VC Funding for Smart Grid Companies Gathers Pace

New Delhi: Venture capital (VC) funding for smart grid companies increased by nearly 11 per cent to $425 million in 2015, according to clean energy consultant Mercom Capital Group. 

"VC funding (including private equity and corporate venture capital) for smart grid companies increased slightly to $425 million in 57 deals compared with $384 million in 74 deals in 2014," Mercom Capital Group said in a statement. 

Total corporate funding, including debt and public market financing, equalled $527 million compared with $844 million in 2014, it said. 

Battery or storage companies brought in $397 million in 37 deals as against $431 million in 34 in 2014. 

Funding for the energy efficiency sector increased to $852 million in 67 deals compared with $797 million in 80 in 2014.