WATTALPS, a European lithium-based battery startup, has secured €11 million (~$12 million) in Series A funding. New investors led this funding round, including Supernova Invest, Move Energy, Ring Capital, and CASRA Capital. Existing investors like EIT InnoEnergy, Eximium, and EIC Fund participated in this round. The funding will allow the company to expand its product range, improve its patented cooling technology to meet additional market needs, and extend its commercial coverage beyond Europe.
India Grid Trust (IndiGrid), a power infrastructure investment trust, has launched a preferential issue of shares priced at ₹136.43 (~$1.62) to raise approximately ₹6.95 billion (~$82.7 million). This move follows the successful conclusion of an Offer-for-Sale managed by its sponsor, KKR, which saw substantial interest from existing and new long-term investors. The OFS, aimed at reducing KKR’s stake from 21.17% to 3.85%, was oversubscribed nearly two times, reflecting strong investor confidence. This attracted participation from prominent institutional investors such as L&T, HSBC Global Asset Management, SBI Life Insurance, and Aditya Birla Mutual Fund.
Apricus Generation, a distributed solar and battery development platform and independent power producer, announced closing an undisclosed Series A funding round led by Blue Marlin Partners and Current Yield with Participation Fund. The funds will help the company expand its business plans and support the growth of its recent acquisition of a controlling stake in Nexus Renewables, a developer, owner, and operator of solar and energy storage projects under various stages of construction and development.
Inox Wind (IWL) has announced that the board of its subsidiary Resco Global Wind Services (Resco Global), an engineering, procurement, and construction solutions provider, has approved a proposal to raise ₹3.5 billion (~$41.7 million by selling a single-digit equity stake to marquee investors. The company will utilize the funds to scale up its business offerings and capitalize on large-scale opportunities in the Indian wind sector. Resco offers end-to-end services for wind projects from the conceptualization stage up to project commissioning and the construction of transmission infrastructure.
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.
