$102 Million in VC Funding Pours into Grid-Related Sectors for Q3 2016
$625 million goes to Battery Storage residential and commercial project funds
October 24, 2016
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Smart Grid, Battery Storage and Efficiency companies raised $102 million in venture capital funding (including private equity and corporate venture capital) in Q3 2016. The top funded company was an Efficiency company, ecobee, a manufacturer of a Wi-Fi-enabled smart thermostat, with $35 million raised from Amazon Alexa Fund, Thomvest and Relay Ventures. Skeleton Technologies, a developer and manufacturer of ultracapacitors, raised $14.5 million from FirstFloor Capital, UP Invest and Harju Elekter in the second largest deal. Sense, a developer of a home energy monitoring system, rounded out the top three, with $14 million raised from Shell Technology Ventures, Energy Impact Partners, Capricorn Investment Group, Prelude Ventures, CRV and Bolt.
