Lunar Energy, a provider of integrated home battery systems and Virtual Power Plant (VPP) software, has raised $102 million in an oversubscribed Series D round led by B Capital and Prelude Ventures. This funding follows a previously unannounced $130 million Series C round led by Activate Capital, bringing the total to $232 million.
Radiance Renewables, a clean energy firm backed by Eversource Capital, has raised about $100 million in equity funding from two major international investors — Impact Fund Denmark and the Dutch entrepreneurial development bank FMO. Impact Fund Denmark and FMO are investing $50 million each.
Commercial electric mobility services provider Drivn has received a commitment of up to $80 million in funding from financial services company Nomura. Founded in 2025, Drivn buys, owns, and leases electric buses and trucks for long-distance logistics and inter-city transport. This funding from Nomura will support the first phase of Drivn’s deployment of 1,000 electric buses and trucks.
PowerBank Corporation, a North American company that develops and owns independent renewable and clean energy projects, has raised gross proceeds of $13.68 million through an equity offering. The company focuses on developing solar and battery energy storage system projects that sell electricity to a range of off-takers, including utilities, commercial entities, industrial clients, municipalities, and residential customers.
Powerline, a startup providing software-based intelligence solutions for batteries, has secured $7 million in seed funding, led by MaC Venture Capital, with participation from LG Technology Ventures, J-Impact Fund, and other strategic investors across the energy ecosystem. Powerline is building the AI intelligence layer and digital testbeds for battery portfolios.
Elong Power Holding, a company that provides lithium-ion battery solutions for energy storage systems and electric vehicles, has announced the closing of its $7.6 million underwritten public offering. Maxim Group served as the exclusive underwriter. Ortoli Rosenstadt acted as U.S. securities counsel to the company, while Pryor Cashman served as U.S. securities counsel to the underwriter in connection with the Offering.
SunPower, a solar technology, services, and installation company, has announced that it has closed its $12 million all-equity strategic acquisition of Cobalt Power Systems, a solar and energy storage systems installation company headquartered in Mountain View, California.
Power Finance Corporation (PFC) has acquired 52.63% of the Government of India’s stake in REC Limited, making REC a subsidiary of PFC. The PFC Board took note of the Union Budget 2026–27 announcement proposing the restructuring of public sector Non-Banking Financial Companies (NBFCs) and granted in-principle approval for the merger of PFC and REC, subject to requisite approvals, while ensuring that the merged entity remains a government company under applicable laws.
Hero MotoCorp has approved an additional investment of up to ₹2.75 billion (~$30.45 million) in Euler Motors. The investment is to be made in one or more tranches through a combination of primary infusion and/or secondary purchase. Euler Motors is an associate company of Hero MotoCorp, in which the company currently holds a 34.1% stake on a fully diluted basis.
For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.
Read last week’s funding roundup.
