Smart grid VC funding continued lackluster in Q2 2013


Austin, TX, U.S.A. — (METERING.COM) — July 24, 2013 – Venture capital funding in smart grid remained in a rut in Q2 2013, coming in at $50 million in 10 deals, according to Mercom Capital Group’s latest quarterly review.

This compares with the $62 million in 9 deals in Q1 3013, and except for Q3 2012, VC funding has remained in the $50-70 million range with 9-12 deals for almost two years.

The top 5 deals were led by Enlighted, which raised $20 million, C3 Energy, which raised $15 million, and Optimum Energy, which raised $12.2 million. Rounding out the top five, the energy management solution providers Ecolibrium Energy from India received $1.6 million and Integrated Energy Management Solutions from Britain $1 million.

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, an enterprise IT and energy management company for $107 million. Last quarter, there were four transactions, of which only one was disclosed for $11 million.