Tata Power–Databricks Alliance Powers Unified Data & AI Platform for Smarter Grids

Tata Power, one of India’s largest integrated power companies and a part of the Tata Group, today announced the enterprise-wide adoption of the Databricks platform to accelerate its data and AI transformation across all business clusters - driving enhanced operational efficiency, smarter decision-making, and scalable digital innovation.

As Tata Power advances its transformation in line with the energy transition - spanning renewable integration, smart grids, and an expanding B2C portfolio - the company is building a future-ready data and AI platform to power its next phase of growth. This unified platform will enable intelligent grid management, advanced power planning and optimisation, improved billing and collection efficiencies, accurate renewable forecasting, and operational excellence across solar manufacturing and rooftop businesses while delivering a seamless, single-view customer experience.

To support this vision, Tata Power is leveraging Databricks to establish a modern data foundation that goes beyond traditional warehouses and fragmented analytics systems. Designed to process data at scale and enable near real-time insights, it will also support advanced analytics, AI and agents - underpinned by the governance and security of the Databricks platform. With Databricks, Tata Power can unify data engineering, analytics, and AI on a single, scalable platform, integrating edge, operational, and enterprise data, eliminating silos, and accelerating insight-led decision-making across the organisation.

A key highlight of this transformation is the adoption of Genie, Databricks’ AI agent that lets any employee talk to their data and get trusted answers instantly. With its natural language interface, Genie redefines how organisations access enterprise data to quickly generate insights, dashboards, and analytics and make better decisions, faster.

Dr Praveer Sinha, CEO & MD, Tata Power said, “This partnership with Databricks marks a key milestone in our journey to build a future-ready, intelligent energy ecosystem. By leveraging the power of data and AI , we are strengthening our digital foundation to drive smarter operations, accelerate renewable integration, and deliver more agile, customer-centric solutions while contributing to a resilient and sustainable power sector.”

Tata Power is reshaping customer energy behaviour across residential, commercial, and industrial segments - an essential lever in accelerating the energy transition. Customers are increasingly evolving into active energy participants, not just consumers, optimising their energy usage while contributing to greater grid flexibility, enhanced efficiency, and a more sustainable energy ecosystem.

“The energy sector is undergoing a profound transformation, and data and AI is at the heart of that change. Together, Databricks and Tata Power are building a unified and scalable platform that brings together data, apps, analytics, and AI agents - enabling faster innovation and more resilient, data-driven energy systems. This empowers Tata Power to optimize energy distribution, and drive smarter, more sustainable decision-making at scale,” said Nick Eayrs, Vice President of Field Engineering for Asia Pacific and Japan at Databricks.

“Tata Power’s decision to standardize on Databricks underscores the growing importance of data and AI in transforming the energy sector. As they build a unified, enterprise-wide platform, we are excited to support their journey toward smarter, more efficient operations. This also reflects the strong momentum we are seeing in India, where enterprises are rapidly scaling AI to drive innovation and measurable outcomes,” said Kamalkanth Tummala, Managing Director for India at Databricks.

Tata Power aims to consolidate enterprise data on the Databricks platform, creating a strong foundation for new initiatives and next-generation AI applications. In the medium term, this future-ready platform will enable self-service analytics, “talk-to-data” capabilities, and the democratisation of data and AI - driving faster, insight-led decision-making across the organisation.

To bring this vision to life, Tata Power will build a robust data infrastructure by leveraging the platform’s capabilities, anchored by its internal Centre of Excellence and strengthened through a strategic partner ecosystem.

India Energy Stack v0.3: One-stop digital platform for electricity data

The Ministry of Power has rolled out Version 0.3 of the India Energy Stack (IES), marking a significant step in building a Digital Public Infrastructure (DPI) for India’s electricity sector.

For an uninitiated, the India Energy Stack (IES) is a government-led initiative to build a digital public infrastructure for India’s power sector. Think of it as the "UPI for energy" — a unified, secure, and interoperable digital backbone that allows all stakeholders in the electricity ecosystem to exchange data and interact seamlessly.

Here’s a clear breakdown of what Version 0.3 of IES means:

Key Highlights of IES v0.3

• Unified Digital Framework: Designed to standardize and unify electricity data across utilities, system operators, market participants, innovators, and consumers.
• Secure & Interoperable Exchange: Enables seamless, secure data sharing through standardized protocols and shared data models.
• Consumer Empowerment: Aims to give both consumers and prosumers (those who produce and consume electricity, e.g., rooftop solar owners) more control and visibility into their energy usage.
• National Rollout Goal: The framework is being refined and tested, with a target for full-scale national deployment by 2026.
• Transparency & Efficiency: Expected to improve coordination across the energy ecosystem, reduce inefficiencies, and foster innovation in energy services.

Why It Matters

• For Consumers: Easier access to consumption data, better billing transparency, and potential for personalized energy services.
• For Innovators & Startups: A standardized data backbone opens opportunities for new apps, analytics, and smart energy solutions.
• For Policy & Governance: Strengthens India’s push toward digital public infrastructure, aligning with initiatives like India Stack in finance and health.
• For Sustainability: Facilitates integration of renewable energy sources by improving grid visibility and balancing supply-demand more effectively.

The India Energy Stack project is scheduled for completion by July 2026, with phased national adoption expected to strengthen digital coordination across India’s power sector.

Huawei Unveils IDS, An Intelligent Solution for Electric Power Industry's Most Pressing Challenges

The IDS is designed to optimize power distribution, enhance grid reliability, and facilitate the integration of renewable energy sources.

Huawei has unveiled its Intelligent Distribution Solution (IDS), which was presented at the 26th World Energy Congress in Rotterdam. The IDS is designed to address some of the electric power industry's most pressing challenges, such as high line loss, unreliable service, and the complexities of managing new energy loads.

The solution aims to transform the power distribution network, often referred to as the 'last mile', which is crucial for delivering electric power directly to consumers' homes, businesses, and industries. Huawei's IDS leverages advanced technologies to optimize power distribution, enhance grid reliability, and facilitate the integration of renewable energy sources.

