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WATTALPS, a European lithium-based battery startup, has <a href="https://cms.mercomindia.com/lithium-ion-battery-startup-wattalps-secures-12-million/" target="_blank" rel="noopener">secured</a> €11 million (~$12 million) in Series A funding. New investors led this funding round, including Supernova Invest, Move Energy, Ring Capital, and CASRA Capital. Existing investors like EIT InnoEnergy, Eximium, and EIC Fund participated in this round. The funding will allow the company to expand its product range, improve its patented cooling technology to meet additional market needs, and extend its commercial coverage beyond Europe.
India Grid Trust (IndiGrid), a power infrastructure investment trust, has launched a preferential issue of shares priced at ₹136.43 (~$1.62) to <a href="https://www.mercomindia.com/indigrid-receives-%E2%82%B96-billion-from-aimco-and-hdfc" target="_blank" rel="noopener">raise</a> approximately ₹6.95 billion (~$82.7 million). This move follows the successful conclusion of an Offer-for-Sale managed by its sponsor, KKR, which saw substantial interest from existing and new long-term investors. The OFS, aimed at reducing KKR’s stake from 21.17% to 3.85%, was oversubscribed nearly two times, reflecting strong investor confidence. This attracted participation from prominent institutional investors such as L&amp;T, HSBC Global Asset Management, SBI Life Insurance, and Aditya Birla Mutual Fund.
Apricus Generation, a distributed solar and battery development platform and independent power producer, <a href="https://cms.mercomindia.com/apricus-generation-raises-series-a-funding-to-support-growth/" target="_blank" rel="noopener">announced</a> closing an undisclosed Series A funding round led by Blue Marlin Partners and Current Yield with Participation Fund. The funds will help the company expand its business plans and support the growth of its recent acquisition of a controlling stake in Nexus Renewables, a developer, owner, and operator of solar and energy storage projects under various stages of construction and development.
Inox Wind (IWL) has announced that the board of its subsidiary Resco Global Wind Services (Resco Global), an engineering, procurement, and construction solutions provider, has <a href="https://www.mercomindia.com/inoxs-epc-subsidiary-resco-to-raise-%E2%82%B93-5-billion-via-sale-of-shares" target="_blank" rel="noopener">approved</a> a proposal to raise ₹3.5 billion (~$41.7 million by selling a single-digit equity stake to marquee investors. The company will utilize the funds to scale up its business offerings and capitalize on large-scale opportunities in the Indian wind sector. Resco offers end-to-end services for wind projects from the conceptualization stage up to project commissioning and the construction of transmission infrastructure.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://cms.mercomindia.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-ma-roundup-sibanye-stillwater-secures-559-million-green-financing/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Battery Startup WATTALPS Secures $12 Million

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-battery-startup-wattalps-secures-12-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
WATTALPS, a European lithium-based battery startup, has <a href="https://mercomcapital.com/lithium-ion-battery-startup-wattalps-secures-12-million/" target="_blank" rel="noopener">secured</a> €11 million (~$12 million) in Series A funding. New investors led this funding round, including Supernova Invest, Move Energy, Ring Capital, and CASRA Capital. Existing investors like EIT InnoEnergy, Eximium, and EIC Fund participated in this round. The funding will allow the company to expand its product range, improve its patented cooling technology to meet additional market needs and extend its commercial coverage beyond Europe.
India Grid Trust (IndiGrid), a power infrastructure investment trust, has launched a preferential issue of shares priced at ₹136.43 (~$1.62) to <a href="https://www.mercomindia.com/indigrid-receives-%E2%82%B96-billion-from-aimco-and-hdfc" target="_blank" rel="noopener">raise</a> approximately ₹6.95 billion (~$82.7 million). This move follows the successful conclusion of an Offer-for-Sale managed by its sponsor, KKR, which saw substantial interest from existing and new long-term investors. The OFS, aimed at reducing KKR’s stake from 21.17% to 3.85%, was oversubscribed nearly two times, reflecting strong investor confidence. This attracted participation from prominent institutional investors such as L&amp;T, HSBC Global Asset Management, SBI Life Insurance, and Aditya Birla Mutual Fund.
Apricus Generation, a distributed solar and battery development platform and independent power producer, <a href="https://mercomcapital.com/apricus-generation-raises-series-a-funding-to-support-growth/" target="_blank" rel="noopener">announced</a> closing an undisclosed Series A funding round led by Blue Marlin Partners and Current Yield with Participation Fund. The funds will help the company expand its business plans and support the growth of its recent acquisition of a controlling stake in Nexus Renewables, a developer, owner, and operator of solar and energy storage projects under various stages of construction and development.
Inox Wind (IWL) has announced that the board of its subsidiary Resco Global Wind Services (Resco Global), an engineering, procurement, and construction solutions provider, has <a href="https://www.mercomindia.com/inoxs-epc-subsidiary-resco-to-raise-%E2%82%B93-5-billion-via-sale-of-shares" target="_blank" rel="noopener">approved</a> a proposal to raise ₹3.5 billion (~$41.7 million by selling a single-digit equity stake to marquee investors. The company will utilize the funds to scale up its business offerings and capitalize on large-scale opportunities in the Indian wind sector. Resco offers end-to-end services for wind projects from the conceptualization stage up to project commissioning and the construction of transmission infrastructure.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-sibanye-stillwater-secures-559-million" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.wattalps.com/" target="_blank" rel="noopener">WATTALPS</a>, a European lithium-based battery startup, has secured €11 million (~$12 million) in Series A funding. New investors led this funding round, including Supernova Invest, Move Energy, Ring Capital, and CASRA Capital. Existing investors like EIT InnoEnergy, Eximium, and EIC Fund participated in this round.
The funding will allow the company to expand its product range, improve its patented cooling technology to meet additional market needs and extend its commercial coverage beyond Europe.
Matthieu Desbois-Renaudin, CEO and Co-Founder at WATTALPS, said: “Our customers want batteries that are safe and always work as expected in all conditions, including the toughest that their applications might encounter. They had often started to work with other batteries and reached the limits of those classical batteries before choosing to work with us. They now want more of our batteries with the same technology, high quality, and high customer service levels in the DNA of WATTALPS.”
The company claims that its cooling technology improves safety and overall performance. It allows the battery to operate in a broader range of temperatures, delivers higher power, and enables a fast-charging option with comparable models, making it ideal for electrification or hybridizing heavy-duty and demanding applications.
According to Mercom’s recently released 1H and Q2 2024 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2024-funding-ma-report-storage-grid/" target="_blank" rel="noopener">report</a> for Energy Storage and Smart Grid, VC funding for Energy Storage companies in 1H 2024 came to $2.4 billion in 48 deals, a 37% decrease year-over-year compared to $3.8 billion in 43 deals in 1H 2023.
Early this year, Anthro Energy, a provider of lithium-based battery solutions, <a href="https://cms.mercomindia.com/battery-startup-anthro-energy-raises-series-a-funding/" target="_blank" rel="noopener">announced</a> the closing of an over-subscribed $20 million Series A funding round. Collaborative Fund led the financing, with significant participation from existing investors, including Union Square Ventures, Emerson Collective, and Voyager Ventures.

Lithium-ion Battery Startup WATTALPS Secures $12 Million

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