From: Mercom India
Antora Energy, a developer of thermal batteries, has raised $550 million in an oversubscribed Series C funding round co-led by G2 Venture Partners and Eclipse.
New investors included Ribbit Capital, Salesforce Ventures, Activate Capital, John Doerr, Westly Group, StepStone Group, and Liberty Mutual Strategic Ventures. Existing investors Decarbonization Partners, Impact Science Ventures, Trust Ventures, Breakthrough Energy Ventures, and Lowercarbon Capital also participated.
The company develops thermal batteries that store electricity as heat in insulated solid carbon blocks. The systems can deliver stored energy as heat or electricity for industrial facilities, data centers, and grid applications.
Antora plans to use the proceeds to accelerate project deployments, expand production, establish a second manufacturing hub in the U.S., and strengthen its domestic supply chain.
“This financing unlocks a new phase of growth for Antora,” said Nehali Jain, VP of Strategy and Growth at Antora. “In 2024, we opened our U.S. factory, which is now one of the largest battery factories in the country. Earlier this year, we turned on one of the largest battery storage projects in the world. This funding round is how we deploy more projects, more quickly, across more sectors and geographies.”
Antora said its insulated blocks can serve chemical plants, food producers, steel manufacturers, and other industrial customers.
The funding announcement follows Antora’s deployment of a 5 GWh energy storage system in South Dakota. The company said it is applying the project development model used for the South Dakota installation to a pipeline of signed agreements with hyperscale data center operators and industrial companies.
The funding follows a $150 million Series B funding round completed in 2024. Decarbonization Partners, a partnership between BlackRock and Temasek, led the earlier round. Emerson Collective, GS Futures, The Nature Conservancy, and a subsidiary of NextEra Energy Resources also participated.
According to Mercom’s recently released 1H 2026 Funding and M&A for Energy Storage report, energy storage companies totaled $1.6 billion across 51 deals in 1H 2026, representing a 6% YoY decline compared to the $1.7 billion raised across 36 deals in 1H 2025.