Key features of Huawei's Intelligent Distribution Solution include:

• High Power Line Carrier Communication (HPLC) with 99.9% reliability, ensuring fast and reliable access for transformer district devices.
• A combination of fiber and wireless backhaul networks to provide full coverage in distribution network scenarios.
• An all-in-one edge computing unit (ECU) for lean management.
• An on-premise private cloud as the digital foundation, supporting IT and OT data integration across all departments.
• Reduced Line Loss: The IDS helps in managing line loss more effectively, which can lead to significant energy savings.
• Improved Power Supply Reliability: With advanced fault locating capabilities, the system reduces outage times and improves the overall reliability of the power supply.
• Seamless Integration of Renewable Energy: The solution supports the connection and management of distributed photovoltaic sites, enabling a higher consumption rate of clean energy.
• Enhanced Operational Efficiency: IDS enables remote automatic inspection and proactive work order management, improving the efficiency of operations and maintenance.
• Agile Development of New Services: The system allows for quick deployment of new services, reducing rollout time from months to weeks.

The IDS architecture, built on a unique "cloud-pipe-edge-device" framework, includes an on-premise private cloud, wired and wireless solutions for the backhaul network, an all-in-one edge computing unit (ECU), and next-generation high-speed power line carrier communication (HPLC) on the low-voltage side. This comprehensive approach has already shown its effectiveness with successful implementations in several provinces in China.

This comprehensive approach allows for real-time measurable observations that empower utility providers to optimize their operations, reduce costs, and improve customer satisfaction by identifying and repairing faults before power outages occur. The IDS has already shown its effectiveness with successful implementations in several provinces in China.

How does the IDS handle fault detection and management?

Huawei's Intelligent Distribution Solution (IDS) handles fault detection and management through a combination of advanced technologies and methodologies. Besides the fact that the IDS continuously monitors the power distribution network in real-time, using sensors and smart devices to collect data on the network's performance, below are key features that IDS has to handle fault detection:

• Predictive Analytics: By leveraging big data analytics and machine learning algorithms, the system can predict potential faults before they occur, allowing for preventive measures to be taken.
• Automated Fault Location: When a fault does occur, the system can quickly pinpoint its location. This is facilitated by the High-Speed Power Line Carrier Communication (HPLC) technology, which provides fast and reliable communication across the network.
• Once a fault is detected and located, the IDS can automatically reroute power or instruct maintenance crews to address the issue, minimizing downtime and service interruptions.
• Self-Healing Capabilities: The IDS is designed to have self-healing capabilities, where it can isolate the faulted section and reconfigure the network to restore power to unaffected areas.
• Comprehensive Reporting: The system generates detailed reports on faults, their causes, and the responses taken. This information is crucial for continuous improvement and learning.

These features ensure that the IDS not only detects and manages faults efficiently but also enhances the overall reliability and stability of the power distribution network. The goal is to reduce the frequency and impact of power outages, thereby improving customer satisfaction and operational efficiency.

Larsen & Toubro and IIT Indore Partner for Advance R&D in Renewable Energy Integration and Control Technology

Digital Energy Solutions arm of L&T Construction’s Power Transmission & Distribution business has signed a Memorandum of Understanding with IIT Indore to explore and work on activities through the framework set-up across various avenues of engagement. This initiative will drive industry-academia collaboration to advance research and development in renewable energy integration and control technologies.

Through this engagement, L&T’s Smart Grid Solution Centre of Excellence will be established to collaborate with the students’ Learning & Experience Program at IIT Indore.

The MoU was signed by Prof. I.A. Palani, Dean R&D, IIT Indore and Dr. Jayant Kumar, Head - Digital Energy Solutions, L&T PT&D in the presence of Mr. T. Madhava Das, Whole-Time Director and Sr Executive Vice President (Utilities) of Larsen & Toubro Limited and Prof. Suhas Joshi, Director, IIT Indore. Additionally, this event was attended by Mr. Sunil Kumar Singh, Regional Head of Operations (India & Asia Pacific - DES), Mr. Devendra Vishwakarma, Chief Technology Officer, L&T PT&D Digital Energy Solutions, and IIT Indore faculty members.

Prof. Joshi said “IIT Indore will help in providing key research capabilities, research aspirations through R&D projects, dissertation projects, student projects, incubation projects and so on. We are happy that L&T PT&D has agreed to extend their state-of-the-art Digital Energy Solutions Lab in Chennai and Dallas, USA to IITI students under this program to perform project work and joint research activities.”

Mr. T. Madhava Das said “L&T intends to engage with IIT Indore to promote innovation through entrepreneurial learning and incubation of technologies in the field of Digital Energy Solutions. We intend to undertake collaborative research and development projects in areas of common interest, such as Renewable Energy Management and Control Software, Cloud, Edge and Internet of Things (IoT) Technologies, AI/ML, Embedded Systems, VLSI Circuit and System Design & Power Electronics.”

Larsen & Toubro is a USD 23 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services. It operates in over 50 countries worldwide. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Indian Institute of Technology Indore, known as IIT Indore or IITI, is located in Simrol near Indore, Madhya Pradesh. It is an Institute of National Importance established by the Ministry of Education, Government of India in 2009.

Smart Grid-focussed IoT Startup Probus Raises $3 Mn Led by US Family Office and Unicorn India Ventures

• Round saw participation from other existing investors.
• This is Unicorn India Ventures’ third round of investment in Probus
• Signals strong belief in Probus’ IOT platform to bring in digital transformation in the power and utility sector
• Probus is an integrated IoT platform based service for distribution grid monitoring and automation
• Funds raised to be used for strengthening product R&D, expand team and grow GTM partnerships with ecosystem partners
• Probus has clocked 8X revenue growth and has achieved profitability in the last 12 months
• The Company has deployed over half a million products automating the grids and monitoring the last-mile power distribution segment. 

IoT Communications & Data Analytics Startup Probus Smart Things focused on Smart grid applications has raised $3 million from Unicorn India Ventures and Family Office from the US. The round also saw participation from existing investors. Funds raised will be used for strengthening product R&D, expanding the team and grow GTM partnerships with ecosystem partners.

Probus develops integrated hardware and software solutions for utility providers and helps digitize their distribution grid and have a clear visibility of their network through Probus integrated end to end IoT platform. A powerful IOT solution for electricity distribution utilities that helps them achieve distribution grid analytics and automation which subsequently enables a much more efficient distribution of electricity along with quicker restoration of electricity after power disturbances. Probus further enables reduced operations and management costs for utilities, and ultimately lower power costs for consumers.

