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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-battery-company-cmblu-secures-105-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>CMBlu Energy, an organic solid flow battery technology developer, </strong><a href="https://mercomcapital.com/organic-flow-battery-company-cmblu-energy-secures-105-million-financing/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> €100 million (~$105 million) equity investment</strong> from globally operating technology and construction group STRABAG SE. The funding will be used to scale up the company’s battery technology production. CMBlu Energy, together with collaboration partners, is currently working on multiple pilot projects in the U.S. and Europe to prove its large-scale energy storage solutions.</p>
<p><strong>PMI Electro Mobility Solutions, an electric bus manufacturer based in Delhi National Capital Region, has </strong><a href="https://www.mercomindia.com/electric-bus-manufacturer-investment-from-piramal" target="_blank" rel="noopener"><strong>secured</strong></a> a ₹2.5 billion (~$150.29 million) investment from Piramal Alternatives through the Performing Credit Fund in the form of convertible securities to advance green mobility efforts, facilitating innovation, technological integration and business expansion. ICICI Securities was the advisor to PMI Electro Mobility for the fundraising.</p>
<p><strong>Omnidian, a provider of solar asset management solutions, <a href="https://mercomcapital.com/solar-asset-management-company-omnidian/" target="_blank" rel="noopener">closed</a> a $25 million funding round</strong> which saw participation from existing investors Activate Capital, WIND Ventures, Avista Development,  Evergy Ventures, National Grid Partners, Congruent Ventures, Blue Bear Capital, and new investor HSBC Asset Management. Part of the capital funding will be used to further technical innovation to give clients improved transparency into portfolio performance, job site status, and active remediations.</p>
<p><strong>Circu Li-ion, a battery recycling startup, </strong><a href="https://mercomcapital.com/battery-recycling-startup-cicu-raises-funding/" target="_blank" rel="noopener"><strong>raised</strong></a><strong> €8.5 million (~$9 million) in seed funding. The funding includes €4.5 million (~$4.8 million)</strong> in equity, which was led by BonVenture, and additional backing from an undisclosed investor. The investment is complemented by €4 million (~$4.2 million) in grants from the European Innovation Council Accelerator and collaborations with recyclers and OEMs. The funding will be utilized to expand the company’s AI-driven battery upcycling solution and develop a battery recycling data repository.</p>
<p><strong>Inlyte Energy, a developer of batteries for grid-scale energy storage, </strong><a href="https://mercomcapital.com/inlyte-energy-secures-8-million-seed-funding/" target="_blank" rel="noopener"><strong>secured</strong></a><strong> $8 million in seed funding </strong>to develop the first generation of its grid batteries made with iron and table salt. The funding round was by At One Ventures with participation from First Spark Ventures, Valo Ventures, TechEnergy Ventures, Climate Capital, Anglo American, and others. The company claims that its batteries will have the lowest cost once manufacturing is scaled; iron and salt are also locally produced in almost all parts of the world and avoid external supply chains.</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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-erapid-raises-32-million" target="_blank" rel="noopener">roundup</a>.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Funding and M&A Roundup: Battery Company CMBlu Secures $105 Million

<p>Solar system performance plan provider <a href="https://www.omnidian.com/" target="_blank" rel="noopener">Omnidian</a> has secured $33 million in a Series B capital raise led by Activate Capital. The company expects to use the fund to expand into new market segments such as energy storage, electric vehicle (EV) charging, and heating, ventilation, and air conditioning (HVAC). Omnidian also expects this raise will enable its international expansion.</p>
<p>The new round of funding saw participation from existing investors City Light Capital, IA Capital, Evergy Ventures, Avista Development, Congruent Ventures, Centrica, National Grid Partners, Energy Foundry, and Blue Bear Capital. Liberty Mutual Insurance and WIND Ventures, the strategic venture capital arm of Chilean multinational energy firm Copec, participated in the round.</p>
<p>“This successful raise is a validation of what Omnidian has accomplished over the past four years. Residential and commercial solar is moving into mainstream adoption, and with that comes the demand for a higher level of service and assurance that a customer’s system is operating as expected,” said Mark Liffmann, founder and CEO of Omnidian.</p>
<p>“Our new capital partners share our vision of providing solar energy customers with a lower cost of ownership, less risk, and a transformational customer experience. The capital will also enable expansion into new asset classes including energy storage, EV charging, and HVAC,” he said.</p>
<p>The new round of funding comes on the heels of Omnidian’s rapid growth phase. The firm has launched a service for energy storage, both at the residential and commercial, and industrial levels, in addition to its existing solar performance plans. The company will aim to increase the more than 1.7 GW it currently manages for customers.</p>
<p>Earlier this month, <a href="https://www.arcadia.com/" target="_blank" rel="noopener">Arcadia</a>, a clean energy platform that connects homeowners to clean energy programs in the United States, <a href="https://mercomindia.com/clean-energy-platform-arcadia-raises/" target="_blank" rel="noopener">secured</a> $100 million in funding. The company plans to use the funding to accelerate its technology roadmap and increase product capabilities across new verticals. The company considers electric vehicles and distributed energy resources as new verticals that would spur innovation making renewables more accessible and cheaper.</p>
<p>Solar companies raised $1.6 billion in VC funding in the first half of 2021, according to <a href="https://mercomcapital.com/product/1h-q2-2021-solar-funding-ma-report/" target="_blank" rel="noopener">Mercom’s 1H and Q2 2021 Solar Funding and M&amp;A Report</a>. The funding raised was 680% higher compared to the $210 million raised in the first half of 2020.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Solar Asset Management Platform Omnidian Raises $33 Million in Series B Round

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