More than $1.2 billion was raised by battery storage, smart grid, and efficiency companies in the first nine months of 2017, up from $910 million over the same period a year ago, according to Mercom Capital’s latest tab of venture and merger financial moves in the sector.
In Q3 2017, VC funding for Battery Storage companies dropped to $83 million in seven deals compared to $422 million raised in 10 deals during Q2 2017. A year earlier, $30 million was raised in nine deals in Q3 2016.
The top VC funded Battery Storage company in Q3 2017 was Advanced Microgrid Solutions, which raised $34 million from Energy Impact Partners, Southern Company, DBL Partners, GE Ventures, AGL Energy, Macquarie Capital, and former California Governor Arnold Schwarzenegger.