 

Smart Meters Testing

Anand Singh, Co-founder CEO, Probus Smart Things, says, “Probus has been at the forefront of digitization of the last mile electricity distribution grid. With the GoI mandate of 270 million smart meters deployment by 2026 to reduce the $40 billion annual losses that India is incurring in the last mile power distribution segment, Probus's deep-tech in massive scale communications network and data analytics will be of immense value in achieving this goal. This is just the beginning of the automation that we are seeing in the energy sector. As more assets like EV, storage and renewables get deployed, IoT automation and private communication networks would become a must by all utilities and private players operating in the space. Once the data is acquired, the next step is to connect all of them and use it to resolve all the climate change issues pertaining to energy efficiency that the world is facing - optimum use of energy (demand response), reduce manual intervention and corresponding CO2 emissions.”

In the last 12 months, Probus has demonstrated 8X revenue growth and has achieved profitability at PAT level. The Company has currently deployed over half a million smart meters products in 4 geographies and doubled the team size. In addition to expanding further in India, Probus will also be looking to launch operations in MENA and SEA over the next 12 – 18 months. 

Anil Joshi, Managing Partner, Unicorn India Ventures, says, - “At Unicorn, our belief has always been to identify disruptive business ideas from sectors which may not necessarily enjoy the limelight whether it is CyberSec or InsuranceTech or power and utility. We back startups that have the potential to be the market leaders in their sector and back them with conviction. Probus is a company in which we have led the round for the 3rd time. We truly believe that the power sector and last mile distribution is a sector waiting to be disrupted and Probus’ IOT platform and smart meters are helping some of the largest utility companies adapt a technology-led approach to monitor their assets better.”

Probus has recently launched a new product for the solar sector to monitor the production efficiency of solar modules in the central inverter solar plans through wireless sensors. The Company has already bagged its first order from a major utility company covering 78MW solar plant. The Company is aiming to grow its revenues by 6X and double its team size in the next 18 – 24 months.

About Probus Smart Things

Probus Smart Things Private Limited is in the business of developing integrated hardware and software solutions for utility providers. Current scope of solutions encompasses asset management, outage management, energy management, operations management and smart metering. It aims to increase the per capita consumption of electricity in India by 10X, which is presently 1/3 of the global average- by reducing the distribution losses in the Indian electricity distribution grid.

About Unicorn India Ventures

Unicorn India Ventures is a Mumbai-based early stage fund house started in 2016 by Anil Joshi and Bhaskar Majumdar. From its first Fund, UIV has invested in 17 companies like SmartCoin, Open Bank, Inc42, Sequretek, Pharmarack, Genrobotics, Futurecure to name a few. Unicorn India Ventures Fund II, which is a Rs 300 crore fund launched in 2020 which has invested in 20 companies so far like Gamerji, ForeignAdmits, Probus, SocialSwag. The Fund has emerged as the best performing early stage fund in India with the stellar exits provided by the fund to its LPs.

A Record $13.5 Billion in Corporate Funding Raised by Battery Storage, Smart Grid, and Energy Efficiency Companies in 9M 2021, Reports Mercom Capital Group

Battery Storage Companies Bring in a Record $11.4 Billion in Corporate Funding in 9M 2021

Mercom Capital Group, LLC, a global clean energy communications and consulting firm, released its report on funding and mergers and acquisitions (M&A) activity for the global Battery Storage, Smart Grid, and Energy Efficiency sectors for the third quarter (Q3) and nine months (9M) of 2021.

To get a copy of the report, visit: https://mercomcapital.com/product/9m-q3-2021-funding-ma-report-storage-grid-efficiency

Total corporate funding (including venture capital funding, public market, and debt financing) for Battery Storage, Smart Grid, and Efficiency companies in 9M 2021 was up 184% year-over-year (YoY) with a record $13.5 billion compared to $4.7 billion raised in 9M 2020 when the market was affected by COVID-19.

Global VC funding (venture capital, private equity, and corporate venture capital) for Battery Storage, Smart Grid, and Efficiency companies came in 235% higher in 9M 2021 with $6.5 billion compared to $1.9 billion in 9M 2020. Investments continue to rise, with battery storage companies poised to play a vital role in the transition from fossil fuels to renewables.

In Q3 2021, VC funding for Battery Storage, Smart Grid, and Efficiency companies decreased with $1.6 billion in 34 deals compared to $3.6 billion in 28 deals in Q2 2021. Q2 2021 funding activity was high primarily due to a multi-billion-dollar deal in the Battery Storage sector. Funding amounts were 49% higher YoY compared to the $1.1 billion raised in 22 deals in Q3 2020.

Battery Storage

In 9M 2021, a record $11.4 billion was raised in corporate funding in 73 deals, up 244%, compared to the $3.5 billion raised in 35 deals in 9M 2020. Following the corporate funding drop in Q1 2020 (due to the COVID-19 pandemic), funding levels have continued to improve each quarter.

VC funding in Battery Storage companies in 9M 2021 was up significantly (363%) with $5.5 billion in 59 deals compared to $1.2 billion in 21 deals in 9M 2020. This is the highest ever amount of funding received by Battery Storage companies in a 9M period. Northvolt's $2.75 billion funding round in Q2 2021 was a big part of the increase.

The Top 5 VC funding deals in 9M 2021 were: Northvolt, which raised $2.75 billion, Sila Nanotechnologies, which raised $590 million; Form Energy and Nexamp, which secured $240 million each, and Ambri, which raised $144 million. A total of 223 VC investors participated in Battery Storage funding in 9M 2021.

Announced debt and public market financing activity in 9M 2021 ($5.8 billion in 14 deals) increased 152% compared to 9M 2020 when $2.3 billion was raised in 14 deals.

In 9M 2021, there were 15 Battery Storage M&A transactions compared to 11 transactions in 9M 2020.

In the first nine months of 2021, there were 31 battery storage project acquisitions compared to 15 in 9M 2020. Battery storage project acquisition activity doubled in both Q3 and 9M 2021.

Smart Grid

VC funding in Smart Grid companies in 9M 2021 was 46% higher with a record $936 million compared to the $643 million raised in 9M 2020.

In Q3 2021, VC funding for Smart Grid companies increased with $473 million in eight deals compared to $176 million in seven deals in Q2 2021. Funding amounts were 29% lower YoY compared to $368 million raised in 11 deals in Q3 2020.

The Top 5 VC funding deals in 9M 2021 were: Aulton, which raised $232 million, Ample which raised $160 million, Volta Charging, which brought in $125 million; Mainspring Energy, with $95 million; and FreeWire Technologies, which received $50 million.

