Mercom Capital released its report on funding and mergers and acquisitions (M&A) activity for the smart grid sector during the second quarter of 2013.
Smart grid venture capital (VC) funding in Q2 2013, totaled $50 million in ten deals. Except for one quarter, Q3 2012, VC funding has been stuck in the $50-$70 million range with 9-12 deals for almost two years, according to Mercom.
The Top 5 deals were led by Enlighted, which raised $20 million in a Series C round. New investor RockPort Capital led the round and was joined by new investor DFJ JAIC. Existing investors Kleiner Perkins Caufield & Byers, Draper Fisher Jurvetson, and Intel Capital also participated in the round. C3 Energy raised $15 million. Ecolibrium Energy received $1.6 million from Infuse Ventures and International Finance Corporation.
Home and building automation companies totaled the most deals in the sector ($33 million in five deals), followed by grid optimization companies ($17 million in three deals) and advanced meter infrastructure (AMI) and security companies with one deal each.
There were three M&A transactions in Q2 2013. The lone disclosed transaction this quarter was Cisco’s acquisition of JouleX for $107 million. Last quarter, there were four transactions, of which only one was disclosed for $11 million.
Read full press release from Mercom Capital
