Funding and M&A Roundup: EV Charging Firm SWTCH Raises $27 Million

Skeleton Technologies, a manufacturer of ultracapacitor-based energy storage solutions, raised €108 million (~$114 million) in a funding Series E1 round to expand the company’s product development and finance the manufacturing expansion for supercapacitors. The round saw participation from Siemens Financial Services (SFS), Marubeni Corporation, Berkshire Hathaway, and Brazilian mining company CBMM. With the concluded Round E1, Skeleton’s total funding exceeds €300 million (~$316 million).

Renewable energy solutions provider KPI Green Energy is acquiring a 99.9% equity stake in solar power developer KPark Sunbeat for a consideration of ₹1.26 billion (~$15.1 million). In a regulatory filing, KPI Green Energy said its board of directors had approved the acquisition of 9,900 equity shares of KPark Sunbeat in a related party transaction. KPI has been consolidating the solar projects of the KP Group into a single entity, KPI Green Energy.

myenergi, a manufacturer of eco-smart home technology in the UK, secured an investment of £30 million (~$36 million) from Energy Impact Partners. The investment will help the company’s growth and internationalization plans. The company had raised another debt financing earlier this year from HSBC. Jefferies, a leading global full-service investment banking and capital markets firm, acted as Sole Financial Advisor to myenergi.

raicoon, a provider of AI-based solutions for autonomous solar operations, raised €4 million (~$4.2 million) in a seed funding round. Premier climate, tech, and impact funds PUSH VC, Voltares, and a private family office contributed to the strategic funding round. The company plans to use the funding to tap into new markets and enhance its product offering.

Birla Carbon, a group company of the diversified Aditya Birla Group, has acquired Nanocyl, a multi-wall carbon nanotube manufacturer based in Sambreville, Belgium. The acquisition will help Birla Carbon, a manufacturer and supplier of carbon black, expand its presence in materials critical to lithium-ion battery performance. Birla Carbon provides sustainable carbon black solutions that enhance the performance of energy systems, among other products.

Hyderabad-based rooftop solar solutions company Freyr Energy has secured an equity investment of $7 million, which it said will be used to increase the adoption of solar energy among retail customers in India. The funding round was led by EDFI ElectriFI, a European Union-funded impact investment facility managed by EDFI Management Company, which contributed $3 million to the investment.

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