Announced debt and public market financing for Smart Grid companies came to $831 million in three deals in 9M 2021 compared to $10 million in three deals in 9M 2020.

In 9M 2021, there were a total of 17 Smart Grid M&A transactions (one disclosed) compared to 18 transactions (four disclosed) in 9M 2020.

Efficiency

VC funding for Energy Efficiency companies in 9M 2021 was 95% lower with $5 million compared to the $95 million raised in 9M 2020.

One Energy Efficiency company each raised an undisclosed amount of VC funding in Q3 2021 and Q2 2021. In a YoY comparison, $48 million was raised in four deals in Q3 2020.

Announced debt and public market financing activity in the first nine months of 2021 ($343 million in one deal) was 31% lower compared to 9M 2020 when $500 million was raised in one deal.

In 9M 2021, there were two Efficiency M&A transactions ($300 million) compared to four transactions ($1.4 billion) in 9M 2020.

To get a copy of the report, visit: https://mercomcapital.com/product/9m-q3-2021-funding-ma-report-storage-grid-efficiency

About Mercom Capital Group

Mercom Capital Group, LLC, is a global communications and research firm focused on clean energy. Mercom delivers highly respected reports covering Solar Energy, Energy Storage, and Smart Grid & Energy Efficiency. Our reports provide timely industry happenings and ahead-of-the-curve analysis for C-level decision-making. Mercom's communications division helps companies and financial institutions at the forefront of energy transition achieve their ESG goals while building powerful relationships with media, analysts, government decision-makers, local communities, and strategic partners. Mercom subsidiary, Mercom Communications India, is a clean energy media and research platform covering India's energy transition. For more information about Mercom Capital Group, visit: http://www.mercomcapital.com Get Mercom's clean energy reports at: http://store.mercom.mercomcapital.com/page/.

Notable India Deals in Q3 2021

Battery Storage

• Log 9 Materials, an aluminum fuel cell technology developer, raised $8.5 million in funding from Amara Raja Batteries, Exfinity Ventures, Sequoia Capital India's Surge Programme,Rajesh Yabaji, Chanakya Hridaya, Rajesh Ramaiah, Desikan Sundarajan,Faiz Mayalakkara, and AC Ventures.
• ION Energy, battery management and intelligence platform provider, raised $3.6 million in funding from Amazon's Climate Pledge Fund, Climate Capital, YourNest Venture Capital, Riso Capital, and Venture Catalysts.
• Energy technology company GODI Energy raised an undisclosed amount of funding from Blue Ashva Capital.
• Indi Energy, an Indian energy storage startup, raised an undisclosed amount of funding from Mumbai Angels Network.

Smart Grid

• BluSmart, an integrated EV ride-hailing and charging company, raised $25 million in funding from bp ventures, Mayfield India Fund, 9Unicorns, and Survam Partners.

With $8.1Bn, Total Funding (including VC and Debt Financing) for the Battery Storage, Smart Grid, and Energy Efficiency Sectors in 2020 Shot Up by 112%

Battery Storage, Smart Grid, and Energy Efficiency Companies Bring in $8.1 Billion in Corporate Funding in 2020

Corporate funding in Battery Storage up 136% with $6.6 billion

January 20, 2021 — Mercom Capital Group, llc, a global clean energy research and communications firm, released its report on funding and mergers and acquisitions (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors for 2020. 

To get a copy of the report, visit: https://mercomcapital.com/product/2020-q4-annual-funding-ma-report-storage-grid-efficiency

Total corporate funding (including venture capital funding, public market, and debt financing) for the Battery Storage, Smart Grid, and Energy Efficiency sectors in 2020 was up by 112%, with $8.1 billion compared to $3.8 billion in 2019.

Global VC funding (venture capital, private equity, and corporate venture capital) for Battery Storage, Smart Grid, and Efficiency companies in 2020 was 12% higher with $2.6 billion compared to $2.3 billion raised in 2019.

 

Battery Storage

Total corporate funding in the battery storage sector was up 136% with $6.6 billion in 54 deals in 2020. However, VC funding for Battery Storage companies totaled $1.5 billion in 32 deals compared to $1.7 billion raised in 32 deals in 2019.

Lithium-ion based battery technology companies received the most VC funding in 2020, with $649 million. Other categories that received funding included Solid-state batteries, Energy storage downstream, Energy storage systems, and Flow batteries.

The top VC funded companies in 2020 were: Northvolt with $600 million; QuantumScape with $200 million; Zenobe Energy with $198 million; ProLogium Technology with $100 million; and Form Energy with $76 million.

105 VC investors participated in Battery Storage deals in 2020 compared to 78 in 2019. Breakthrough Energy Ventures was the top investor in 2020. Utilities and oil and gas companies were involved in four battery storage funding deals in 2020.

In 2020, announced debt and public market financing for Battery Storage companies was up significantly with $5 billion in 22 deals compared to $1.1 billion in 10 deals in 2019. This is the highest amount raised in public market financing since 2014. Northvolt's $1.6 billion and Plug Power's $1 billion loan were the largest public market financing deals in 2020.

There were 19 M&A transactions in the Battery Storage category in 2020, of which two disclosed transaction amounts.

Three battery storage companies – Quantaumscape, Romeo Power, and Stem - announced reverse mergers through Special Purpose Acquisition vehicles in 2020.

A total of 24 battery storage and solar plus storage M&A transactions were announced in 2020 compared to 11 in 2019.

Smart Grid

Smart Grid companies raised $748 million in VC funding in 38 deals in 2020, a 149% increase compared to the $300 million raised in 38 deals in 2019. Total corporate funding, including debt and public market financing, came to $758 million in 41 deals compared to $372 million in 41 deals in 2019.

The top VC funded companies in 2020 were: ChargePoint, which brought in $127 million; Star Charge, which received $125 million; Tibber, which secured $65 million; SmartRent with $60 million; and Probus Smart Things with $53 million.

A total of 102 investors funded Smart Grid companies in 2020, compared to 78 in 2019. The top VC investors in 2020 were Congruent Ventures, Energy Impact Partners, National Grid Partners, and Silicon Valley Bank.

Smart Charging companies had the largest share of VC funding in 2020 with $324 million in 13 deals, followed by Smart Grid Communications companies with $119 million in six deals, and Demand Response companies with $104 million in three deals.

In 2020, there were 21 M&A transactions (four disclosed) recorded in the Smart Grid sector compared to 29 in 2019.

