Funding and M&A Roundup: Return Raises $348 Million

OpenSolar, a solar software platform, raised $20 million in equity funding from Titanium Ventures, Google, 2150 Sustainability Fund, and other investors.

Leveraging Google’s Solar API data, the company’s platform serves as a solar operating system for installers. Installers use the platform to design solar energy solutions for home and business owners, together with a range of tools, including sales proposals, project management, and payments systems, finance solutions, hardware ordering, and inventory management.

OpenSolar generates revenue through strategic partnerships with hardware and finance providers. The new funding will enable further investment in its AI-driven technology solutions and support the expansion of its global coverage.

“The ability for any contractor to access world class software and imagery for free, is supporting the rapid transition to low-cost clean energy.” said Andrew Birch (“Birchy”), co-founder and CEO of OpenSolar. “OpenSolar technology has facilitated 6,000,000 solar system designs, resulting in $10bn worth of solar sales, since inception. With the next generation of AI tools, we can take solar growth to the next level, reduce the cost of delivery, and help take solar to 50% of energy globally by 2035.”

In September, sun.store, a B2B digital marketplace specializing in solar and energy storage components, raised €6 million (~$7 million) in seed funding.

According to Mercom’s 1H 2025 Solar Funding and M&A report, VC funding activity decreased 7% year-over-year, with $2.5 billion raised in 32 deals in 1H 2025 compared to $2.7 billion from 29 deals in the first half of 2024. In Q2 2025, global VC funding activity declined 50% YoY, with $1.1 billion raised across 18 deals compared to $2.2 billion in 16 deals in Q2 2024.

In August, One Stop Warehouse, a solar wholesaler and distributor, secured A$8.5 million (~$5.5 million) in strategic funding from SparkEdge Capital, a venture capital firm based in Shanghai with a focus on the energy and technology sectors. The funding will support the company in its next phase of international growth in key solar markets, including the U.S., Mexico, Spain, and Romania.


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