From: Mercom Capital Group

SAX Power, a manufacturer of energy storage systems, completed its third funding round, raising €10 million (~$11.6 million) from a consortium of international and regional investors. The round was led by Yotta Capital Partners, a Paris-based private equity firm, with participation from Alb-Donau-Ulm Kapital, the investment company of Sparkasse Ulm, and other private investors. WIPIT advised SAX Power on the transaction. The new funding will enable SAX Power to strengthen its market position and advance industrial scaling efforts.

Solar module manufacturer Goldi Solar secured ₹14.22 billion (~$161.07 million) in growth capital in a funding round led by Havells India, high-net-worth individuals, and institutional and strategic investors. Goldi Solar will utilize the funding to expand its manufacturing capacity, strengthen backward integration into solar cell production, accelerate its innovation initiatives in high-efficiency solar technologies, and broaden the company’s go-to-market efforts.

Sawa Energy, a provider of solar and energy storage solutions for businesses in East Africa, raised €2.5 million (~$2.8 million) in equity funding from ElectriFI, an EU-funded Electrification Financing Initiative managed by EDFI Management Company. The investment, channeled through the Uganda Country Window of ElectriFI, will be used to accelerate the company’s rollout of solar and battery energy storage solutions for commercial and industrial clients across Uganda.

Beyond Renewables & Recycling, a solar module recycling startup, raised ₹50 million (~$563,281) in pre-seed funding led by Momentum Capital to accelerate the development of its proprietary recycling technology, strengthen its waste supply chain, and scale operations. The company stated that it employs a combination of advanced thermal and chemical treatments to extract aluminum, glass, silicon, copper, and precious metals, including silver, with high purity.

Electric vehicle powertrain design and manufacturing company Tsuyo raised ₹400 million (~$4.82 million) in a Pre-Series A funding round led by Avaana Capital. The funding will be used to establish Tsuyo’s third greenfield manufacturing facility for high-wattage electric motors and transmission assemblies, as well as a second advanced research and development center dedicated to power electronics, embedded systems, and prototype development.

For reports and trackers on funding and M&A transactions in solar, energy storage, and smart grid sectors, click here.

Read last week’s funding roundup.