Efficiency

VC funding for Energy Efficiency companies came to $291 million in 16 deals in 2020 compared to $298 million in nine deals in 2019. Total corporate funding, including debt and public market financing, reached $791 million in 2020 compared to $670 million in 2019.

The top VC funded companies in 2020 were: Redaptive, which raised $157 million; followed by Palmetto with $29 million; Juganu with $18 million; Infogrid with $16 million; and Eta Compute with $13 million.

A total of 52 investors participated in funding deals in 2019 compared to 38 investors in 2019. Evergy Ventures was the most active investor in 2020.

In 2020, debt and public market financing announced by Energy Efficiency companies rose to $500 million in one deal compared to $371 million in three deals in 2019.

M&A activity for Efficiency companies in 2020 decreased with four transactions, two of which disclosed the transaction amount. In 2019, there were nine M&A transactions with two that disclosed the transaction amount.

 

About Mercom Capital Group

Mercom Capital Group, llc, is a global communications and research and consulting firm focused on cleantech. Mercom delivers market intelligence, and funding and M&A reports covering Battery Storage, Smart Grid and Energy Efficiency, and Solar, and advises companies on new market entry, custom market intelligence, and strategic decision-making. Mercom's communications division helps companies and financial institutions build powerful relationships with media, analysts, local communities, and strategic partners. About Mercom: https://www.mercomcapital.com. Mercom's clean energy reports: https://mercomcapital.com/clean-energy-reports/. 

Distribution Utility Meet (DUM 2020) - 4th Annual Conference of Power Distribution Utilities for Collaborative Growth

- DUM will be held this year on Digital Platform with Host Utilities - BSES Yamuna, BSES Rajdhani, Tata Power Delhi Distribution Limited and Tata Power Company Limited, Mumbai from 27 – 28 Nov 2020

NEW DELHI , Nov. 19, 2020 /PRNewswire/ -- The 4th edition of ISGF's Annual Conference and Exhibition - Distribution Utility Meet (DUM 2020) will be held from 27 – 28 November 2020 on a Digital Platform this year. DUM 2020 is supported by Ministry of Power (MoP), Govt of India (GoI) . It will be hosted by BSES Yamuna, BSES Rajdhani, Tata Power Delhi Distribution Limited and Tata Power Company Limited, Mumbai . DUM 2020 will provide a unique platform for the DISCOM community to share each other's experiences in dealing with COVID-19 challenges and efforts towards fast track automation and digitalization. As the world is struggling to cope with the new-normal and preparing for the next-normal, it is imperative that utilities do not make the same mistakes but learn from each other's experiences and also bring global expertise and experiences to India. Experts from leading Utilities and experts from USA , Europe , Japan , Bangladesh and Srilanka will participate in DUM 2020 and share their experiences.

Our Hon'ble Minister Shri RK Singh, Minister for Power, MNRE and Skill Development is invited to inaugurate the event. Other eminent speakers invited during the inauguration of DUM 2020 will be SN Sahai, Secretary, Ministry of Power; Karen Klimowski , Indo Pacific Coordinator & Acting Deputy Director, USAID /India; Kapil Mohan , Principal  Secretary – Energy, Karnataka; Anshu Bhardwaj , CEO, Shakti Sustainable Energy Foundation; Akash Tripathi , Managing Director of MP Power Management Company and Secretary, Energy, Govt of MP & Chairman of MPKVVCL and Ganesh Srinivasan, CEO, TPDDL.

ISGF has been spearheading the movement towards digitalization of utilities in India . Although the actual implementation in many utilities may still be not be significant, there is already a unanimous voice for taking this journey to full digitalization. In the aftermath of COVID-19, digital platforms have become the coveted assets for utilities in their business continuity and resiliency. Government of India is about to launch a new program that is going to mandate smart meters for all the 250 million+ electricity customers in the country. Besides smart metering, utilities are expected to leverage digital platforms for many of their operations. All these new initiatives towards digitalization which in the business as usual scenario in the pre-COVID world would have taken well over a decade are now going to happen in the next 2-3 years on fast track. This is going to create data driven smart utilities which will open up new business opportunities for organizations providing tools and services to host and manage the enormous amounts of data utilities are expected to generate in the coming days.

The key themes of DUM 2020 are Digitalization in DISCOMs; Policies and Regulations for the Digital DISCOMs; DISCOM Privatization Plan; DISCOMs after COVID-19; and 250 million Smart Meters. DUM 2020 will also have a Plenary Session on New Revenue Opportunities for DISCOMs. United States Agency for International Development (USAID), New Energy and Industrial Technology Development Organization (NEDO) - JAPAN , The Electric Power Research Institute (EPRI), Florence School of Regulation (FSR) and Rocky Mountain Institute (RMI) have joined DUM 2020 as Knowledge Partners. DUM 2020 will have the Projects and Technology showcase by Amazon Web Services (AWS), Accenture, BSES Yamuna; BSES Rajdhani; Tata Power - DDL; and Tata Power Company Ltd, Mumbai ; S&C; isMobile; Schnider and many other DISCOMs and Technology Companies.

Confirmed Speakers at DUM 2020 includes Raj Pratap Singh, Chairman, UPERC; Anand Kumar , Chairperson, Gujarat Electricity Regulatory Commission (GERC); MK Goel, Chairman, Joint Electricity Regulatory Commission (JERC); Richard Schomberg , IEC Ambassador & Chairman, IEC Smart Energy Systems Committee; Mark McGranaghan , Vice President, Innovation EPRI; Roberto Zangrandi , Secretary-General, E.DSO; Jean Michel Glachant, Director, Florence School of Regulation; Karen Klimowski , Indo Pacific Coordinator & Acting Deputy Director, USAID /India; Mritunjay Kumar Narayan , Joint Secretary (Transmission, Information Technology and Discom Privatization), Ministry of Power, Govt of India ; Arun Kumar Mishra , Director, NPMU, NSGM; AK Verma, Former Joint Secretary, Ministry of Power; Praveer Sinha, CEO & Managing Director, The Tata Power Company Limited; Amal Sinha , CEO, BSES Rajdhani Power Limited; Prem R Kumar, CEO, BSES Yamuna Power Limited; Bikash Dewan , Managing Director, Dhaka Power Distribution Company; Sanjay Banga , President, Tata Power ; Apurva Chaturvedi , Senior Clean Energy Specialist, Indo Pacific Office , USAID/India; Anshu Bharadwaj , CEO, Shakti Sustainable Energy Foundation; Mahesh Patankar , Senior Advisor And Consultant Interim India Program Director, RAP India and Ajay Kaul , Head - States & Local Govt, Amazon Internet Services Pvt Ltd and Deepti Vikas Dutt, Head – Strategic Initiatives, Public Sector, Amazon Internet Services Pvt Ltd

