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Terabase Energy, a digital solutions provider for solar power projects, <a href="https://cms.mercomindia.com/terabase-secures-130-million-in-series-c-funding/" target="_blank" rel="noopener">received</a> $130 million in a Series C funding round led by SoftBank Vision Fund 2, with participation from existing and new strategic investors. This round brings the company’s total funding to over $200 million. The company provides digitalization and automation solutions for utility-scale solar power projects through its platform, which is stated to combine AI, software, automation, SCADA, and project controls.
Catalyze, a project developer and Independent Power Producer of distributed renewable energy assets has <a href="https://cms.mercomindia.com/renewable-energy-developer-catalyze-secures-400-million-funding/" target="_blank" rel="noopener">secured</a> a $400 million multiyear debt facilityportfolio of commercial and industrial, community solar, and battery storage projects across the U.S.
Energy storage solutions provider AmpereHour Energy <a href="https://www.mercomindia.com/energy-storage-solutions-provider-amperehour-secures-5-million" target="_blank" rel="noopener">secured</a> $5 million (₹415 million) in a Series A funding round led by Avaana Capital, with participation from UC Impower and existing angel investors. The company will utilize the funds to accelerate its battery energy storage solutions deployment, enhance manufacturing capabilities, expand product offerings, and strengthen research and development efforts.
Amrut Energy, a solar water pump manufacturer and renewable energy solutions provider, <a href="https://www.mercomindia.com/amrut-energy-raises-%E2%82%B91-billion-to-expand-solar-water-pump-manufacturing" target="_blank" rel="noopener">secured</a> ₹1 billion (~$11.49 million) in funding from private equity investors. The company aims to utilize the investment to expand manufacturing capabilities, drive research and development, and scale operations across underserved regions.
Solar power systems company SWELECT Group <a href="https://www.mercomindia.com/swelect-raises-%E2%82%B92-9-billion-through-private-placement-with-india-infradebt" target="_blank" rel="noopener">secured</a> ₹2.9 billion (~$33.39 million) in funding through non-convertible debentures via a private placement with India Infradebt. This initiative, backed by a portion of its solar power assets, has released ₹2.6 billion (~$29.94 million) in cash collaterals. The funds will be reinvested to expand SWELECT’s independent power producer portfolio to 1 GW by 2026-27.
JSW Neo Energy, a wholly owned subsidiary of JSW Energy, <a href="https://www.mercomindia.com/jsw-neo-acquires-renewable-energy-firm-virya-infrapower-for-%E2%82%B975-4-million" target="_blank" rel="noopener">acquired</a> a 100% share in Virya Infrapower for ₹75.4 million (~$866,000) in an all-cash transaction. The acquisition was completed on March 12, 2025, the same day the share purchase agreement was signed. This purchase makes Virya Infrapower a step-down subsidiary of JSW Energy.
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-and-ma-roundup-tandem-pv-raises-50-million/" target="_blank" rel="noopener">roundup</a>.
&nbsp;

Funding and M&A Roundup: Terabase Energy Secures $130 Million

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-terabase-energy-secures-130-million/" target="_blank" rel="noopener">Mercom Capital Group</a>
Terabase Energy, a digital solutions provider for solar power projects, <a href="https://mercomcapital.com/terabase-secures-130-million-in-series-c-funding/" target="_blank" rel="noopener">received</a> $130 million in a Series C funding round led by SoftBank Vision Fund 2, with participation from existing and new strategic investors. This round brings the company’s total funding to over $200 million. The company provides digitalization and automation solutions for utility-scale solar power projects through its platform, which is stated to combine AI, software, automation, SCADA, and project controls.
Catalyze, a project developer and Independent Power Producer of distributed renewable energy assets has <a href="https://mercomcapital.com/renewable-energy-developer-catalyze-secures-400-million-funding/" target="_blank" rel="noopener">secured</a> a $400 million multiyear debt facilityportfolio of commercial and industrial, community solar, and battery storage projects across the U.S.
Energy storage solutions provider AmpereHour Energy <a href="https://www.mercomindia.com/energy-storage-solutions-provider-amperehour-secures-5-million" target="_blank" rel="noopener">secured</a> $5 million (₹415 million) in a Series A funding round led by Avaana Capital, with participation from UC Impower and existing angel investors. The company will utilize the funds to accelerate its battery energy storage solutions deployment, enhance manufacturing capabilities, expand product offerings, and strengthen research and development efforts.
Amrut Energy, a solar water pump manufacturer and renewable energy solutions provider, <a href="https://www.mercomindia.com/amrut-energy-raises-%E2%82%B91-billion-to-expand-solar-water-pump-manufacturing" target="_blank" rel="noopener">secured</a> ₹1 billion (~$11.49 million) in funding from private equity investors. The company aims to utilize the investment to expand manufacturing capabilities, drive research and development, and scale operations across underserved regions.
Solar power systems company SWELECT Group <a href="https://www.mercomindia.com/swelect-raises-%E2%82%B92-9-billion-through-private-placement-with-india-infradebt" target="_blank" rel="noopener">secured</a> ₹2.9 billion (~$33.39 million) in funding through non-convertible debentures via a private placement with India Infradebt. This initiative, backed by a portion of its solar power assets, has released ₹2.6 billion (~$29.94 million) in cash collaterals. The funds will be reinvested to expand SWELECT’s independent power producer portfolio to 1 GW by 2026-27.
JSW Neo Energy, a wholly owned subsidiary of JSW Energy, <a href="https://www.mercomindia.com/jsw-neo-acquires-renewable-energy-firm-virya-infrapower-for-%E2%82%B975-4-million" target="_blank" rel="noopener">acquired</a> a 100% share in Virya Infrapower for ₹75.4 million (~$866,000) in an all-cash transaction. The acquisition was completed on March 12, 2025, the same day the share purchase agreement was signed. This purchase makes Virya Infrapower a step-down subsidiary of JSW Energy.
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’s funding <a href="https://mercomcapital.com/funding-and-ma-roundup-tandem-pv-raises-50-million/" target="_blank" rel="noopener">roundup</a>.

