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Cornish Lithium, a U.K.-based mineral exploration and development company, has <a href="https://cms.mercomindia.com/cornish-lithium-secures-67-million-funding/" target="_blank" rel="noopener">secured</a> a $67 million direct equity investment led by UK Infrastructure Bank alongside the Energy &amp; Minerals Group (EMG) and TechMet. The funding is expected to significantly accelerate progress toward creating a domestic supply of battery-grade lithium compounds, which is crucial to support the scaling up of domestic battery production for electric vehicles and battery energy storage solutions for renewable energy sources.
d.light, a provider of solar-based products and solutions, <a href="https://www.prnewswire.com/news-releases/dlight-closes-usd125m-funding-through-a-securitization-facility-to-meet-growing-demand-for-off-grid-solar-products-in-tanzania-301898953.html" target="_blank" rel="noopener">secured</a> a $30 million securitization facility from Eastern and Southern African Trade and Development Bank Group, with the capability to purchase up to $125 million of receivable assets. The facility brings the company’s total securitized financing since 2020 to $490 million. d.light is expected to use the capital to increase its existing securitized financing facility and scale up its low-cost Pay-Go personal finance service in Tanzania.
Treehouse, a home electric vehicle (EV) charging solutions provider, has <a href="https://cms.mercomindia.com/home-ev-charging-solutions-provider-treehouse-secures-funding/" target="_blank" rel="noopener">secured</a> $10 million in funding. The funding round was led by Montage Ventures and Trucks Venture Capital, with participation from CarMax, Assurant Ventures, Acrew Capital, Gutter Capital, Detroit Venture Partners, Holman, and Automotive Ventures. The funding will be utilized to expand the company’s installation-as-a-service offering to more than 30 states in the next 12 months.
STANLIB Asset Management, an investor in sustainable infrastructure in South Africa, has <a href="https://stanlib.com/2023/08/07/stanlib-asset-management-acquires-a-majority-interest-in-renewable-energy-solutions-specialist-solareff-and-its-subsidiary-gridcars/" target="_blank" rel="noopener">acquired</a> a majority stake in Solareff, an engineering, procurement, and construction company. The acquisition was made through the STANLIB Infrastructure Fund II. Closing of the transaction remains subject to obtaining the relevant regulatory approvals. Solareff is also the controlling shareholder of GridCars, a company that provides electric vehicle charging infrastructure in South Africa.
Indian EV charging solutions startup chargeMOD has <a href="https://www.mercomindia.com/ev-charging-chargemod-%e2%82%b925-million-product-growth" target="_blank" rel="noopener">raised</a> ₹25 million (~$301,291) from Phoenix Angels in a pre-seed investment round. The company plans to direct the funds to accelerate its product growth and expand the services for the country’s EV sector. chargeMOD’s portfolio currently includes managing more than 2,000 EV chargers ranging from home and commercial use charging points. It has also developed a mobile application to track nearby charging stations.
Caelux Corporation, a company developing perovskite-based solar technology to enhance module efficiency, <a href="https://cms.mercomindia.com/perovskite-based-solar-tech-firm-caelux-raises-series-a-funding/" target="_blank" rel="noopener">closed</a> a $12 million Series A3 funding round, bringing the total Series A funding raised to $24 Million. The round was led by Temasek, a global investment company, with participation from Reliance New Energy Limited, Khosla Ventures, Mitsui Fudosan, and Fine Structure Ventures.
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/funding-and-ma-roundup-battery-developer-altris-raises-5-2-million/">here</a>.
Read last week&#8217;s funding <a href="https://cms.mercomindia.com/funding-and-ma-roundup-electriq-power-goes-public-via-spac-deal/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Cornish Lithium Secures $67 Million Funding

