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State of play: Who did get funded in January

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Feb 6, 2023

January's climate-tech deal drought spared startups in a handful of climate tech sectors.

Why it matters: It's not all doom and gloom in the climate world, after all.

Solar: Investors continued to shine a light on companies working with solar producers in the U.S. and Europe.

  • Sunstone Credit, a Baltimore-based solar financing provider for businesses, raised $20 million in Series A funding from Greenbacker Capital Management.
  • SunRoof, a Swedish startup that makes energy-producing solar roofing, raised €13.5 million (~$14.6 million) in extension funding on Jan. 16. World Fund, Nordic Alpha Partners and L&G Capital participated in the all-equity round.
  • Tyba, a startup that makes predictive models for solar and storage projects, raised $2.25 million in seed funding from Powerhouse Ventures and Wireframe Ventures.
  • Silicon Ranch, a Nashville-based project developer and independent power producer, said it plans to raise $600 million in equity financing this year.

Ag tech: Investors are also plowing money into startups working on sustainable ways to produce food.

  • ReelData AI, a Halifax, Nova Scotia-based data software startup, raised $8 million in Series A funding from Buoyant Ventures, S2G Ventures and The Nest Family Office.
  • EnrichAg, a subsidiary of ag tech company Terramera that focuses on soil testing, raised $6 million of a planned $15 million Series A round from At One Ventures.

Battery tech: Although the jury is out on how to best invest in battery technology, investors are still willing to give the ecosystem a boost.

  • Vision Blue Resources, an investment fund targeting battery and technical materials, raised more than $61 million for its latest fund.
  • Noon Energy, a startup that makes high-density carbon-oxygen batteries, raised $28 million in Series A funding from Clean Energy Ventures and Aramco Ventures’ Sustainability Fund.
  • Redwood Materials, the U.S. battery recycling company whose partners include Ford Motor Company, raised $200 million in debt.
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