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Global venture capital funding reaches $1.3 billion in January-March: Report

Global venture capital funding in energy storage, smart grid, and energy efficiency increased to $1.3 billion during January-March 2021, recording a huge 410% year-on-year growth, a report published on Friday stated. The report released by Mercom Capital Group stated that the said sections had seen consolidated funding of $252 million in the same period of 2020.

The venture capital (VC) funding (including private equity and corporate venture capital) raised by battery storage companies in Q1 or January-March quarter of 2021 stood at $994 million in 13 deals compared to $164 million in six deals in Q1 2020, it stated.

The report said 33 VC investors participated in battery storage funding during the said quarter.

The VC funding for smart grid companies rose 254% in the first quarter of 2021 to $287 million in 10 deals, compared with $81 million in seven deals a year ago, it said. Twenty-eight investors participated in smart grid VC funding rounds, it added.

During the quarter under review, the energy efficiency VC funding round saw single participation. The segment witnessed funding of $5 million, down from $7 million raised in three deals in the previous year period.

Mercom Capital Group is a global communications and research and consulting firm focused on cleantech.

It presents market intelligence, funding, and merger and acquisition (M&A) reports covering battery storage, smart grid and energy efficiency, and solar. It also advises companies on new market entry, custom market intelligence, and strategic decision-making.

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