ISGF has been organizing Distribution Utility Meet (DUM) since 2017. The first edition of DUM in 2017 was hosted by Bangalore Electricity Supply Company (BESCOM) in November 2017 in Bangalore and the second edition was hosted by Tata Power Delhi Distribution Ltd (Tata Power - DDL) and Tata Power Company Ltd (TPC) in Mumbai in Nov 2018 . The Third Edition of DUM was organized in New Delhi and was co-hosted by BSES Rajadhani Power Ltd (BRPL), BSES Yamuna Power Ltd (BYPL), Tata Power Company Ltd, Tata Power Delhi Distribution Ltd. All the previous editions of DUM were huge success that attracted the attention and participation of majority of the distribution utilities in India . Leading utilities from USA , Canada , Japan and Europe also participated in DUM and shared their experiences in implementing Smart Grid Technologies.

Please register for participating in DUM 2020 at www.dumindia.in or contact Ronkini Shome for more details at ronkini.shome@indiasmartgrid.org .

About India Smart Grid Forum

ISGF is a public private partnership initiative of Govt. of India with the mandate of accelerating smart grid deployments across the country. With 170+ members comprising of ministries, utilities, technology providers, academia and research, ISGF has evolved as a Think-Tank of global repute on Smart Energy and Smart Cities. Mandate of ISGF is to advise government on policies and programs for promotion of Smart Grids in India , work with national and international agencies in standards development and to help utilities, regulators and the Industry in technology selection, training and capacity building.

Unicorn India Ventures Invests in IoT enabled Last Mile Power Distribution Grid Automation Startup

• Electricity Distribution grid automation startup Probus Smart Things  raises undisclosed seed investment from UIV’s Fund II
• Becomes the 4th investment from Fund II
• Probus is an integrated IoT platform based service for distribution grid monitoring and automation
• Probus was the winner of Seedstars World’s India edition in 2019 & Awards from Indian Smart Grid Forum twice
• Funds raised to be deployed to strengthen the software platform and to expand the scale to different geographies
• Aims to help energy utilities to save money in last-mile power distribution segment

Mumbai-based early stage VC Fund house Unicorn India Ventures has announced its fourth investment from Rs 400 crore Fund II in IOT enabled Smartgrid automation startup Probus Smart Things. The Company has raised an undisclosed seed round from UIV which will be used for scaling up the platform and entering new geographies. 

Probus develops integrated hardware and software solutions for utility providers. 

Probus digitises the distribution grid and functions as an IoT platform based service. They are winners of the “Best Startup in India” for their sustainable solution at the 2019 Seedstars Delhi. The company and the underlying technology has been awarded by Indian Smart Grid Forum twice for the solution in 2018 and most recently in 2020. Probus is a powerful IoT solution for electricity distribution utilities that helps them achieve distribution grid analytics and automation, which subsequently enables a much more efficient distribution of electricity along with quicker restoration of electricity after power disturbances. Probus further enables reduced operations and management costs for utilities, and ultimately lower power costs for consumers.

Anand Singh, Co-founder CEO, Probus Smart Things, says, “India is a power surplus country, but the distortions in the power sector has costed the Indian economy $86 billion in 2016 alone. Current technologies like SCADA are expensive and not scalable in terms of the size & complexity of India's electricity distribution grid. Using our IoT enabled wireless, modular hardware & data analytics platform, we cut through these issues and are enabling electrical utilities to make last mile connectivity reliable by helping India achieve an efficient electricity grid within a fraction of their current costs.”

Anil Joshi, Managing Partner, Unicorn India Ventures, says, - “The electricity distribution infrastructure is ripe with opportunities for innovation and the ability to embrace the elements of smart grid infrastructure. Probus enables electricity distribution companies to rapidly digitize their infrastructure and processes by bringing cost reduction and operational efficiency. This is a service that isn't just pertinent in India but will fare well in the rest of the South East Asian market and Europe as well.” 

During the COVID-19 pandemic the need for digitized distribution grid was reinforced for efficient and timely billing and loss reduction. Probus is strongly placed to be the natural partner for utilities in driving this change.

This solution gives the distributors real-time visibility of asset performance, outages, root cause analysis, along with predictive and preventive maintenance through sensor data with scheduling and tracking of on-field personnel.

Probus is Unicorn India’s 4th investment since Mar 2020 from Fund II.

About Probus Smart Things

Probus Smart Things Private Limited is in the business of developing integrated hardware and software solutions for utility providers. Current scope of solutions encompases asset management, outage management, energy management, operations management and smart metering. It  aims to increase the per capita consumption of electricity in India by 10X, which is presently 1/3 of the global average- by reducing the distribution losses in the Indian electricity distribution grid.

About Unicorn India Ventures

Unicorn India Ventures is a Mumbai-based VC started in 2015 by Anil Joshi and Bhaskar Majumdar. The Fund  has also a UK India cross border fund for funding UK startups looking to enter India and have invested in 7 UK startups. From its Fund, UIV has invested in 18 companies like Inc42, Sequretek, Pharmarack, Genrobotic, NeuroEquilibrium, SmartCoin, Open Bank, Openapp to name a few. Unicorn India has also announced Fund II, which is a Rs 400 crore fund launched in 2019. It has also marked its first close of Rs 90 cr and has announced 4 investments.

Battery Storage, Smart Grid, and Efficiency Cos Raise $858 Mn in VC Funding in H1 2020 - Mercom Capital Report

Funding into Battery Storage and Efficiency companies was down in the first half of 2020

Mercom Capital Group, LLC, a global clean energy communications and consulting firm, released its report on funding and mergers and acquisitions (M&A) activity for the global Battery Storage, Smart Grid, and Energy Efficiency sectors for the second quarter (Q2) and first half (1H) of 2020.

Total corporate funding (including venture capital funding, public market, and debt financing) for Battery Storage, Smart Grid, and Efficiency companies in 1H 2020 was down 38% year-over-year (YoY) with $1.5 billion compared to $2.4 billion raised in 1H 2019.

