Energy and climate deals of the week

Venture capital

• Dogotix, a robotics subsidiary of listed Chinese EV maker Xpeng, raised $900m at a $3b valuation from investors like Alibaba and IDG Capital. Go deeper

• Starcloud, a Redmond, Wash.-based developer of orbital data centers, raised $250m in Series A extension funding at $2.3b post-money. Manhattan West led, joined by Nvidia, Cisco Investments, Cedar Capital, Goanna Capital, Standard Capital, and insiders Benchmark, EQT, Soma, NFX, and 776. Go deeper

• Flashback to Axios Pro's reporting in March.

• Gatik, a developer of self-driving box trucks, raised $200m. QIA and Koch Disruptive Technologies led, joined by Millennium Management, ARK Invest, and Intact Private Capital. Go deeper

• Regent Craft, a North Kingstown, R.I.-based maker of electric maritime vessels, raised around $120m in Series B equity funding led by Mare Liberum and AE Ventures. It also secured around $120m in debt from Palmer Luckey's Erebor Bank. Go deeper

• Cyclic Materials, a Canadian rare-earths recycler, raised $75m. T. Rowe Price led, joined by ERI. Go deeper

• Quaise Energy, a Houston-based geothermal drilling tech developer, raised $35m in Series B extension funding from Nabors Industries, bringing the round total to $180m. Go deeper

• Flashback to Axios Pro's reporting in February.

• Voya Energy, a startup that helps convert scrap aluminum into backup power for data centers., raised $35m. Energy Impact Partners led, joined by John Doerr, Mantis VC, StepStone, Founders Fund, Overmatch Ventures, and Seven Stars. Go deeper

• Emerald AI raised $150m. Energize Capital and DCVC led, joined by Nvidia, Samsung Ventures, and GE Vernova. Go deeper

• Flashback to Axios Pro's reporting in July.

• Airbound, an Indian maker of autonomous drones, raised $37m in Series A funding. Greenoaks led, joined by DoorDash, Lachy Groom, Lightspeed, and Humba Ventures. Go deeper

• Corvus Robotics, a developer of logistics and warehouse robots, raised $20m. Catalyst Investors led, joined by insiders S2G Investments, Spero Ventures, and F7 Ventures. Go deeper

• Vitalfluid, a Dutch developer of plasma fungicide for crops, raised €17.2m led by Invest-NL and Alder Tree Investments, joined by insiders Horticoop, Brabantse Ontwikkelings Maatschappij (BOM), Future Food Fund, Graduate Ventures, Innovation Industries, VDL Groep and Goeie Grutten Impact Fonds. Go deeper

• TerraBlaster, a Redwood City, Calif.-based developer of soil-nutrition sensors, raised $12.5m in seed funding. Ulu Ventures led, joined by Khosla Ventures, Trailhead Capital, Builders Vision, Bidra, Ag Startup Engine, Reservoir, Sunna, Plug and Play, GrainInnovate, and the Hort Innovation Venture Fund. Go deeper

• Certain Energy, a U.K. long-duration energy storage startup, raised £10m in Series A funding. British Business Bank led, joined by Centrica, Ceres Power Holdings, and Temasek Trust. Go deeper

• Teragen Energy, a Southborough, Mass.-based fuel cell developer, raised $6m in pre-seed funding. BEVC and Energy Capital Ventures led, joined by AP Ventures, AIC Ventures, Massachusetts Clean Energy Center, and UntroD Capital Asia. Go deeper

• Maash, a Belgian alt proteins developer, raised €5.9m from Ambra Capital, InvestPro, Bpifrance, Amorçage Industriel, Nordzucker and Tereos. Go deeper

• Boldr, a U.K. residential energy management startup, raised $5m led by Unconventional Ventures, with participation from Ada Ventures, Tetard Ventures, Davidovs Venture Collective, Roxbury Asset Management, Inclimo Climate Tech Fund, Prosegur, Techstars, and S20 Fund. Go deeper