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					</table>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-cornish-lithium-secures-67-million-funding/" target="_blank" rel="noopener">Mercom Capital Group</a>
Cornish Lithium, a U.K.-based mineral exploration and development company, has <a href="https://mercomcapital.com/cornish-lithium-secures-67-million-funding/" target="_blank" rel="noopener">secured</a> a $67 million direct equity investment led by UK Infrastructure Bank alongside the Energy &amp; Minerals Group (EMG) and TechMet. The funding is expected to significantly accelerate progress toward creating a domestic supply of battery-grade lithium compounds, which is crucial to support the scaling up of domestic battery production for electric vehicles and battery energy storage solutions for renewable energy sources.
d.light, a provider of solar-based products and solutions, <a href="https://www.prnewswire.com/news-releases/dlight-closes-usd125m-funding-through-a-securitization-facility-to-meet-growing-demand-for-off-grid-solar-products-in-tanzania-301898953.html" target="_blank" rel="noopener">secured</a> a $30 million securitization facility from Eastern and Southern African Trade and Development Bank Group, with the capability to purchase up to $125 million of receivable assets. The facility brings the company’s total securitized financing since 2020 to $490 million. d.light is expected to use the capital to increase its existing securitized financing facility and scale up its low-cost Pay-Go personal finance service in Tanzania.
Treehouse, a home electric vehicle (EV) charging solutions provider, has <a href="https://mercomcapital.com/home-ev-charging-solutions-provider-treehouse-secures-funding/" target="_blank" rel="noopener">secured</a> $10 million in funding. The funding round was led by Montage Ventures and Trucks Venture Capital, with participation from CarMax, Assurant Ventures, Acrew Capital, Gutter Capital, Detroit Venture Partners, Holman, and Automotive Ventures. The funding will be utilized to expand the company’s installation-as-a-service offering to more than 30 states in the next 12 months.
STANLIB Asset Management, an investor in sustainable infrastructure in South Africa, has <a href="https://stanlib.com/2023/08/07/stanlib-asset-management-acquires-a-majority-interest-in-renewable-energy-solutions-specialist-solareff-and-its-subsidiary-gridcars/" target="_blank" rel="noopener">acquired</a> a majority stake in Solareff, an engineering, procurement, and construction company. The acquisition was made through the STANLIB Infrastructure Fund II. Closing of the transaction remains subject to obtaining the relevant regulatory approvals. Solareff is also the controlling shareholder of GridCars, a company that provides electric vehicle charging infrastructure in South Africa.
Indian EV charging solutions startup chargeMOD has <a href="https://www.mercomindia.com/ev-charging-chargemod-%e2%82%b925-million-product-growth" target="_blank" rel="noopener">raised</a> ₹25 million (~$301,291) from Phoenix Angels in a pre-seed investment round. The company plans to direct the funds to accelerate its product growth and expand the services for the country’s EV sector. chargeMOD’s portfolio currently includes managing more than 2,000 EV chargers ranging from home and commercial use charging points. It has also developed a mobile application to track nearby charging stations.
Caelux Corporation, a company developing perovskite-based solar technology to enhance module efficiency, <a href="https://mercomcapital.com/perovskite-based-solar-tech-firm-caelux-raises-series-a-funding/" target="_blank" rel="noopener">closed</a> a $12 million Series A3 funding round, bringing the total Series A funding raised to $24 Million. The round was led by Temasek, a global investment company, with participation from Reliance New Energy Limited, Khosla Ventures, Mitsui Fudosan, and Fine Structure Ventures.
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>.
Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-electriq-power-goes-public" target="_blank" rel="noopener">roundup</a>.

<a href="https://treehouse.pro/" target="_blank" rel="noopener">Treehouse</a>, a home EV charging solutions provider, has secured  $10 million in funding. The funding round was led by Montage Ventures and Trucks Venture Capital, with participation from CarMax, Assurant Ventures, Acrew Capital, Gutter Capital, Detroit Venture Partners, Holman, and Automotive Ventures.
The funding will be utilized to expand the company&#8217;s installation-as-a-service offering to more than 30 states in the next 12 months.
&#8220;Decarbonizing homes is an urgent task, with over 1 billion machines needing to be replaced or upgraded on the path to decarbonizing US homes in the next 15 years,&#8221; said Eric Owski, CEO and Co-Founder of Treehouse. &#8220;This funding round will allow us to rapidly expand our geographic footprint and solve core technical problems that have been barriers to scale in this industry until now.&#8221;
<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=3939708-1&amp;h=3793811939&amp;u=https%3A%2F%2Fwww.eei.org%2Fen%2Fnews%2Fnews%2Fall%2Feei-projects-26-million-electric-vehicles-will-be-on-us-roads-in-2030&amp;a=The+Edison+Electric+Institute" target="_blank" rel="noopener">The Edison Electric Institute</a> projects that 26.4 million electric vehicles will be on U.S. roads in 2030, meaning that EVs will make up nearly 10% of the 259 million cars and light trucks on the road in less than eight years.
Treehouse&#8217;s pricing technology allows EV buyers to receive an instant quote for home charging installation at the point of sale in auto retail locations or via API while applying for vehicle financing. Instant pricing allows home charging to be integrated directly into the vehicle loan, reducing barriers to affordability for home charging.
According to Mercom&#8217;s 1H And Q2 2023 Funding and M&amp;A <a href="https://cms.mercomindia.com/product/1h-q2-2023-funding-ma-report-storage-grid/" target="_blank" rel="noopener">Report</a> for Storage &amp; Smart Grid, VC funding in Smart Grid companies in 1H 2023 was 32% higher, with $986 million compared to the $746 million raised in 1H 2022.
Recently, ev.energy, a provider of EV charging software solutions, <a href="https://cms.mercomindia.com/ev-energy-raises-33-million-in-series-b-funding/" target="_blank" rel="noopener">raised</a> $33 million in Series B funding, bringing the total capital raised by the company to $46 million. This funding round will enable ev.energy to expand its global operations.

Home EV Charging Solutions Provider Treehouse Secures $10 Million Funding

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