Global VC funding (venture capital, private equity, and corporate venture capital) for Battery Storage, Smart Grid, and Efficiency companies in 1H 2020 was 51% lower with $858 million compared to over $1.8 billion in 1H 2019.

In Q2 2020, VC funding for Battery Storage, Smart Grid, and Efficiency companies increased with $605 million in 26 deals compared to $252 million in 16 deals in Q1 2020. Funding amounts were 61% lower YoY compared to the $1.5 billion raised in 21 deals in Q2 2019. The decrease in funding activity was primarily due to a billion-dollar deal in the Battery Storage sector in Q2 2019.

Battery Storage

VC funding in Battery Storage companies in 1H 2020 was down by 61%, with $536 million in 14 deals compared to $1.4 billion in 17 deals in 1H 2019. The decrease was due to Northvolt's $1 billion funding round in Q2 2019.

The Top 5 VC funding deals in 1H 2020 were the following: QuantumScape raised $200 million, ProLogium Technology raised $100 million, Demand Power Group secured $71 million, Highview Power secured $46 million, and Nanotech Energy raised $28 million. A total of 26 VC investors participated in Battery Storage funding in 1H 2020.

Announced debt and public market financing activity in the first half of 2020 ($180 million in five deals) was 67% lower compared to the first half of 2019 when $547 million was raised in five deals.

There were five announced Battery Storage project funding deals in 1H 2020, bringing in a combined $26 million compared to $499 million in four deals in 1H 2019.

In 1H 2020 there were a total of eight (all undisclosed) Battery Storage M&A transactions compared to six transactions (one disclosed) in 1H 2019.

Smart Grid

VC funding in Smart Grid companies in 1H 2020 was 79% higher with $275 million compared to the $154 million raised in 1H 2019.

In Q2 2020, VC funding for Smart Grid companies more than doubled with $194 million in 14 deals compared to $81 million in seven deals in Q1 2020. Funding amounts were 59% higher YoY compared to $122 million raised in seven deals in Q2 2019.

The Top 5 VC funding deals in 1H 2020 were: SmartRent raised $60 million, SmartWires raised $43 million, FreeWire Technologies received $25 million, Urbint raised $20 million, and Urjanet raised $15 million.

Announced debt and public market financing for Smart Grid companies came to $10 million in three deals in 1H 2020 compared to $1 million in one deal in 1H 2019.

In 1H 2020, there were a total of six Smart Grid M&A transactions (all undisclosed) compared to 18 transactions (one disclosed) in 1H 2019.

Efficiency

VC funding for Energy Efficiency companies in 1H 2020 was 77% lower with $47 million compared to the $207 million raised in 1H 2019.

In Q2 2020, VC funding for Efficiency companies increased with $40 million in four deals compared to $7 million in three deals in Q1 2020. Funding amounts were 63% lower YoY compared to $107 million raised in four deals in Q2 2019.

The Top 5 VC funding deals in 1H 2020 were as follows: Juganu raised $18 million, BrainBox AI raised $12 million, SmartAC.com secured $10 million, Rebound Technologies received $5 million, and HyperBorean received $2 million.

Announced debt and public market financing activity in the first half of 2020 ($500 million in one deal) was 793% higher compared to 1H 2019 when $56 million was raised in two deals.

In 1H 2020 there was one disclosed Efficiency M&A transaction compared to eight transactions (two disclosed) in 1H 2019.

To get a copy of the report, visit: https://mercomcapital.com/product/1h-q2-2020-funding-ma-report-storage-grid-efficiency

Battery Storage, Smart Grid, and Efficiency Companies Raise $252 Mn in VC Funding in Q1 2020

Battery Storage companies raise $164 million; Smart Grid companies raise $81 million; Energy Efficiency companies raise $7 million

Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report on funding and mergers & acquisitions (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors for the first quarter (Q1) of 2020.

In Q1 2020, $252 million was raised by Battery Storage, Smart Grid, and Energy Efficiency companies, a 20% increase from the $210 million raised in Q1 2019.

Battery Storage

Total corporate funding (including VC, Debt, and Public Market Financing) in Battery Storage came to $244 million in nine deals compared to $635 million in 10 deals in Q4 2019. Funding was up 88% 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 came to $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.

The top VC funded Battery Storage companies this quarter were: Demand Power Group, which raised $71 million from Star America; Highview Power raised $46 million from Sumitomo Heavy Industries; Advano raised $19 million from Mitsui Kinzoku SBI Material Innovation Fund, Future Shape, PeopleFund, Thiel Capital, DCVC, Y Combinator; ZincFive raised $13 million from 40 North Ventures, and TWAICE raised $12 million from Creandum.



Fourteen investors participated in Battery Storage funding this quarter.

In Q1 2020, announced debt and public market financing for Battery Storage technologies was 54% higher YoY compared to $52 million in two deals in Q1 2019.

One battery storage project fund of $140 million was also announced in the quarter.

There were four M&A transactions involving Battery Storage companies in Q1 2020 (no transaction amounts disclosed). There were no M&A transactions in Q4 2019. There were four M&A transactions in Q1 2019, of which only one disclosed the transaction amount.

Blackstone Energy Partners acquired NRStor C&I, a subsidiary of NRStor, a developer of battery storage solutions.

There were four announced project M&A transactions in the Battery Storage category in Q1 2020 (all transaction amounts were undisclosed).

Smart Grid

Total corporate funding in Smart Grid came to $86 million in nine deals compared to $32 million in 16 deals in Q1 2019.

VC funding for Smart Grid companies increased in Q1 2020 with $81 million in seven deals compared to $32 million in 15 deals in Q1 2019.

The top 5 VC funded Smart Grid companies included: Smart Wires, which secured $43 million; GridBeyond raised $14 million from Energias De Portugal, Act Venture Capital, Electricity Supply Board, and Total Carbon Neutrality Ventures; Driivz raised $11 million from Gilbarco Veeder-Root and Centrica Innovations; Leap raised $8 million from Union Square Ventures, Silicon Valley Bank, Congruent Ventures, National Grid Partners, Powerhouse Ventures, Elemental Excelerator, and FJ Labs; and BluWave-ai raised $4 million from Sustainable Development Technology Canada and OCE.

Twenty-two investors participated in Smart Grid VC funding rounds this quarter with Grid Optimization company raising the most.

