developer of autonomous robots and smart batteries to charge EVs in minutes, raised $160 million in a Series C round led by Moore Strategic Ventures. PTT, Disruptive Innovation Fund, Eneos, and SMRT also participated in the round. Ample will use the funding to scale its battery swapping service, where cars equipped with the company’s modular battery pack can drive into one of Ample’s automated charging pod locations and swap out their depleted batteries for fully charged ones.