The VC funding for good grid corporations elevated 254 per cent in the primary quarter of 2021. (Representative picture)
NEW DELHI: Global venture capital funding in power storage, good grid and power effectivity rose to $1.3 billion throughout January-March 2021, registering a whopping 410 per cent yr-on-yr progress, a report launched on Friday mentioned.
According to the report by Mercom Capital Group, the mentioned segments had noticed a mixed funding of $252 million in identical interval of 2020.
The venture capital (VC) funding (together with non-public fairness and company venture capital) raised by battery storage corporations in Q1 or January-March quarter of 2021 got here to $994 million in 13 offers in contrast to $164 million in six offers in Q1 2020, it mentioned.
The report mentioned 33 VC traders participated in battery storage funding throughout the mentioned quarter.
The VC funding for good grid corporations elevated 254 per cent in the primary quarter of 2021 to $287 million in 10 offers, in contrast with $81 million in seven offers a yr in the past, it mentioned. Twenty-eight traders participated in good grid VC funding rounds, it added.
During the quarter underneath overview, the power effectivity VC funding spherical noticed single participation. The phase noticed a funding of $5 million, down from $7 million raised in three offers in the yr-in the past interval.
Mercom Capital Group is a worldwide communications and analysis and consulting agency targeted on cleantech.
It delivers market intelligence, funding and merger and acquisition (M&A) experiences masking battery storage, good grid and power effectivity, and photo voltaic. It additionally advises corporations on new market entry, customized market intelligence, and strategic determination-making.
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