Five million dollars was raised in two debt financing deals in Q1 2020, compared to $28 million in one deal in Q4 2019. In a YoY comparison, $1 million was raised in one debt financing deal in Q1 2019.

Five M&A transactions were announced in Q1 2020 (none disclosed transaction amounts), compared to six undisclosed transactions in Q4 2019. In a YoY comparison, there were 10 M&A transactions (one disclosed) in Q1 2019.

EDF acquired a majority stake in Pod Point, an electric vehicle charge point provider.

Efficiency

Total corporate funding in Energy Efficiency came to $7 million in three deals compared to $345 million in two deals in Q4 2019. In a YoY comparison, $155 million was raised in two deals in Q1 2019.

VC funding raised by Energy Efficiency companies in Q1 2020 came to $7 million in three deals compared to $30 million in one deal in Q4 2019. In a YoY comparison, $100 million was raised in one deal in Q1 2019.

Eight investors participated in VC funding this quarter.

In Q1 2020, there were no debt and public market financing deals. By comparison, in Q4 2019, $315 million was raised in one deal. In Q1 2019, there was also one deal for $55 million.

In Q1 2020, there was one M&A transaction for $1.4 billion, while in Q4 2019, there was no M&A transaction. In Q1 2019, there was one M&A transaction for $310 million in the Energy Efficiency sector.

To get a copy of the report, visit: http://mercomcapital.com/product/q1-2020-funding-ma-report-storage-grid-efficiency

Mercom Capital Group, llc, is a global communications and research and consulting firm focused on cleantech. Mercom delivers market intelligence, and funding and M&A reports covering Battery Storage, Smart Grid and Energy Efficiency, and Solar, and advises companies on new market entry, custom market intelligence, and strategic decision-making. Mercom's communications division helps companies and financial institutions build powerful relationships with media, analysts, local communities, and strategic partners.

Battery Storage, Smart Grid, and Efficiency Companies Raise $210 Million in VC Funding in Q1 2019

Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report on funding and mergers & acquisitions (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors for the first quarter (Q1) of 2019.

In Q1 2019, globally, $210 million was raised by Battery Storage, Smart Grid, and Energy Efficiency companies, a decrease from the $472 million raised in Q1 2018.

Battery Storage

Total corporate funding (including VC, Debt, and Public Market Financing) in Battery Storage came to $130 million in nine deals compared to $110 million in 14 deals in Q4 2018. In a year-over-year (YoY) comparison, $299 million was raised in 12 deals in Q1 2018.

Venture capital (VC) funding (including private equity and corporate venture capital) raised by Battery Storage companies in Q1 2019 came to $78 million in seven deals down significantly compared to $299 million raised in 12 deals in Q1 2018 but up quarter-over-quarter compared to $67 million in 11 deals in Q4 2018.

The top VC funded Battery Storage companies this quarter were: Zenobe, which raised $32 million from Jera and Tokyo Electric Power Company (Tepco); Sunfire secured $29 million from Paul Wurth, Inven Capital, Idinvest Partners, Total Energy Ventures, and Sunfire Entrepreneurs Club; and $17 million was raised by Ambri.



Utility and oil and gas funds were active investors in Battery Storage and Smart Grid companies in Q1 2019, including Tokyo Electric Power, Total Energy Ventures, Chevron Technology Ventures, Centrica, and Shell Ventures.

Thirteen investors participated in Battery Storage funding this quarter with Energy Storage Downstream companies raising the most.

In Q1 2019, announced debt and public market financing for Battery Storage technologies increased to $52 million in two deals, compared to $44 million in three deals in Q4 2018, an 18% increase. There were no debt and public market financing deals announced in Q1 2018.

There were four M&A transactions involving Battery Storage companies in Q1 2019, of which only one disclosed its transaction amount. There were four undisclosed M&A transactions in Q1 2018.

There was one undisclosed project M&A transaction in the Battery Storage category in Q1 2019. In Q4 2018, there were two project M&A transactions, of which only one disclosed the transaction amount. There were no Battery Storage project M&A transactions in Q1 2018.

Smart Grid

Total corporate funding in Smart Grid came to $32 million in 16 deals compared to $272 million in 10 deals in Q4 2018. In a YoY comparison, $1.3 billion was raised in nine deals in Q1 2018.

VC funding for Smart Grid companies decreased in Q1 2019 with $32 million in 15 deals compared to $266 million in nine deals in Q4 2018. In Q1 2018, $75 million was raised in seven deals. The decrease in funding was largely due to ChargePoint’s $240 million deal in the fourth quarter.

The top 5 VC funded Smart Grid companies included: Driivz, which secured $12 million from Inven Capital, CEZ’s Group’s Investment Fund, Centrica, and Ombu Group; $6 million was raised by EverCharge; Catalyze raised $5 million from Innosphere Fund, and Prisma Energy; $4 million was raised by Logical Buildings; and SensorFlow secured $3 million from Pierre Lorinet, Playfair Capital, Cocoon Capital, Entrepreneur First, 2be.lu Investments, Aurum Land, and Insitu Asia Holdings.

Thirty-two investors participated in Smart Grid VC funding rounds this quarter with Smart Charging companies raising the most.

One million dollars was raised in one debt financing deal in Q1 2019, compared to $6 million raised in one deal in Q4 2018. In a YoY comparison, $1.25 billion was raised in two debt financing deals in Q1 2018.

Nine M&A transactions were announced in Q1 2019, of which one disclosed the transaction amount, compared to three undisclosed transactions in Q4 2018. In a YoY comparison, there was one undisclosed M&A transaction in Q1 2018.

Efficiency

Total corporate funding in Energy Efficiency came to $155 million in two deals compared to $1.3 billion in eight deals in Q4 2018. In a YoY comparison, $104 million was raised in five deals in Q1 2018.

VC funding raised by Energy Efficiency companies in Q1 2019 was $100 million in one deal compared to $1.2 billion in seven deals in Q4 2018. The prior quarter total was skewed due to View’s $1.1 billion deal. In a YoY comparison, $98 million was raised in four deals in Q1 2018.

Five investors participated in VC funding this quarter.

Debt and public market financing for Efficiency companies fell to $55 million in one deal this quarter compared to $65 million in one deal in Q4 2018. In Q1 2018, there was also one deal for $6 million.

In Q1 2019, there was one M&A transaction (disclosed) while in Q4 2018, there were four M&A transactions (one disclosed). In Q1 2018, there was one undisclosed M&A transaction in the Energy Efficiency sector.