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

Global venture capital funding in energy storage, smart grid and energy efficiency rose to $1.3 billion during January-March 2021, registering a whopping 410% year-on-year growth, a report released on Friday said. According to the report by Mercom Capital Group, the said segments had saw a combined funding of $252 million in 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 came to $994 million in 13 deals compared to $164 million in six deals in Q1 2020, it said.

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