VC Funding for Smart Grid at $81M in Q2 2014, Says Mercom
According to consulting firm Mercom Capital Group, venture capital funding into smart grid companies came in at $81 million in 13 deals in Q2 2014, compared to $101 million in 21 deals in Q1 2014.
In Q2 2014 some top VC deals include: Sunverge Energy, a developer and manufacturer of distributed energy management systems, raised $15 million; On-Ramp Wireless, a developer of wireless energy automation and M2M communications, received $13.6 million in an amended funding round; Gridco Systems, a smart power management technology company for utilities and industrial power consumers, raised $12 million.
Given the convergence of technologies, in 2014 Mercom has expanded its Smart Grid coverage to include Battery/Storage and Energy Efficiency sectors.
Companies in the Battery/Storage space received $90 million in six deals, compared to $180 million in eight deals in Q1.
Energy Efficiency companies raised $113 million in 16 deals in Q2, compared to $156 million in 12 deals in Q1 2014.
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