ImpactAlpha’s deal news coverage for the week:
Business finance. Ramp, a budget-management platform used by more than 70,000 organizations, raised $750 million in Series F financing. Mission-driven backers include Generation Investment Management and Ontario Teachers’ Pension Plan.
Financial inclusion. Gender-lens fund manager Aruwa Capital invested $2 million in Sika Financial Group, a Delaware-based firm building infrastructure for African institutions to settle trades in local currencies… San Francisco-based Forage raised $40 million in a Series B round backed by Mouro Capital, NextLadder, and Pivotal Ventures to help retailers accept government benefits like SNAP.
Green infrastructure. Copenhagen Infrastructure Partners agreed to sell a minority stake in the 500-megawatt Devilla battery storage project in Scotland to the Nuclear Liabilities Fund and Scottish National Investment Bank… Hungary-based Volteum secured $2.5 million from Movens Capital, WakeUp Capital, Aidiom, and others to scale electric vehicle fleet management across Europe.
Health equity. New York-based Stepful raised $55 million in Series C funding from Oak HC/FT, Citi Impact Fund, ECMC Education Impact Fund, and others to train healthcare workers via employer-sponsored programs… French development financier Proparco invested in Kenya-based healthtech Tibu to scale its network of clinics offering medical imaging, pediatrics, gynecology, laboratory testing, and telemedicine.
Impact tech. Oakland-based Campground clinched $2.2 million from Precursor Ventures, Acumen Americas, Underdog Labs, Access Georgia Foundation, and others to help workforce and youth development organizations manage workflows and report impact.
Low-carbon transition. India-based Hygenco Green Energies raised $100 million from the International Finance Corporation, Siemens Financial Services, and Fullerton Carbon Action Fund for hydrogen projects across India… German heat pump installer Galvany clinched €10 million ($11.5 million) in seed financing from SET Ventures and AENU to expand into multifamily homes.
Racial equity. Enable Ventures led a $5.7 million round for Kalogon, a Florida-based company developing smart seating for wheelchair users.
Renewable energy. Nigeria-based ARM-Harith Infrastructure Investments raised $76 million for its climate transition fund, anchored by FSD Africa Investments and the African Development Bank, toward a $200 million target.
Agrifood investing. Paris-based InnovaFeed landed €51 million ($59 million) from Creadev, Temasek, ABC Impact, and others to scale insect protein production… Amsterdam-based Pymwymic took over the Triodos Food Transition Europe Fund, relaunching it as the Pymwymic Healthy Food Systems Growth Impact Fund III.
Worker ownership. Austin-based P. Terry’s Burger Stand converted to worker-ownership through an employee ownership trust, sharing 5% of profits with longtime employees this year and targeting 20% over time. Common Trust supported the transition.
Workforce development. Achieve Partners backed Charleston, SC-based Alchemy, which manages internship recruiting, supervision, payroll, and compliance for employers, as part of its $450 million second fund targeting AI-driven workforce disruptions.
