Total corporate funding in energy storage, including from venture capital (VC), public market, and debt financing, amounted to $2.2 billion in 27 deals in the first quarter (Q1) of 2023, a drop of 83% year-over-year (YoY) compared to $12.9 billion raised in 27 deals, according to Mercom’s Q1 2023 Energy Storage & Smart Grid Funding and M&A Report.