Ethical Power Group, a solar and energy storage project developer, announced that quant investor Greg Skinner acquired a 50% stake in the company from Hive Energy. The founder and CEO, Thomas Kneen, maintains 50% of the business. The company announced providing an additional £15 million (~19 million) working capital loan to help with the continued expansion of the company’s operations. Greg Skinner will join the Ethical Power Group board upon the deal’s completion.
Electric motorcycle startup Oben Electric has secured ₹500 million (~$5.82 million) in a Series A funding round. This round included participation from Ambis Holding US, Kuberan Ventures, Karimjee Group, Mission Vertical’s U.S.-based venture capital entity, Sanjeev Saraf (Polyplex) family office, Pravek Kalp family office, and other existing investors. The company plans to use the funding to expand its existing distribution network, and its Oben Care services to over 100 showrooms.
Flint, a company developing paper batteries, has raised $2 million in seed funding. The round was led by a consortium of angel investors along with participation from AI-driven VC firm Hatcher+. Flint develops cellulose-based paper batteries, which use materials such as cellulose paper, zinc, and manganese. The funding is expected to support commercial expansion, pilot production, and intellectual property development.
Energy-tech startup EMO Energy has raised $6.2 million (₹530.65 million) in its Series A funding round. This round was led by Subhkam Ventures, with existing investor Transition VC also participating. The company plans to use the funding to scale its advanced battery solutions for electric vehicles (EVs) and energy storage systems, targeting an expansion of its urban energy ecosystem. The company aims to deploy its services across 100,000 two and three-wheeler vehicles over the next two years and roll out 1 GWh of energy storage systems.
Mining Startup KoBold Metals raised a $537 million Series C funding round to expand AI-powered critical mineral exploration. The round, which increased KoBold’s post money valuation to $2.96 billion, was co-led by new investor Durable Capital Partners LP and by a pair of T. Rowe Price funds not yet invested. The funding included participation from existing KoBold investors Andreessen Horowitz Growth, BOND, Breakthrough Energy, Earthshot Ventures, Equinor, July Fund, Mitsubishi Corporation and Standard Investments as well as new investors StepStone Group and WCM Investment Management.
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.
