Battery storage VC funding rises 39% y/y in 9-mo 2018 - Mercom

Battery storage companies raised USD 783 million (EUR 690m) in venture capital (VC) funding in the first nine months of 2018, up 39% from USD 563 million in the same period of 2017, according to Mercom Capital Group LLC.

The biggest VC deals were completed by QuantumScape, which raised USD 100 million, Stem, which attracted USD 80 million, Sonnen, which received USD 71 million, Sila Technologies with USD 70 million and Ionic Materials with USD 65 million.

Announced debt and public market financing activity grew 156% to USD 446 million, while the number of merger and acquisition (M&A) transactions increased to 10 from three.

There were six announced battery storage project funding deals totalling USD 72 million in the period, compared to USD 2.1 billion in six deals in the first nine months of 2017.

(USD 1 = EUR 0.881)

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