<a href="https://www.terabase.energy/" target="_blank" rel="noopener">Terabase Energy</a>, a digital solutions provider for solar power plants, received $130 million in a Series C funding round led by SoftBank Vision Fund 2, with participation from both existing and new strategic investors. This round brings the company&#8217;s total funding to over $200 million.
The company provides digitalization and automation solutions for utility-scale solar power plants through its platform, which is stated to combine AI, software, automation, SCADA, and plant controls.
The funding will allow Terabase to deploy its technologies at scale. A significant portion of the funding is expected to be utilized to scale up the manufacturing of its Terafab robotics-assisted assembly line, which combines automation and digital systems to increase installation productivity.
The company states that it has already demonstrated Terafab&#8217;s capabilities by installing 40 MWs across various commercial projects in the U.S., with the goal of deploying hundreds of megawatts by 2026.
&#8220;SoftBank Vision Fund&#8217;s investment reflects our shared commitment to leveraging advanced technology to drive the future of renewable energy. This funding validates our mission and provides the resources to scale our platform, paving the way for the terawatt era of solar,&#8221; said Matt Campbell, CEO of Terabase.
In 2023, the company <a href="https://cms.mercomindia.com/terabase-raises-25-million-to-accelerate-its-solutions-for-solar-power-plants/" target="_blank" rel="noopener">received</a> $25 million in a new financing round led by Fifth Wall, with participation from EDP Ventures and existing investors.
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.
Last Year, Glint Solar, a company that provides software for solar developers, <a href="https://cms.mercomindia.com/glint-solar-raises-8-million-in-series-a-funding/" target="_blank" rel="noopener">raised</a> $8 million in a Series A funding round led by Smedvig Ventures with participation from Momentum, Futurum Ventures, and Antler.

Terabase Secures $130 Million in Series C Funding

<a href="https://www.terabase.energy/" target="_blank" rel="noopener">Terabase Energy</a>, a digital solutions provider for solar power plants, received $25 million in a new financing round led by Fifth Wall, with participation from EDP Ventures and existing investors.
This financing round will be used to support the commercial scale-up of the company’s recently launched Terafab construction automation system.
&#8220;The sustained financial backing we&#8217;re receiving is representative of the cross-industry enthusiasm surrounding Terabase&#8217;s mission,&#8221; said Matt Campbell, CEO and Co-Founder of Terabase. “This funding will enable us to expedite the scaling of Terafab production and will ensure that we are equipped to meet the rising demand effectively as we deploy Terafab.”
The Terafab system combines a digital twin of the project site, advanced supply chain and inventory management systems, an onsite wireless digital command center, a field-deployed automated assembly line, and specialized installation rovers.
Luís Manuel, Board Member at EDP Ventures, said, “Terabase is responding to the renewable energy sector’s need to scale faster as it seeks to meet ambitious growth targets over the next several decades. Its bold solutions through digitization and automation will play a meaningful role in increasing the industry’s capacity to build PV power plants more quickly and in more remote locations, aligned with EDP&#8217;s global commitment to expanding renewables.”
Recently, PVcase, a solar project design software provider, announced it had secured a joint <a href="https://cms.mercomindia.com/pvcase-raises-digitize-solar-project-design-software/" target="_blank" rel="noopener">investment</a> of $100 million, bringing the company’s total funding to over $123 million. Highland Europe, Energize, and existing investor Elephant participated in the round. The funding will help PVcase accelerate its product development, expand its global presence, and integrate its platform with other solutions.
According to Mercom’s recently released 1H and Q2 2023 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Report</a>, In 1H 2023, global VC funding activity rose 3% YoY, with $3.8 billion in 33 deals compared to $3.7 billion in 53 deals in the first half of 2022.

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