Dealflow | May 24, 2024

The Week’s Dealflow: May 24, 2024

The team at


ImpactAlpha’s deal news coverage for the week:

Artificial intelligence. India’s Niqo Robotics clinched $13 million in a Series B investment round for its AI-powered precisions spraying tech for smallholder farmers… Norway’s Spoor scored $4 million in a seed round to use AI and machine learning to monitor the flight patterns of birds to prevent collisions with wind turbines.

Clean mobility. ElectriFI made a $1.6 million investment in Gogo Electric (previously Bodawerk) for electric motorcycle taxis in Uganda… UK-based ULEMCo, which retrofits diesel-fueled heavy duty commercial vehicles for clean hydrogen use, raised £5 million ($6.3 million).

Fund news. Enduring Planet secured $4.1 million to make bridge loans to government-backed climate businesses… PeakBridge Growth Fund raised $187 million to bring technology to food ventures… RGreen Invest’s Afrigreen Debt Impact Fund secured €10 million ($11 million) from FMO for small to medium-scale clean energy projects in Africa… Starshot Capital raised $35 million for its first fund for early stage, high-impact companies in food and agriculture, materials, chemicals and the built environment.

Green batteries. Bedrock Materials snagged $9 million in seed funding to produce low-cost, eco-friendly materials for sodium-ion batteries, which charge faster than lithium-ion batteries but have a lower energy density… Cyclib, a Germany battery recycling startup, scored €55 million ($60 million) in Series A financing from the World Fund, Porsche Ventures, Speedinvest and other backers… Ore Energy, a Dutch startup developing iron-air long-duration storage, debuted with a €10 million ($10.8 million) seed round led by funding from Positron Ventures.

Green infrastructure. Asian Infrastructure Investment Bank provided $200 million guarantee for loans to Turkey’s green exporters… KETOS clinched $10 million for water data as a service… Spring Lane Capital commits $30 million to Soluna for “green” data centers.

Impact acquisitions. Direct air capture company Global Thermostat, chaired by Edgar Bronfman Jr., was acquired by Zero Carbon Systems for an undisclosed amount… Mumbai-based private buyout firm Arpwood Partners will acquire a majority stake in Sitara, which provides financing to low-income homebuyers in India, including informal female workers.

Impact biotech. Cellugy raised €4.9 million to use microbes to replace petrochemicals.

Impact management. ESG data platform Novata raised new funding from existing investors Hamilton Lane and S&P Global, and new investor Motive Ventures.

Inclusive economy. A $40 million rail transit bond in Northern Indiana aims to expand economic opportunity… Colombia’s Magneto scored $7 million to help companies recruit talent in Latin America… Latina-led venture fund Angeles Ventures secured an equity investment from Bank of America to invest in Hispanic and Latino founders’ early stage companies in the US.

Low-carbon transition. 280 Earth raised $280 million, led by Builders VC, to scale up its direct air capture carbon technology… Woman-led Zero Carbon Capital closed a £20 million ($25.4 million) fund to provide seed financing to founders in Europe developing science-based technologies for decarbonization.