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Apricus Generation, a holding company designed to build a national distributed solar and battery development platform and independent power producer (IPP), <a href="https://cms.mercomindia.com/apricus-generation-acquires-controlling-stake-nexus-renewables/" target="_blank" rel="noopener">acquired</a> a controlling stake in Nexus Renewables, a developer, owner, and operator of solar and energy storage projects under various stages of construction and development.
Energy Park, an EV charging solution provider, <a href="https://cms.mercomindia.com/ev-charging-solution-provider-energy-park-funding/" target="_blank" rel="noopener">secured</a> an initial £35 million (~$45 million) investment from Zouk Capital, manager of the UK Government’s Charging Infrastructure Investment Fund. With this funding, the company is set to accelerate its plans to provide charging facilities to residential sites across the UK.
Gireve, a France-based EV charging solutions provider, <a href="https://cms.mercomindia.com/ev-charging-firm-gireve-million-funding/" target="_blank" rel="noopener">raised</a> €20 Million (~$22 million) in a fresh funding round from the investor Partech through its impact fund. Existing shareholders like EDF Group, ENEDIS, the Banque des Territoires (Caisse des Dépôts), and Demeter also participated in this funding round. With this funding, the company plans to accelerate its platform expansion in Europe and internationally.
Jakson Green, the renewable energy arm of the Jakson Group, has <a href="https://www.mercomindia.com/jakson-green-sustainability-boost-from-hsbc" target="_blank" rel="noopener">obtained</a> a sustainable trade facility of ₹600 million (~$7.1 million) from HSBC India. The trade facility will help bolster the company’s operational needs within the renewable energy sector in India and overseas.
Electric vehicle company Euler Motors has <a href="https://www.mercomindia.com/ev-firm-euler-secures-series-c-funding-round" target="_blank" rel="noopener">closed</a> its Series C funding round, securing ₹2 billion (~$23.9 million) and taking the total funding raised so far to ₹5.7 million (~$68,358). The round was led by internal investors such as British International Investment, Blume Venture, and new investor Piramal Alternatives India Access Fund. The newly acquired funds will be used to expand its nationwide presence and service infrastructure. By 2025, the company plans to operate in over 40 cities.
Maxvolt Energy, a manufacturer of lithium battery packs, has <a href="https://www.mercomindia.com/maxvolt-energy-secures-1-5-million" target="_blank" rel="noopener">raised</a> $1.5 million from angel investors to introduce fast-charging lithium-ion batteries and build recycling plants. The company said that the capital injection will support Maxvolt’s research and development into lithium battery architectures for electric vehicles such as scooters and rickshaws, energy storage systems, and medical devices.
Zypp Electric, an electric vehicle (EV)-as-a-service platform, has <a href="https://www.mercomindia.com/zypp-bags-15-million-to-expand-ev-fleet-across-15-cities-in-india" target="_blank" rel="noopener">raised</a> $15 million in its Series C funding round, allowing the company to expand its fleet from 21,000 to 200,000 e-scooters across 15 Indian cities by 2026. The funding round, led by Japanese major ENEOS, comprised $15 million in equity as part of its ongoing $50 million round, which includes $40 million in equity and $10 million in debt.
Maxeon Solar Technologies, a Singapore-based solar solutions provider, has <a href="https://cms.mercomindia.com/maxeon-solar-technologies-secures-debt-financing/" target="_blank" rel="noopener">secured</a> a $97.5 million debt financing from the company’s largest shareholder, TCL Zhonghuan Renewable Energy Technology (TZE). TZE also committed to an additional $100 million equity investment, in each case subject to regulatory approvals. The transaction will substantially dilute existing public shareholders, with TZE ultimately becoming a controlling shareholder. The funding infused will be used as capital to support the company’s operations.
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-recurrent-energy-secures-1-4-billion/" target="_blank" rel="noopener">roundup</a>.

