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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-pvcase-raises-100-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>PVcase, a solar project design software provider</strong><strong>, has <a href="https://mercomcapital.com/pvcase-raises-digitize-solar-project-design-software/" target="_blank" rel="noopener">secured</a> an investment of $100 million, bringing the company’s total funding to over $123 million</strong>. Highland Europe, Energize, and existing investor Elephant participated in the round. The funding is expected to help PVcase accelerate its product development, expand its global presence, and integrate its platform with other industry-leading solutions.</p>
<p><strong>Peaxy, a cloud software company specializing in battery lifecycle analytics, has <a href="https://mercomcapital.com/peaxy-raises-boost-battery-lifecycle-analytics-platform/" target="_blank" rel="noopener">secured</a> $12 million in a Series B2 funding round to transform battery lifecycle analytics and digital twins. </strong>The new funding will enable Peaxy to accelerate the development and deployment of its flagship product, Peaxy Lifecycle Intelligence (PLI), a cloud-based predictive analytics platform.</p>
<p><strong>ROCSYS, a provider of r</strong><strong>obotic solutions for electric vehicle charging, <a href="https://mercomcapital.com/rocsys-raises-boost-autonomous-charging-for-evs/" target="_blank" rel="noopener">announced</a> that it has raised $36 million in a Series A funding round</strong> led by SEB Greentech Venture Capital; the round also includes participation from Graduate Entrepreneur, the European Investment Bank, and returning investor Forward.One. The funding will enable ROCSYS to expand its product portfolio, grow its team, and scale up its operations in Europe and North America. The company will also use the funds to accelerate the development and deployment of its autonomous charging solutions for passenger cars, trucks, and buses.</p>
<p><strong>Neuron Energy, a Mumbai-based lithium-ion battery manufacturer, has </strong><a href="https://www.mercomindia.com/neuron-energy-raises-%e2%82%b9200-battery-manufacturing" target="_blank" rel="noopener"><strong>raised</strong></a><strong> ₹200 million (~$2.4 million) in its pre-series A round</strong>. The investment was led by Equanimity Investments and the Rajiv Dadlani Group. It also saw participation from Chona Family Office (Havmor Group) and Kayenne Ventures. The funds will be used to secure ICAT certifications, invest in mold development, and strengthen the workforce by expanding the research and development team and hiring CXOs and senior management.</p>
<p><strong>TROES, an energy storage company, </strong><a href="https://www.businesswire.com/news/home/20230731201953/en/TROES-Corp.-Successfully-Closes-Pre-Series-A-Funding-Round-and-Initiates-Series-A-Financing-Demonstrating-Strong-Growth-Potential-in-Energy-Storage-Centered-Microgrid-Solutions" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the successful closing of its Pre-Series A funding. The Silicon Valley-based Mobility Innovation Fund led the round</strong>, managed by leading global automotive enterprises SAIC Motor and Wanxiang Group. In addition to the equity investment, TROES will receive trading support from this group, utilizing a substantial credit facility provided by JP Morgan to meet the fast-growing customer demand better.</p>
<p>Click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a> for reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors.</p>
<p>Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-shell-completes-acquisition-of-sprng-energy/" target="_blank" rel="noopener">roundup</a>.</p>
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<p>July 19, 2023 CORRECTION: Inaccurately listed investors under Peaxy deal have been removed.</p>


Funding and M&A Roundup: PVcase Raises $100 Million to Digitize Solar Project Design


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					</table><p><a href="https://www.neuronenergy.in/" target="_blank" rel="noopener">Neuron Energy</a>, a Mumbai-based lithium-ion battery manufacturer, has raised ₹200 million (~$2.4 million) in its pre-series A round.</p>
<p>The investment was led by <a href="https://www.equanimityinvestments.com/" target="_blank" rel="noopener">Equanimity Investments</a> and the Rajiv Dadlani Group. It also saw participation from Chona Family Office (<a href="https://www.havmor.com/" target="_blank" rel="noopener">Havmor Group</a>) and Kayenne Ventures.</p>
<p>The funds will be used to secure ICAT certifications, invest in mold development, and strengthen the workforce by expanding the research and development team and hiring CXOs and senior management.</p>
<p>The funding will fuel Neuron&#8217;s expansion of Li-ion smart batteries for EV two-wheelers and three-wheelers while aiding the brand&#8217;s venture into drone batteries.</p>
<p>The company offers lithium-ion and lead-acid batteries specifically designed for e-bikes, e-rickshaws, and golf carts.</p>
<p>Commenting on the funds raised, Pratik Kamdar, CEO &amp; Co-Founder of Neuron Energy, said the funds raised will enhance the company’s manufacturing capabilities and bolster the workforce.</p>
<p>Rajesh Sehgal, Managing Partner of Equanimity Investments, commented, “The EV landscape in India is evolving and is expected to gain pace in the coming years, as India moves towards a well-planned holistic trajectory by making significant progress towards an electric future. This also makes battery manufacturing a huge opportunity, as it is at the heart of the energy ecosystem transition.”</p>
<p>Rajiv Dadlani said, &#8220;As long-term growth investors, we recognize the enormous opportunity of the EV industry. Neuron Energy demonstrates the remarkable potential to become the market leader with their exceptional efficiency in delivering top-quality products.”</p>
<p>Dadlani added that the company and its founders are highly committed to delivering rigorously tested and safe-to-use li-Ion smart batteries, a key factor that has sparked significant investor interest.</p>
<p>In addition to the funding, Neuron Energy seeks to establish a strategic partnership with a leading EV two-wheeler manufacturer to establish a dedicated facility.</p>
<p>In December 2022, Neuron Energy <a href="https://www.mercomindia.com/neuron-energy-to-invest-%e2%82%b9500-million-in-battery-production" target="_blank" rel="noopener">announced</a> it would invest ₹500 million ($6.04 million) to increase production capacity. The investment will be split into ₹350 million ($4.2 million) of working capital and ₹150 million ($1.8 million) of equity from the promoters and strategic partners.</p>
<p>Electric vehicle sales in India <a href="https://www.mercomindia.com/electric-vehicle-sales-q2-2023" target="_blank" rel="noopener">grew</a> by 66% year-over-year to 371,340 units in the second quarter of 2023, compared to 223,293 units sold in the corresponding quarter last year.</p>


Neuron Energy Raises ₹200 Million to Expand EV Battery Manufacturing

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