The Latest Climate Tech Deals and Funds #39

At Net Zero Insights, we track real-time Climate Tech funding and investment trends, helping you stay ahead of market movements. Over the past two weeks, we’ve recorded 214 deals and the launch of 4 new climate-focused investment funds.

New Climate Tech Investment Funds

These new funds are powering energy efficiency, transport, infrastructure and EVs, amongst others.

• Clean Growth Fund reached £110M (~$148M) to invest in UK clean growth companies developing technologies that support the transition to a net-zero economy.
• National Investment and Infrastructure Fund (NIIF) announced the first close of its Infrastructure Fund II at $2B, targeting $3.2B to invest in India’s energy, transport, digital, urban infrastructure, and electric mobility sectors.
• Apogem Capital closed its Apogem Private Equity Fund XI at $597M, to invest in lower middle-market businesses through emerging fund managers, independent sponsors, and direct investments across North America.
• Ventures Platform closed its second fund, VP Pan-African Fund II, at $84M, to back pre-seed to Series A startups across Africa, expanding its investments beyond Nigeria.

Top Climate Tech Funding Rounds

The past two weeks saw major funding flow into fusion power, data centers, grid flexibility, Evs, and hydrogen, amongst others.

US-based Stoke Space completed an initial closing of a $1B Series E round co-led by Point72 Venturesres and Spark Capitalal, with participation from General Innovation, Glade Brook Capital Partners LLC, US Innovation Technology, Washington Harbour Partners LPs, Woven Capitall, Y Combinator, and others, to prepare its Nova Pathfinder for first orbital launch, expand production and launch capacity, and accelerate development of its larger fully reusable Nova Block 2 vehicle.

US-based Mach Industries raised $600M in a Series C extension led by Ribbit Capitalal, Infinite Capital, Bedrock Capital, and Sequoia Capital, to scale its hydrogen-powered defense systems, including autonomous platforms, long-range strike and counter-UAS technologies.

Germany-based The Exploration Companyy raised $450M in a Series C round co-led by Atomico, EQT’s Scaleup Europe Fund and Bessemer Venture Partnerss to develop its reusable Nyx spacecraft and build a European heavy-lift launcher.

China-based Nova FusionX raised $178.6M in a Pre-Series A round from Meituan Longzhu and GL Ventures, with participation from Lenovo Capital and China Capital Investment, to advance Q>1 net fusion energy output verification and the development of supporting facilities for future commercial fusion power stations.

US-based Ayar Labs secured an additional $150M in funding, with strategic investment from Wiwynn and participation from Alchip, AMD, Intel, MediaTek and NVIDIA, to scale manufacturing-ready co-packaged optics for AI infrastructure.

UK-based Nexeon Ltd secured $135.3M in an investment round led by the National Wealth Fund, with participation from Korea Development Bank and Honda Xcelerator Ventures, to scale its silicon-based anode materials for higher-energy-density lithium-ion batteries that enable faster charging and longer EV range.

Spain-based iPRONICS raised $125M in a Series B round co-led by Maverick Silicon and Light Street Capital, with participation from NVIDIA, Triatomic Capital, and Bosch Ventures, to scale its silicon photonics-based optical circuit switching platform for AI data centers.

US-based Heron Power secured a $60M credit facility from J.P. Morgan to scale manufacturing of its advanced power electronics for the grid and accelerate commercialization.

Germany-based HyImpulse raised $58M+ in a Series A extension co-led by Join Capital GmbH and Ace Capital Partners, with participation from North Ventures, BW-Capital, Bayern Kapital, and others, to advance its hybrid-propulsion launch systems and commercialize suborbital and orbital launch services.

India-based Yuma Energy raised $35M in a Series A round from Magna International to expand its battery-swapping network and technology platform for electric two- and three-wheelers across India.

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