ImpactAlpha’s deal news coverage for the week:
Clean tech. Amid trade war, Phoenix Tailings snagged $76 million for US production of rare earth metals… Lowercarbon Capital led a $25 million equity round for El Segundo, Calif.-based Rainmaker Technology, which uses drones for cloud seeding to increase rainfall in drought-prone areas.
Climate finance. Microsoft’s Climate Innovation Fund backed climate-smart forestry specialist EFM… Raleigh, NC-based Hoofprint Biome, which makes feed to reduce cows’ methane gas emissions, raised $15 million from SOSV, Amazon’s Climate Pledge Fund, Breakthrough Energy Fellows and others.
Energy transition. British International Investment forayed into solar manufacturing in India with a $100 million in ReNew Energy Global, a solar PV maker and renewable energy distributor… Floral Energy, a London-based builder, operator and manager of microgrids, merged with GridSwitch, a US-based peer. Floral also raised seed funding in a round led by British early-stage investor LocalGlobe.
Financing SMEs. FinDev Canada committed $15 million to EcoEnterprises’ fourth fund, which is seeking up to $150 million to invest in small and mid-sized enterprises in Latin America… Kaleidofin secured $5.3 million in equity financing from IDH Farmfit Fund to help India’s lenders improve credit assessments of low-income borrowers and small enterprises.
Green batteries. Kofa secured $8 million for portable batteries in Ghana and Kenya… UK-based Breathe Battery Technologies raised a $21 million Series B round led by Kinnevik Online AB for its software that helps automakers keep up to speed on battery tech.
Impact funds. Canada’s Frog Lake First Nation anchored a planned $100 million climate AI and software fund from Raiven Capital, a venture capital firm based in Silicon Valley, Toronto and Dubai (and not to be confused with Raven Indigenous Capital Partners, also in Canada)… TLG Capital secured $75 million for its second Africa Growth Impact Fund, a private credit fund. The International Finance Corp. anchored the fund; other investors include France’s public investment bank Bpifrance, Swedfund, Norfund, and the UK’s Foreign, Commonwealth and Development Office.
Impact marketplace. Goparity raised $3 million to make impact investing more inclusive… Singapore’s Co-Axis secured investment for climate and health solutions in Asia.
Investing in health. Pakistani startup MedIQ, whose digital platform connects healthcare providers, patients and insurers, raised $6 million in a Series A round led by Rasmal Ventures and Joa Capital to expand in the Middle East.
Private equity. Ara Partners scooped up $800 million as it expands from PE to infrastructure… Neuberger Berman raised $300 million for its second private equity impact fund… With $120 billion of uncalled capital, Brookfield seeks overlooked opportunities amid market volatility and uncertainty.
Upskilling workers. Potencia Ventures and LearnLaunch Fund + Accelerator backed Fort Lauderdale, Fla.-based Prentus’s gamified career development platform.
Waste to value. Athens-based Coffeeco Upcycle, which converts coffee waste into skincare products and bioplastics, landed €715,000 ($735,000) in a round led by the UK’s VDK Capital… Canada’s Exterra Carbon Solutions scored C$20 million (US$14.6 million) in Series A funding, co-led by Clean Energy Ventures and BDC Capital, to convert asbestos waste into magnesium oxide, nickel, silica and other critical minerals… Rekosistem, an Indonesian startup that provides household and commercial waste management and recycling services, secured $7 million in a Series A round led by Saratoga Investama Sedaya and K3 Ventures.
