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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-eclipse-raises-23-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Eclipse, a European platform that develops, operates, and optimizes battery energy storage systems, has raised €20 million (~$23 million) in a Series A financing <a href="https://mercomcapital.com/eclipse-raises-23-million-to-expand-battery-storage-platform-in-europe/" target="_blank" rel="noopener">round</a> </strong>to expand battery storage deployment across Europe. The round was co-led by BNP Paribas and Noria. The company said the capital will support three priorities: deploying its first proprietary battery storage projects, continuing the development of Flowstream, and expanding long-term offtake solutions across Europe.</p>
<p><strong>Japan-based energy utility firm Chubu Electric Power has </strong><a href="https://www.mercomindia.com/chubu-electric-to-invest-141-million-in-continuum-green-energy" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into agreements to invest approximately ¥23 billion (~$141.15 million) in Continuum Green Energy</strong>, a renewable power producer in India. Chubu said the investment aims to support India’s decarbonization and help Japanese companies entering the Indian market procure renewable energy through Chubu Electric Power Miraiz’s customer network.</p>
<p><strong>Residential rooftop solar company, SolarSquare, has </strong><a href="https://www.mercomindia.com/solarsquare-raises-53-million-in-series-c-funding-round" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $53 million in a Series C funding round</strong> led by B Capital, with participation from existing investors Lightspeed, Elevation Capital, Lowercarbon, Rainmatter by Zerodha, and Good Capital. The company said the latest investment brings its total capital raised to more than $100 million. SolarSquare plans to use the funding to expand into new cities, strengthen its technology platform, hire talent, and scale its residential energy business across India.</p>
<p><strong>Sweden-based Vaja has </strong><a href="https://mercomcapital.com/solar-tracker-startup-vaja-raises-3-5-million-seed-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> €3.1 million (~$3.58 million) in seed funding</strong> to support the market entry and validation of its vertical single-axis solar tracking system. The Footprint Firm led the funding round, with participation from node.vc. The latest funding brings Vaja’s total capital raised to date through equity investment and grants to €6 million (~$6.94 million), according to the company.</p>
<p><strong>Granarium Technologies, a Finland-based supercapacitor startup, has </strong><a href="https://mercomcapital.com/supercapacitor-startup-granarium-technologies-raises-over-1-2-million/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> over €1 million (~$1.2 million) in total funding</strong>, including a pre-seed round led by BSV Ventures and joined by Beamline. FiBAN, the Finnish Business Angels Network, EstBAN, and LatBAN also participated in the round. Granarium’s energy storage technology is based on a nanocellulose material platform that binds biocarbon structures for power storage.<strong> </strong></p>
<p><strong>Electric mobility platform,</strong> <strong>Trevel, operated by Inwisement Technologies, has </strong><a href="https://www.mercomindia.com/trevel-raises-1-million-to-expand-electric-mobility-platform" target="_blank" rel="noopener"><strong>raised</strong></a><strong> $1 million</strong> in a funding round co-led by India Accelerator, Finvolve, the Haldiram Family Office, and Rohit Qamra. The company said it will use the funding to expand its electric vehicle (EV) fleet, enhance its technology platform, increase marketing efforts, and strengthen operations.</p>
<p>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>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-voltseal-raises-1-5-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Eclipse Raises $23 Million


