Energy and climate deals of the week

Venture Capital

• Base Power, an Austin, Texas-based home battery startup led by Zach Dell, raised $1b in Series D funding at a $13b post-money valuation from Ribbit, Addition, Valor Equity Partners, and JPMorganChase, Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, and Energy Impact Partners and insiders Thrive Capital, a16z, Lightspeed, Trust Ventures, and CapitalG. Go deeper

• Iceye, a Finnish satellite observation provider, raised €1b in Series F funding led by Scaleup Europe Fund. Go deeper

• Valar Atomics, an El Segundo, Calif.-based developer of small nuclear reactors, raised $1b in Series B funding at a $6b post-money valuation. Sequoia Capital led, joined by Atreides Management, Point72, and Snowpoint Ventures. Valar also secured a $200m credit facility. Go deeper

• Mariana Minerals, a Houston-based mining tech firm, raised $310m in Series B funding at a $1.5b post-money valuation. Khosla Ventures led, joined by a16z, Breakthrough Energy Ventures, Greenoaks, Greycroft, Halo Fund, Pax Ventures, StepStone Group, BHP Ventures, Washington Harbour Partners, and Mitsubishi. Go deeper

• Moove, a UAE-based autonomous mobility startup, raised $250m in Series C funding at a $2.1b valuation. Mubadala led, joined by Woven Capital, Toyota's Growth Fund, and Ion Pacific. Go deeper

• River, an Indian EV maker, raised $120m in Series C funding. Elev8 Venture Partners and Claypond Capital led, joined by Singularity AMC, Anicut Capital, 360 ONE Asset, JIF Capital, HDFC AMC and insiders Yamaha Motors, Al-Futtaim Group, and Mitsui. Go deeper

• NavVis, a German digital twin platform for construction and industrial customers, raised $85m. The Jordan Co. led, joined by Yttrium, Kozo Keikaku Engineering, and Cipio Partners. Go deeper

• Ore Energy, a Dutch developer of long-storage batteries, raised $43m in Series A funding. Plural and HV Capital led, joined by Positron Ventures. Go deeper

• WindBorne Systems, a Palo Alto-based maker of smart weather balloons, raised $37m in Series B funding led by Khosla Ventures and Galvanize. Go deeper

• Ambrook, a bookkeeping startup for agriculture, raised $30m in Series B funding. Lachy Groom led, joined by Thomson Reuters Ventures, Thrive Capital, Field Ventures, and Cameron Ventures. Go deeper

• Chargepoly, a French startup focused on electrifying heavy-duty and commercial vehicle fleets, raised €23m. Meridiam led, joined by Fidève Groupe. Go deeper

• AEM, a U.K. maker of rare earth and magnet-free electric motors, raised £16m from Barclays Climate Ventures, PXN Ventures, Northstar Ventures, and Low Carbon Innovation. Go deeper

• Matel Motion & Energy Solutions, an Indian maker of electric motors and powertrains, raised ~$15m in Series B funding. UC Impower led, joined by Catamaran and Transition VC. Go deeper

• Atlas Motion, a physical AI supply chain security startup, raised $11.5m from Greycroft and Also Capital. Go deeper

• Naked Energy, a U.K.-based solar thermal developer for businesses, raised €10.4m. Great British Energy led, joined by Barclays Climate Ventures. Go deeper

• Plantible Foods, a San Marcos, Calif.-based plant protein producer, raised $10m from RA Capital and insiders. It also closed a $25m loan from X-Caliber Rural Capital. Go deeper

• Mitti Labs, a startup focused on reducing methane emissions from rice farming, raised $9.5m in Series A funding. Aramco Ventures led, joined by Lightspeed, Godrej Industries Group, Cisco Foundation, Francis Family Fund, and Volta Circle. Go deeper

• SiteVue AI, a Nashville, Tenn.-based manufacturing video analytics company, raised $7.5m. Penny Jar Capital and Overture led, joined by Silence, Spring Bank, Mana Ventures, Outset Capital, WaterStone, and Untapped Ventures. Go deeper

• InsectBiotech, a Spanish startup using fly larvae to convert ag byproducts into protein, oil, and fertilizer, raised €7.2m from investors like Arcano Partners. Go deeper

