Smart Grid Cos raise $289 mn in H1 2015: Mercom Capital Group

Companies which are into Smart Grid technologies attracted USD 289 million in the first half of this year, according to a report by clean energy consultant Mercom Capital Group.
However, these companies had raised USD 183 million in the same period last year, it said.
Venture capital (VC) funding, including private equity, for smart grid companies was down with USD 104 million in 18 deals in Q2 2015, compared to USD 185 million in 15 deals in Q1 2015, it added.
The top VC funded company in Q2 2015 was Actility, a provider of smart energy management, demand response, machine-to-machine and internet of things, which raised USD 25 million, the report said.

Other top deals were smart wires, a grid optimisation solutions provider, which raised USD 17.3 million; Bit Stew Systems, a provider of data analytics and integration solutions for the utility industry, raised USD 17.2 million; and DataTorrent, a developer of a real-time stream analytics platform for smart grid, utilities and other industries received USD 15 million, it said.
Rounding out the top 5 was Itineris, a provider of customer care and business process outsourcing solutions for the utility industry, which raised USD 10 million, it added.

Thirty-seven investors participated in smart grid VC funding rounds in Q2 2015, including two accelerators. Within smart grid, data analytics companies raised the most funding. GE Ventures was the only investor participating in multiple deals this quarter with two, it said, adding that there was one IPO this quarter.

Companies in the battery/storage space received USD 126 million in VC funding in 13 deals, significantly higher as compared to USD 69 million in seven deals in Q1 2015, it said.
Energy Efficiency companies received USD 211 million in VC funding in 18 deals in Q2 2015, it said.