ImpactAlpha’s deal news coverage for the week:
Artificial intelligence. Paris-based Altrove raised a $10 million seed round from Alven, Bpifrance’s Digital Venture, Contrarian Ventures and Emblem for its AI-driven process for identifying and developing substitute materials for rare earth minerals… Singapore’s GIC, Active Capital and Energy Impact Partners are among investors in the $91 million Series A round of Infravision, which uses AI-powered drones to install and upgrade transmission lines.
Climate finance. Australia’s Uluu scored A$16 million ($10.5 million) in Series A funding, backed by Trinity Ventures and Burda Principal Investments, for its seaweed-based plastic alternative… Japanese financial giant MUFG Bank, Canadian development finance institution FinDev Canada and the Green Climate Fund reached a $600 million fundraising milestone for their GAIA Climate Loan Fund. The blended-finance fund is aiming to raise $1.5 billion for climate adaptation projects in “markets most severely impacted by, and least equipped to respond to, climate change…” Theia Ventures, a family office-backed investment firm for India’s early-stage climate ventures, invested in Climitra Carbon, which makes biochar as a coal replacement in heavy industry.
Edtech. Mexico-based edtech venture Ginia raised $1.7 million in a pre-seed round to help graduating students search for jobs and connect with employers.
Energy transition. Apollo bought a $6.5 billion stake in Ørsted’s offshore wind project in the UK… Goldi Solar secured $171 million to boost India’s solar manufacturing… Mexico’s Solfium raised $10 million to bring solar to corporate suppliers.
Fund news. Rubio Impact Ventures secured €70 million for third Dutch impact fund… Zurich-based Emerald Technology Ventures reached a €60 million ($69 million) first close for its second Global Water Fund, with backing from water companies Veralto Corporation and Ecolab.
Green mobility. Indian smart transit provider IntrCity SmartBus, based in Noida, Uttar Pradesh, raised $30 million to meet demand for reliable long-haul bus services in India’s smaller cities and towns… Sao Paulo-based Vammo, an electric motorcycle leasing company, raised $45 million from Ecosystem Integrity Partners, Monashees, Qualcomm Ventures and other investors.
Housing. NYCEEC and SustainEnergyFinance team up on green affordable housing in Utah… Real estate investor CIM Group and Bryant Group Ventures raised $250 million for their impact investing joint venture, CIM-BGV Impact Ventures, which focuses on affordable housing in the US.
Inclusive finance. First issuance of Total Impact Notes raised $3 million for loans to fund managers in Latin America and Africa… Singapore-based Ant International made a strategic investment in R2, which helps online marketplaces embed financing as one of their services to small businesses.
Low-carbon transition. Brazilian asset manager eB Capital spun out its decarbonization investment group, Flying Rivers Capital, which has one billion reais ($187 million) in assets under management… C.Scale raised $2 million to connect building designers with low-carbon product suppliers.
Return on inclusion. Canada’s Thrive ETA Fund backed Magnum Capital to create female business owners in Quebec… KeyBanc backed $46.5 million bond for tribally-owned healthcare facilities… Ontario-based Maple Bridge Ventures reached a C$10.2 million (US$7.2 million) first close for its debut fund, which invests in food and agriculture technologies, healthtech and enterprise solutions by immigrant founders.