• Avatar Robotics, a maker of industrial labor robots, raised $6.5m in seed funding. AlleyCorp led, joined by Defy VC, and Headline. Go deeper

• LoopX, a Canadian developer of mining intelligence software, raised C$4.1m in seed funding led by BDC Seed Venture Fund and Orion Industrial Ventures. Go deeper

• Perceptual Robotics, a U.K.-based developer of wind turbine inspection and maintenance solutions, raised over £4m from Investing for Purpose, Loggerhead Ventures, and One Planet Capital. Go deeper

• Shelfmark, a Pittsburgh-based manufacturing monitoring startup, raised $3.5m in seed funding. Armory Square Ventures led, joined by Grand Ventures, Hyde Park Angels, Argon Ventures, and Cultivation Capital. Go deeper

• FuVeX, a Spanish developer of long-range, dual-use drones, raised €3m from Sodena, Sego Venture, and Izertis Ventures. Go deeper

• SCO2, a Little Canada, Minn.-based startup capturing carbon emissions from food waste, says it raised $2.7m in seed funding from undisclosed investors. Go deeper

Private Equity

• Arcwood Environmental, a portfolio company of EQT and Ardian, acquired Environmental Management Services, a Rockland, Md.-based waste management company. Go deeper

• Convey, backed by EIP and OceanSound, acquired Selectron, a provider of government and utility software. Go deeper

• Facility Grid, a Nexa Equity portfolio company, acquired PingCx, an NYC-based autonomous commissioning platform for building automation systems. Go deeper

• I Squared Capital agreed to acquire Cella, an Indonesian industrial logistics and cold storage platform, from NWP Property and CRE. Go deeper

• KKR agreed to buy a 50% stake in TotalEnergies' (Paris: TTE) European onshore solar and wind assets for €1.08b. Go deeper

• Meanwhile, TotalEnergies is buying Shell's European onshore renewables business.

• Macquarie Capital acquired a 49% stake in a new joint venture with Italian renewables developer Chiron Energy. Go deeper

• Partners Group agreed to invest around $1b for a majority stake in AVK Power Solutions, a U.K. provider of backup power solutions for data centers and AI infrastructure. Go deeper

• Pregis, backed by Warburg Pincus, acquired MP Global Packaging, a Norfolk, Neb.-based cold chain and thermal packaging business. Go deeper

• Ridgemont Equity Partners acquired Entact, a provider of environmental remediation and geotechnical services. Go deeper

• Veritas Capital acquired a majority stake in Saber Power Services, a Houston-based power infrastructure services platform, from Greenbelt Capital Management. Go deeper

Public offerings

• Westinghouse Electric, the nuclear energy giant owned by Brookfield Asset Management and Cameco, confidentially filed for an IPO. Go deeper

Liquidity

• Schneider Electric (Paris: SU) agreed to acquire AIdash, a Palo Alto, Calif.-based utility asset monitoring provider, for $350m in cash. AIdash had raised $91.5m from Duke Investments, G2 Venture Partners, Lightrock, Lightsmith Group, Marubeni, National Grid Partners, and Shell Ventures. Go deeper

M&A

• Virginia Gov. Abigail Spanberger plans to intervene in the proposed $67b merger of Dominion Energy and NextEra Energy. Go deeper

Fundraising

• Energy Capital Partners raised $8.1b for its sixth flagship fund. Go deeper

• KKR raised $19.2b for its fifth global infrastructure fund. Go deeper

It's Personnel

• Graham Littlehale joined Felicis as a partner. He previously was with Point72 Ventures. Go deeper

• Michael O'Dwyer is stepping down as Morgan ‌Stanley's global co-head of energy to join ADNOC as chief investment officer, per Reuters. Go deeper

• Neos Partners promoted Nick Mangus to managing director. Go deeper

Odds & Ends

• 80 Acres Farms, a Hamilton, Ohio-based indoor farmer, is shutting down, per AgFunder News. It had raised nearly $400m from firms like Siemens Financial, Barclays Climate Ventures, Blue Earth Capital, BeyondNetZero, General Atlantic, and S2G Investments. Go deeper

• Electric automaker Lucid is delaying the launch of more affordable EVs to the second half of 2027, as the company looks to cut $1.4 billion in costs. Go deeper