Funding and M&A Roundup: Apricus Acquires Controlling Stake in Nexus

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					</table>From: <a href="https://mercomcapital.com/funding-ma-roundup-apricus-acquires-controlling-stake-in-nexus/" target="_blank" rel="noopener">Mercom Capital Group</a>
Apricus Generation, a holding company designed to build a national distributed solar and battery development platform and independent power producer (IPP), <a href="https://mercomcapital.com/apricus-generation-acquires-controlling-stake-nexus-renewables/" target="_blank" rel="noopener">acquired</a> a controlling stake in Nexus Renewables, a developer, owner, and operator of solar and energy storage projects under various stages of construction and development.
Energy Park, an EV charging solution provider, <a href="https://mercomcapital.com/ev-charging-solution-provider-energy-park-funding/" target="_blank" rel="noopener">secured</a> an initial £35 million (~$45 million) investment from Zouk Capital, manager of the UK Government’s Charging Infrastructure Investment Fund. With this funding, the company is set to accelerate its plans to provide charging facilities to residential sites across the UK.
Gireve, a France-based EV charging solutions provider, <a href="https://mercomcapital.com/ev-charging-firm-gireve-million-funding/" target="_blank" rel="noopener">raised</a> €20 Million (~$22 million) in a fresh funding round from the investor Partech through its impact fund. Existing shareholders like EDF Group, ENEDIS, the Banque des Territoires (Caisse des Dépôts), and Demeter also participated in this funding round. With this funding, the company plans to accelerate its platform expansion in Europe and internationally.
Jakson Green, the renewable energy arm of the Jakson Group, has <a href="https://www.mercomindia.com/jakson-green-sustainability-boost-from-hsbc" target="_blank" rel="noopener">obtained</a> a sustainable trade facility of ₹600 million (~$7.1 million) from HSBC India. The trade facility will help bolster the company’s operational needs within the renewable energy sector in India and overseas.
Electric vehicle company Euler Motors has <a href="https://www.mercomindia.com/ev-firm-euler-secures-series-c-funding-round" target="_blank" rel="noopener">closed</a> its Series C funding round, securing ₹2 billion (~$23.9 million) and taking the total funding raised so far to ₹5.7 million (~$68,358). The round was led by internal investors such as British International Investment, Blume Venture, and new investor Piramal Alternatives India Access Fund. The newly acquired funds will be used to expand its nationwide presence and service infrastructure. By 2025, the company plans to operate in over 40 cities.
Maxvolt Energy, a manufacturer of lithium battery packs, has <a href="https://www.mercomindia.com/maxvolt-energy-secures-1-5-million" target="_blank" rel="noopener">raised</a> $1.5 million from angel investors to introduce fast-charging lithium-ion batteries and build recycling plants. The company said that the capital injection will support Maxvolt’s research and development into lithium battery architectures for electric vehicles such as scooters and rickshaws, energy storage systems, and medical devices.
Zypp Electric, an electric vehicle (EV)-as-a-service platform, has <a href="https://www.mercomindia.com/zypp-bags-15-million-to-expand-ev-fleet-across-15-cities-in-india" target="_blank" rel="noopener">raised</a> $15 million in its Series C funding round, allowing the company to expand its fleet from 21,000 to 200,000 e-scooters across 15 Indian cities by 2026. The funding round, led by Japanese major ENEOS, comprised $15 million in equity as part of its ongoing $50 million round, which includes $40 million in equity and $10 million in debt.
Maxeon Solar Technologies, a Singapore-based solar solutions provider, has <a href="https://mercomcapital.com/maxeon-solar-technologies-secures-debt-financing/" target="_blank" rel="noopener">secured</a> a $97.5 million debt financing from the company’s largest shareholder, TCL Zhonghuan Renewable Energy Technology (TZE). TZE also committed to an additional $100 million equity investment, in each case subject to regulatory approvals. The transaction will substantially dilute existing public shareholders, with TZE ultimately becoming a controlling shareholder. The funding infused will be used as capital to support the company’s operations.
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://www.mercomindia.com/funding-and-ma-roundup-recurrent-energy-secures-1-4-billion" target="_blank" rel="noopener">roundup</a>.

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					</table><a href="https://www.zypp.app/" target="_blank" rel="noopener">Zypp Electric</a>, an electric vehicle (EV)-as-a-service platform, has raised $15 million in its Series C funding round, allowing the company to expand its fleet from 21,000 to 200,000 e-scooters across 15 Indian cities by 2026.
The funding round, led by Japanese major <a href="https://www.eneos.co.jp/english/" target="_blank" rel="noopener">ENEOS</a>, comprised $15 million in equity as part of its ongoing $50 million round, which includes $40 million in equity and $10 million in debt.
The round saw participation from existing investors such as <a href="https://www.9unicorns.in/" target="_blank" rel="noopener">9unicorns</a>, <a href="https://www.ian.fund/" target="_blank" rel="noopener">IAN fund</a>, <a href="https://venturecatalysts.in/" target="_blank" rel="noopener">Venture Catalysts</a>, and WFC.
&#8220;This investment propels our mission to revolutionize last-mile delivery with sustainable EV solutions. We are eager to expand our fleet and enhance our tech platform, driving significant growth across India. These funds will be utilized to drive the company towards the full path of growth along with EBITDA profitability,&#8221; said Akash Gupta, co-founder and CEO of Zypp.
Last year, Gupta <a href="https://www.mercomindia.com/ev-makers-expect-tax-cuts-incentives-budget-2023" target="_blank" rel="noopener">mentioned</a> that GST reductions levied on EVs were essential for EV-led services such as battery swapping and last-mile delivery.
The company, which logged a revenue of ₹3.25 billion (~$39.08 million) in FY23-24, recently launched operations in Mumbai and Hyderabad. According to a press release, Zypp has entered the three-wheeler cargo business and is poised to surpass 1,000 electric L5 loaders in its fleet.
&#8220;In India, the last-mile delivery market is skyrocketing, especially within urban areas. Zypp is operating its business as a pioneer in the EV motorcycle delivery market with competitiveness, and this is the reason why we made the decision to invest,&#8221; said a representative from ENEOS.
In the first quarter of 2024, the sale of EVs in India <a href="https://www.mercomindia.com/ev-sales-sustain-growth-momentum-q1-2024" target="_blank" rel="noopener">touched</a> a record high with 486,669 units, registering a 40% year-over-year increase from the corresponding quarter in 2023.

Zypp Bags $15 Million to Expand EV Fleet Across 15 Cities in India

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