Click here to download the Executive Summary on Smart Grid.

Corporate funding for Smart Grid companies, including venture capital (VC) funding, debt, and public market financing, totaled $1.9 billion across 41 deals in the first half of 2026, a 36% increase YoY compared with $1.4 billion raised across 48 deals in 1H 2025.

VC funding for Smart Grid companies in 1H 2026 decreased 35% YoY with $711 million across 34 deals, compared with $1.1 billion raised across 41 deals in 1H 2025.

Smart Grid Communications companies accounted for the largest share of VC funding in 1H 2026, followed by Smart Charging and Distributed Generation and Integration companies.

The top Smart Grid VC funding deals in 1H 2026 were by  SPAN, which raised $163 million, plus an additional $75 million financing from Eaton; verse, with $54 million; metiundo, with $48 million; and InCharge Energy, which raised $46 million.

Announced debt and public market financing for the Smart Grid sector totaled $1.1 billion across seven deals in 1H 2026.

Smart Grid corporate M&A activity increased with seven transactions in 1H 2026, a 75% YoY increase compared to four transactions in 1H 2025.

Mercom Capital Group’s Smart Grid Funding and M&A Reports are comprehensive high-quality reports delivering superior insight, market trends and analysis. These reports help bring clarity to professionals in the current financial landscape of the smart grid industry.

The Quarterly Funding and M&A Reports contain quarter-over-quarter (QoQ) information on market activity displayed in easy-to-digest charts, graphs and tables, as well as data-driven analysis covering:

• Venture capital funding deals including top investors, QoQ trends, and a breakdown of charts and graphs by stage;
• VC funding by technology;
• Debt and other funding deals;
• Mergers and Acquisitions (M&A) including QoQ trends, with charts and graphs by technologies;
• New cleantech funds;

This report also contains comprehensive lists of all announced deals and transactions during the quarter, including:

• VC deals and investors;
• M&A transactions and acquirers;
• New cleantech funds.

There were 110 companies and investors covered in this report. The report is 36 pages in length and contains 32 charts, graphs and tables.

This report is sold under a 2026 subscription which includes all four quarters (Q1, Q2, Q3, Q4 and Annual).