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Sept. 13 — Patch, a carbon-market software startup, raised $55 million in Series B funding from Andreessen Horowitz, Energize Ventures, and Coatue, the company told Megan.

Why it matters: The involvement of heavy hitters a16z and Coatue in the round show the level of interest in the carbon-software space, as parts of the climate-tech industry move from asset-heavy hardware plays to the more VC-friendly SaaS model. 

Plus: ⌨️ Tuesday's Pro Rata, with news on Unity Software/AppLovin.

1. a16z, Coatue place carbon-software bet

Sept. 15 — Goldman Sachs Asset Management and Cleanhill Partners acquired a majority stake in EPC Power, a maker of power-conversion systems for energy storage and solar PV systems, Alan wrote Thursday.

Why it matters: Energy storage deployment is booming, especially for grid-scale systems. New storage incentives in the Inflation Reduction Act will only accelerate this trend.

Plus: ⌨️ Thursday's Pro Rata, with news on Adobe's $20b Figma buy.

2. Goldman power

Sept. 14 — The Copenhagen-based startup Monta raised €30 million (~$30 million) at a €155 million valuation for its charging software, Alan reported Wednesday. 

Why it matters: Monta is focused on EV charging software to make the process easier and more efficient. Copenhagen Airport, for example, is using the software to electrify its fleet of vehicles.

Plus: ⌨️ Wednesday's Pro Rata, with news on Twitter's ESG problem.

3. Monta nets €30M for EV charging SaaS

Sept. 12 — Modulous, a Seattle- and London-based construction tech startup, has raised $11.5 million in Series A funding, the company told Megan.

Why it matters: The housing boom lit a spark under the construction-tech space. Even though that market has cooled, the funding round shows that investors remain bullish and the space remains competitive.

Plus: ⌨️ Monday's Pro Rata, with news on Josh Harris and Bolt/Wyre.

4. Construction startup raises $11.5M

$100 bill with construction helmet on Franklin's head

Data: S&P Global Market Intelligence; Chart: Nicki Camberg/Axios

5. Chart of the week: Nickel and dimed

Enjoy this week's digest and then subscribe and listen to the latest season of "Elon Musk vs. Twitter" — a docuseries about Musk's astonishing career, the rise of Twitter, and what the collision between the two could mean for us all. 

That was a whirlwind of a week. Rest up. Megan and Alan will be back Monday to catch you up on the latest. 

And thank you for reading Climate Deals! Please share with your friends, family and nickel enthusiasts.

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September 16, 2022

1. a16z, Coatue place carbon-software bet