Click here to download our 1H  2025 Funding and M&A Executive Summary on Smart Grid.

Corporate funding for Smart Grid companies in 1H 2025 totaled $1.4 billion in 48 deals, 13% lower year-over-year (YoY) compared to $1.6 billion raised in 36 deals in 1H 2024.

Boosted by investments in Smart Charging companies, VC funding across all Smart Grid companies in 1H 2025 totaled $1.1 billion in 41 deals, 8% lower YoY than the $1.2 billion raised in 29 deals in 1H 2024.

The Top 5 Smart Grid VC funding deals in 1H 2025 were: Believ ($410 million), Connected Kerb ($81 million), Smart Wires ($65 million), Utilidata ($60 million), and GreenWay ($54 million).

Announced debt and public market financing for Smart Grid technology companies totaled $300 million in seven deals in 1H 2025, compared to seven deals worth $321 million in 1H 2024.

In 1H 2025, there were four Smart Grid M&A transactions (one disclosed) compared to three transactions (all undisclosed) in 1H 2024.

Mercom Capital Group’s Smart Grid Funding and M&A Reports are comprehensive high-quality reports delivering superior insight, market trends and analysis. These reports help bring clarity to professionals in the current financial landscape of the smart grid industry.

The Quarterly Funding and M&A Reports contain quarter-over-quarter (QoQ) information on market activity displayed in easy-to-digest charts, graphs and tables, as well as data-driven analysis covering:

• Venture capital funding deals including top investors, QoQ trends, and a breakdown of charts and graphs by stage;
• VC funding by technology;
• Debt and other funding deals;
• Mergers and Acquisitions (M&A) including QoQ trends, with charts and graphs by technologies;
• Battery and storage funding deals;
• New cleantech funds;

This report also contains comprehensive lists of all announced deals and transactions during the quarter, including:

• VC deals and investors;
• M&A transactions and acquirers;
• New cleantech funds.

There were 147 companies and investors covered in this report. The report is 46 pages in length and contains 34 charts, graphs and tables.

This report is sold under a 2025 subscription which includes all four quarters (Q1, Q2, Q3, Q4 and Annual).