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Texas-based Base Power has <a href="https://cms.mercomindia.com/base-power-raises-1-billion-in-series-c-funding/" target="_blank" rel="noopener">raised</a> $1 billion in Series C funding, led by Addition, to accelerate the deployment of its home battery storage solutions. Existing backers, such as Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, and Waybury, returned for the round. New investors include Ribbit, CapitalG, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789.
NineDot Energy, a community-scale battery energy storage systems developer, <a href="https://cms.mercomindia.com/ninedot-energy-secures-175-million-corporate-debt-facility/" target="_blank" rel="noopener">closed</a> a $175 million revolving debt facility with Deutsche Bank. The financing will support NineDot’s full development cycle, from grid interconnection deposits to equipment procurement and project construction. This new facility also enabled the company to repay its existing revolving credit facility, which had previously been used to fund interconnection deposits with NY Green Bank.
Enurgen, a developer of software solutions for assessing solar energy yield performance, <a href="https://cms.mercomindia.com/enurgen-raises-4-1-million-in-seed-funding/" target="_blank" rel="noopener">raised</a> $4.1 million in seed funding. The round was co-led by Business Development Bank of Canada, Brightspark, and Diagram, with participation from MaRS IAF. The company’s yield modeling software leverages physics-based models across the lifecycle of solar assets, and the investment is expected to accelerate the global expansion of Enurgen’s flagship software platform.
Glance Finance has announced an investment of ₹3.17 million (~$35,770.19) in the power transformer solutions company, Kotsons, through the <a href="https://www.mercomindia.com/glance-finance-to-acquire-62400-shares-in-kotsons-for-%E2%82%B93-17-million" target="_blank" rel="noopener">acquisition</a> of 62,400 equity shares. Each share carries a face value of ₹10 (~$0.11) and has been acquired at a price of ₹50.85 (~$0.57)/share. Following this transaction, Glance Finance’s total shareholding in KPL will increase from 719,656 shares, representing 5.14% of KPL’s equity, to 782,056 shares, equivalent to 5.59%. The acquisition is being carried out through the secondary market and is expected to be completed by October 31, 2025.
T1 Energy, a solar and battery manufacturing company, has <a href="https://cms.mercomindia.com/t1-energy-acquires-minority-stake-in-talon-pv/" target="_blank" rel="noopener">announced</a> the acquisition of a minority stake in Talon PV, a solar cell manufacturer.Agreement for Future Equity (SAFE), with both companies continuing discussions to potentially expand their strategic partnership. Both Texas-based companies aim to utilize advanced manufacturing technologies to produce TOPCon solar cells in the U.S.
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-opensolar-raises-20m-equity-funding/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Base Power Raises $1 Billion

