Corporate funding in the Smart Grid sector increased 38% year over year in 2025 to $3.3 billion across 84 deals, compared to $2.4 billion across 67 deals in 2024, with deal activity rising 25%.
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Venture capital funding for Smart Grid companies increased 6% year over year in 2025 to $1.8 billion across 68 deals, up from $1.7 billion across 56 deals in 2024.
Smart Charging companies accounted for the majority of Smart Grid VC funding in 2025. Other categories that attracted VC investment included Grid Optimization, Distributed Generation and Integration, Smart Grid Communications, and Data Analytics.
The top Smart Grid VC funding deals in 2025 included Believ ($410 million), GRIDSERVE ($135 million), WAAT ($116 million), and Connected Kerb and Hubber, each raising $81 million.
Announced debt and public market financing reached $1.5 billion across 16 deals in 2025, a 105% year-over-year increase compared to $718 million raised across 11 deals in 2024, while deal activity rose 45%.
The Smart Grid sector recorded nine corporate M&A transactions in 2025, with one disclosed transaction, compared to 10 transactions in 2024, two of which were disclosed.
