Funding and M&A Roundup: SmartSolar Raises $1.8 Million in Seed Funding ORIT secures $125 million five-year term loan facility SmartSolar, a rooftop solar solution provider, has raised $1.85 million in seed funding. The funding was led by Picus Capital and 2degrees, along with participation from early-stage venture capital firm Iterative. With this funding, the company plans to accelerate its growth in Vietnam and expand its footprint across Southeast Asia. The company offers rooftop solar solutions designed to help businesses cut down on electricity costs. Octopus Renewables Infrastructure Trust, an investment company, announced that it has signed a £100 million (~$125 million) five-year term loan facility with three of its existing lenders, Santander, National Australia Bank, and Allied Irish Banks. The funding will be used to pay down a portion of the existing and more expensive Revolving Credit Facility (RCF) debt. According to ORIT, it has drawn £151.2 million (~$191 million) on the RCF so far. Vidyut, an electric vehicle ecosystem platform, has raised $2.5 million in funding from global investor Flourish Ventures. The company will utilize the acquired funds to expand its Battery-as-a-Service offering in passenger and commercial EV segments. By unbundling batteries from EVs and offering them on a pay-per-km subscription basis, Vidyut claimed it had reduced upfront electric three-wheeler costs by 35-40%. 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. Tags: Vidyut, Octopus Renewables Infrastructure Trust, SmartSolar, solar, funding

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.

Staff

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