Smart grid VC funding in Q2 2013 totaled to $50 mn: Mercom

Smart grid venture capital (VC) funding in April-June this year totaled to $50 million in ten deals, including two Indian transactions, says a report.

 

According to Mercom Capital Group, a global clean energy communications and consulting firm, except for one quarter, Q3 2012, VC funding has been stuck in the $50- 70 million range with 9-12 deals for almost two years.

 

"Even though the number of deals were consistent compared to the last few quarters, this is one of the lowest funding quarters in the last four years," Mercom Capital Group CEO Raj Prabhu said.

 

During the quarter, notable Indian transactions under VC funding were Ecolibrium Energy receiving $1.6 million from Infuse Ventures and International Finance Corporation, and Wifinity, a provider of wireless-based energy management, security and smart grid solutions, receiving angel funding from Rajkumar Elango and Sanjai Vohra.

 

Home and building automation companies totaled the most deals in the sector ($33 million in five deals), followed by grid optimisation companies ($17 million in three deals) and advanced meter infrastructure (AMI) and security companies with one deal each.

 

There were three M&A transactions in Q2 2013. The lone disclosed transaction this quarter was Cisco's acquisition of JouleX for $107 million.

 

Last quarter, there were four transactions, of which only one was disclosed for $11 million, Mercom said.