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-base-power-raises-1-billion/" target="_blank" rel="noopener">Mercom Capital Group</a>
Texas-based Base Power has <a href="https://mercomcapital.com/base-power-raises-1-billion-in-series-c-funding/" target="_blank" rel="noopener">raised</a> $1 billion in Series C funding, led by Addition, to accelerate the deployment of its home battery storage solutions. Existing backers, such as Trust Ventures, Valor Equity Partners, Thrive Capital, Lightspeed, Andreessen Horowitz, Altimeter, StepStone, Elad Gil, 137 Ventures, Terrain, and Waybury, returned for the round. New investors include Ribbit, CapitalG, Spark, BOND, Lowercarbon, Avenir, Glade Brook, Positive Sum, and 1789.
NineDot Energy, a community-scale battery energy storage systems developer, <a href="https://mercomcapital.com/ninedot-energy-secures-175-million-corporate-debt-facility/" target="_blank" rel="noopener">closed</a> a $175 million revolving debt facility with Deutsche Bank. The financing will support NineDot’s full development cycle, from grid interconnection deposits to equipment procurement and project construction. This new facility also enabled the company to repay its existing revolving credit facility, which had previously been used to fund interconnection deposits with NY Green Bank.
Enurgen, a developer of software solutions for assessing solar energy yield performance, <a href="https://mercomcapital.com/enurgen-raises-4-1-million-in-seed-funding/" target="_blank" rel="noopener">raised</a> $4.1 million in seed funding. The round was co-led by Business Development Bank of Canada, Brightspark, and Diagram, with participation from MaRS IAF. The company’s yield modeling software leverages physics-based models across the lifecycle of solar assets, and the investment is expected to accelerate the global expansion of Enurgen’s flagship software platform.
Glance Finance has announced an investment of ₹3.17 million (~$35,770.19) in the power transformer solutions company, Kotsons, through the <a href="https://www.mercomindia.com/glance-finance-to-acquire-62400-shares-in-kotsons-for-%E2%82%B93-17-million" target="_blank" rel="noopener">acquisition</a> of 62,400 equity shares. Each share carries a face value of ₹10 (~$0.11) and has been acquired at a price of ₹50.85 (~$0.57)/share. Following this transaction, Glance Finance’s total shareholding in KPL will increase from 719,656 shares, representing 5.14% of KPL’s equity, to 782,056 shares, equivalent to 5.59%. The acquisition is being carried out through the secondary market and is expected to be completed by October 31, 2025.
T1 Energy, a solar and battery manufacturing company, has <a href="https://mercomcapital.com/t1-energy-acquires-minority-stake-in-talon-pv/" target="_blank" rel="noopener">announced</a> the acquisition of a minority stake in Talon PV, a solar cell manufacturer. The investment was made through a Simple Agreement for Future Equity (SAFE), with both companies continuing to discuss the potential expansion of their strategic partnership in the future. Both Texas-based companies aim to utilize advanced manufacturing technologies to produce TOPCon solar cells in the U.S.
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://mercomindia.com/funding-and-ma-roundup-opensolar-raises-20-million-equity-funding" target="_blank" rel="noopener">roundup</a>.

<a href="https://enurgen.com/" target="_blank" rel="noopener">Enurgen</a>, a developer of software solutions for assessing solar energy yield performance, raised $4.1 million in seed funding. The round was co-led by Business Development Bank of Canada, Brightspark, and Diagram, with participation from MaRS IAF.
The company&#8217;s yield modeling software leverages physics-based models across the lifecycle of solar assets, and the investment is expected to accelerate the global expansion of Enurgen&#8217;s flagship software platform.
&#8220;This funding marks a major milestone for Enurgen,&#8221; said Kibby Pollak, CEO and Co-Founder of Enurgen. &#8220;In an era dominated by AI and LLMs, it&#8217;s crucial to recognize that critical systems like energy infrastructure continue to rely on physics-based models for accurate and deterministic outputs.&#8221;
The platform provides high-resolution, 3D solar irradiance modeling, enabling incident light calculations to scale from individual solar cells to gigawatt-scale projects.
&#8220;Solar PV is becoming the dominant (renewable) energy source, with panel costs plummeting faster than almost any technology in history—yet the software ecosystem remains stuck in the past,&#8221; said Éléonore Jarry, Partner at Brightspark Ventures. &#8220;Enurgen&#8217;s unique blend of deep academic R&amp;D and strong commercial execution positions them perfectly to deliver the advanced 3D modelling infrastructure the industry desperately needs.&#8221;
Last Week, OpusFlow, a software platform for renewable energy installers, <a href="https://cms.mercomindia.com/opusflow-raises-4-5-million-in-an-oversubscribed-funding-round/" target="_blank" rel="noopener">raised</a> €3.8 million (~$4.5 million) in growth capital from lead investor Move Energy, alongside Rise PropTech and existing investor Peak.
According to Mercom&#8217;s 1H 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-and-q2-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>, VC funding activity decreased 7% year-over-year, with $2.5 billion raised in 32 deals in 1H 2025 compared to $2.7 billion from 29 deals in the first half of 2024. In Q2 2025, global VC funding activity declined 50% YoY, with $1.1 billion raised across 18 deals compared to $2.2 billion in 16 deals in Q2 2024.
In October, OpenSolar, a solar software platform, <a href="https://cms.mercomindia.com/solar-software-platform-opensolar-raises-20m-equity-funding/" target="_blank" rel="noopener">raised</a> $20 million in equity funding from Titanium Ventures, Google, 2150 Sustainability Fund, and other investors.  The new funding will enable further investment in its AI-driven technology solutions and support the expansion of its global coverage.

Enurgen Raises $4.1 Million in Seed Funding

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