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					</table><p><a href="https://eclipse-flow.com/en/eclipse/" target="_blank" rel="noopener">Eclipse</a>, a European platform that develops, operates, and optimizes battery energy storage systems, has raised €20 million (~$23 million) in a Series A financing round to expand battery storage deployment across Europe.</p>
<p>The round was co-led by BNP Paribas and Noria, with participation from Eclipse’s existing investors, including Wind Capital.</p>
<p>The company said the capital will support three priorities: deploying its first proprietary battery storage projects, continuing the development of Flowstream, and expanding long-term offtake solutions across Europe.</p>
<p>Flowstream is Eclipse’s proprietary optimization and trading platform, designed to optimize storage assets in real time across European electricity markets.</p>
<p>Christophe Guillaume, Co-founder of Noria, said: “We have been convinced by Eclipse’s positioning in the European battery storage market, built around a secured pipeline, a highly differentiated proprietary technology platform, and an integrated model combining development, financing, and optimization, notably for third-party assets. We are pleased to support Eclipse, together with the unique partnership established with BNP Paribas, in its ambition to become a leading specialized player in BESS optimization across Europe.”</p>
<p>The capital raise follows a strategic partnership announced earlier in 2026 between Eclipse and BNP Paribas. Under the partnership, the companies plan to jointly offer long-term offtake solutions that combine Eclipse’s optimization and energy market capabilities with BNP Paribas’ financing, structuring, and credit capabilities.</p>
<p>VC funding raised by energy storage companies in Q1 2026 increased 9% YoY, with $1.2 billion in 26 deals compared to $1.1 billion in 18 deals in Q1 2025, and a 44% increase in deal count, according to Mercom’s Q1 2026 Funding and M&amp;A for Energy Storage <a href="https://mercomcapital.com/product/q1-2026-funding-ma-report-energy-storage/" target="_blank" rel="noopener">report</a>.</p>
<p>In October 2025, enspired, an optimizer for battery energy storage systems, <a href="https://mercomcapital.com/enspired-extends-series-b-funding-to-over-47-million/" target="_blank" rel="noopener">extended</a> its Series B funding over €40 million (~$47 million), with participation from new investor Future Energy Ventures. The round also includes renewed commitments from Zouk Capital, EnBW New Ventures, Banpu NEXT, PUSH VC, and 360 Capital.</p>


Eclipse Raises $23 Million to Expand Battery Storage Platform in Europe

<p><a href="https://www.tandempv.com/" target="_blank" rel="noopener">Tandem PV</a>, a perovskite-based solar panel developer, has secured $50 million in Series A and debt funding, which it plans to use to construct a commercial-scale manufacturing facility in the U.S. and speed up the adoption of its solar panels.</p>
<p>The funding was led by Eclipse, with participation from Constellation Energy, Planetary Technologies, Uncorrelated Ventures, Trellis Climate, Tom Werner, former CEO of SunPower, Stifel Bank, CSC Leasing, and other existing and new investors.</p>
<p>&#8220;Tandem PV&#8217;s performance and progress are incredibly exciting, particularly given there have been minimal breakthroughs in solar technology for the past decade. Tandem PV&#8217;s impressive durability and efficiency is unmatched in the market, and it couldn&#8217;t come at a more critical time. By building a manufacturing facility in the U.S., Tandem PV will help the U.S. meet its growing energy needs while weaning off its dependence from China and other foreign manufacturers,&#8221; said Eclipse Partner Greg Reichow.</p>
<p>The company manufactures perovskite panels, which it claims can achieve 28% efficiency and could surpass 30% by late 2025, proving to be 30% more powerful than the average silicon solar panel. According to the company, these panels lower labor and land costs, offering customers a lower total cost of ownership and a sustainable path toward decarbonization.</p>
<p>In 2022, the company <a href="https://cms.mercomindia.com/tandem-pv-raises-series-a-funding/" target="_blank" rel="noopener">announced</a> an initial led by Bioeconomy Capital through its new Planetary Technologies fund, with participation from an international solar manufacturer and a U.S. utility company.</p>
<p>According to Mercom&#8217;s Annual and Q4 2024 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-and-q4-2024-solar-funding-and-ma-report/" target="_blank" rel="noopener">Report</a>, global VC and private equity funding in the solar sector in 2024 came to $4.5 billion in 60 deals, 36% lower than the $7 billion raised in 70 deals in 2023. There were 14 VC funding deals of $100 million or more in 2024.</p>


Tandem PV Raises $50 Million

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