VC Funding for Smart Grid at $81M in Q2 2014, Says Mercom

July 23, 2014 By Linda Hardesty

mercom energy manageAccording 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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