• Neocrete, a New Zealand-based developer of sustainable cement alternatives, raised US$3.5m led by Wavemaker Ventures, joined by Icehouse Ventures and Temasek Trust's Catalytic Capital for Climate and Health. Go deeper

• Maglut Heavy Industries, a Long Beach, Calif.-based rare earths processor, raised $3.1m from Wave Function, Nova Threshold, and Julian Capital. Go deeper

• Facet Amtech, an Australian startup producing ammonia from air and water, raised A$3m in seed funding from Main Sequence and Uniseed. Go deeper

Private Equity

• ArcLight committed $1b in equity to launch a new transmission company called Anchor Point. Go deeper

• Exponent agreed to invest in KTL, an Irish provider of infrastructure services to the telecom and power sectors. Go deeper

• Kelso & Co. invested in Bearing Distributors, a Cleveland-based distributor of bearings, power transmission and fluid power products. Go deeper

• Nvidia (Nasdaq: NVDA) invested in Cloverleaf Infrastructure, a Houston developer of clean energy-based data centers whose backers include Sandbrook Capital and NGP Energy Capital. Go deeper

Public offerings

• CoVolt Power (fka Signal Energy and Applied High Voltage), a Houston-based provider of construction services for utility-scale solar and battery storage projects, filed for an IPO that Renaissance Capital estimates could raise $200m. It reports $60.5m of net income on $739m of revenue for 2025 and plans to list on the NYSE (KVLT). Shareholders include Davidson Kempner and Man Group. Go deeper

M&A

• DigitalBridge (NYSE: DBRG), which is being acquired by SoftBank, agreed to buy Australian smart meter provider PLUS ES from Ausgrid. Go deeper

• NVent Electric (NYSE: NVT) agreed to buy McKinney, Texas-based power distribution company Maverick Power for $1.75b. Go deeper

• Otovo, a Norwegian energy services provider, agreed to acquire Green Panel Solar Energy Systems, an Israeli installation and maintenance provider for distributed energy resources, for $11m. Go deeper

• Siemens Energy is preparing to sell a majority stake in its steam turbine business and is working with Goldman Sachs on the process, per Bloomberg. Go deeper

• Solstice Advanced Materials (Nasdaq: SOLS), a recent Honeywell spinout, and fellow chemicals firm Element Solutions (NYSE: ESI) canceled their proposed merger after negative shareholder feedback. Go deeper

• Viably, a Denver-based recycling equipment supplier, acquired Harp Renewables, an Irish developer of organic waste processing tech. Go deeper

Fundraising

• MassMutual Ventures launched its second climate fund with $150m. Go deeper

• Navisalma, a new European deep-tech VC firm launched by two Einride co-founders, will seek to raise €450m. Go deeper

Liquidity

• Navitas Semiconductor (Nasdaq: NVTS) agreed to acquire Claros, a data center energy startup, for around $233m in cash and stock. Claros had raised over $40m from firms like Red Cell Partners, General Catalyst, Virginia Innovation Partnership, and Composite Capital Partners. Go deeper

Fundraising

• Redstone, a German early-stage VC firm, raised €25m in a first close of its Redstone Blue fund targeting ocean-tech startups. Backers include Aboa Advest, Adamo Capital, Argong Investment, Ab Kelonia, LähiTapiola, Meriaura Invest, Rausanne, and the City of Turku in Finland. Go deeper

It's Personnel

• David Fishman is leaving BofA to join JPMorgan as a vice chair and head of North American tech M&A. He succeeds Vineet Seth, who becomes vice chair of investment banking. Go deeper

• Faran Nouri was named VP and global head of Applied Ventures, the deep-tech VC arm of semiconductor materials engineering firm Applied Materials. Nouri was senior partner at Natcast. Go deeper

• Julia White joined law firm Cooley as an SF-based capital markets partner. She was previously at Goodwin Procter. Go deeper

Odds & Ends

• Coreshell Technologies, a San Leandro, Calif.-based battery producer, is receiving a $50m award from the U.S. Department of Energy's Manufacturing Deployment Office to expand battery production. Go deeper