Funding and M&A Roundup: Battery Manufacturer Northvolt Secures $5 Billion Loan

Gireve, a France-based EV charging solutions provider, raised €20 Million (~$22 million) in a fresh funding round from the investor Partech through its impact fund. Existing shareholders like EDF Group, ENEDIS, the Banque des Territoires (Caisse des Dépôts), and Demeter also participated in this funding round.

With this funding, the company plans to accelerate its platform expansion in Europe and internationally. It also plans to develop new services, such as Plug & Charge and Clearing, which will enable the company to develop its data and consulting solutions.

Eric Plaquet, Chairman of Gireve, said, “We are very pleased to welcome Partech Impact as a shareholder in Gireve. The support of a leading investor aligns with our logic of global growth at this stage of our development. The strategic alignment is strong, and the values are shared.”

Sophie Paturle, Managing Partner of Demeter, commented, “With the FMET (Fonds de Modernisation Ecologique des Transports) managed by Demeter, we are proud to have contributed to the rise of Gireve, a key player in the interoperability of electric vehicle charging stations – a key element in the development of the EV market – and very happy to welcome Partech on board to accelerate the realization of Gireve’s enormous potential, led by Eric Plaquet and the remarkable team around him.”

According to Mercom’s Q1 2024 Funding and M&A report for Storage & Smart Grid, Smart Grid VC funding increased 134% in Q1 2024, with $656 million raised in 12 deals compared to $280 million in 14 deals in Q1 2023. In a QoQ comparison, funding in Q1 2024 was 197% higher compared to Q4 2023, when $221 million was raised in 10 deals.

EnviroSpark, a provider of electric vehicle (EV) charging solutions, recently secured a $50 million investment from funds that will help the company expand its EV charging landscape, which is owned and operated across the U.S.