Funding and M&A Roundup: EV Charging Platform Monta Secures $87 Million
Sion Power raises $75 million in Series A funding
From: Mercom Capital Group
Monta, an EV charging solutions provider, announced the close of an €80 million (~$87 million) Series B financing round, bringing the company’s total funding to €130 million (~$142 million) in three years. Energize Capital co-led the round with GreenPoint Partners and Denmark’s state-backed Export and Investment Fund. Monta will leverage this investment to strengthen product R&D, expanding its partner network across all markets.
Sion Power Corporation, a developer of batteries for electric vehicles, secured $75 million in Series A funding. The round was led by LG Energy Solution (the investment to be executed through LG Technology Ventures and Bricks Capital Management) and repeat participation from mathematician Jim Simons’ Euclidean Capital. Sion Power will use this new capital for technical and market validation of its technology.
Switzerland-based responsAbility, an impact-investment firm with over $4.7 billion in assets under management, said it would invest up to $25 million in BluSmart, an electric vehicle (EV) ride-hailing service in India. The investment, part of responsAbility’s broader $500 million climate strategy aimed at reducing carbon emissions in Asia through investments in low-emission technologies, will help BluSmart expand its EV charging infrastructure to enable large-scale adoption of electric mobility.
Non-banking financial company Ecofy has secured an investment of ₹900 million (~$10.83 million) from FMO, a Dutch entrepreneurial development bank, to facilitate product diversification and support its expansion across India. The company provides loans to electric vehicles, rooftop solar projects, and small and medium enterprises providing E2E digital experience. The investment will be divided into two equal tranches.
Trilantic Europe, a European private equity firm, has announced the acquisition of a 60% stake in AEROCOMPACT Group, a provider of solar mounting solutions for photovoltaic modules. The deal, which is subject to approval by the relevant authorities, will enable AEROCOMPACT to accelerate its international expansion. The company has a global presence with subsidiaries in Austria, Germany, the US, India, and Bulgaria.
China-based robotic solar module cleaning solutions firm Sunpure announced that it has completed its Series A funding round of ¥100 million (~$676,221) led by Hengxu Capital. The funds raised in this round will be directed towards the research and development of intelligent robots for solar projects, as well as the optimization and upgrading of comprehensive cleaning solutions across various scenarios.
For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.
Read last week’s funding roundup.