Battery storage, smart grid, and energy efficiency companies raised $252 million during the first quarter of 2020 (Q1), a 20 per cent increase from the $210 million raised in Q1 2019.
According to a Mercom Capital Group report, “Total corporate funding, including VC, debt, and public market financing, in battery storage was $244 million in nine deals compared to $635 million in 10 deals in Q4 2019. Funding was up 88 per cent year-over-year (YoY) compared to $130 million in nine deals in Q1 2019.”
Venture capital (VC) funding, including private equity and corporate venture capital, raised by battery storage companies in Q1 2020 was $164 million in six deals compared to $78 million in seven deals in Q1 2019. Quarter-over-quarter funding was also higher compared to $126 million in seven deals in Q4 2019
