9º Clean: Energy, Logistics & Batteries. Agro/Food tech - 10th Jun

Analyst Reports:

• Clean Energy Report. Q1 2023 Link

Startups raising funds

• Uncaged, a White Plains, N.Y.-based developer of sustainable leather alternatives, raised $2m in pre-seed funding led by InMotion Ventures, the VC arm of Jaguar Land Rover. Link
• Charm Industrial, an SF-based carbon removal startup, raised $100m in Series B funding. General Catalyst led, and was joined by Lowercarbon, Exor Ventures, Kinnevik, Thrive Capital and Elad Gil. Link
• Curri, a Ventura, Calif.-based logistics platform for the construction industry, raised $42m in Series B funding. Bessemer Venture Partners led, and was joined by Initialized Capital, Brick & Mortar Ventures and Rainfall Ventures. Link
• Sourcemap, a New York-based supply chain monitoring startup, raised $20m co-led by Energize Ventures and E14 Fund. Link
• Amogy, a Brooklyn, N.Y.-based developer of ammonia-based fuels for trucks and ships, raised $11m in new Series B funding (round total now $150m) from Marunouchi Climate Tech Growth Fund, Mitsubishi Corp., Mitsubishi Heavy Industries America and Synergy Marine. Link
• Oxccu, a British startup that converts CO2 into sustainable aviation fuel, raised $22.7m in Series A funding. Clean Energy Ventures led, and was joined by Aramco Ventures, Eni Next, United Airlines Ventures, Sustainable Flight Fund, Braavos Capital and insiders like Kiko Ventures. Link
• Nori, a Seattle-based carbon removal marketplace, raised $6.25m from insiders M13, Toyota Ventures, Placeholder and Cargill. Link
• SustainCERT, a Luxembourg-based climate impact verification platform, raised $37m in Series B funding from backers like Partech and Hartree. Link
• Woltair, a Prague-based energy management startup, raised €20.5m. The Westly Group and Fifth Wall co-led, and were joined by ArcTern Ventures, Kaya and Inven Capital. Link
• Haul247, a Nigerian B2B logistics platform, raised $2m in seed funding from Alitheia Capital. Link
• Magrathea, an SF-based carbon-free metals producer, raised an undisclosed amount of seed funding from EQT Foundation. Link
• Uncommon, a British-cultivated bacon startup previously known as Higher Steaks, raised $30 million in Series A funding co-led by Balderton Capital and Lowercarbon Capital. Link

M&A and Private equity deals

• Associated British Foods (LSE: ABF), owner of Primark, agreed to buy British dairy tech company National Milk Records for £48m. Link
• CleanCapital, a New York-based solar energy and storage developer, secured up to $500m from Canadian insurer Manulife. Link
• PVcase, a Lithuanian provider of solar-project-design software, acquired Anderson Optimization, a Boulder, Colo.-based provider of solar-siting software. PVcase has raised over $20m from firms like Elephant Partners and Contrarian Ventures. Link

IPO & SPAC

• Nikola (Nasdaq: NKLA), a Phoenix-based electric truck maker, is considering a reverse stock split to comply with the Nasdaq's minimum bid price requirements. Link
• American Battery Materials (OTC: BLTH), a Greenwich, Conn.-based direct lithium extractor, agreed to be acquired by Seaport Global Acquisition IICorp. (Nasdaq: SGII), a SPAC formed by Global Asset Management. Link
• Surf Air Mobility, an LA-based regional business travel carrier that uses electric aircraft, filed for a direct listing on the NYSE. The company has raised nearly $100m from firms like Anthem Venture Partners and ff Venture Capital, and previously considered a SPAC merger. Link

Investor raising funds

• BlackRock is raising up to $7b for its fourth global renewable power fund. Link
• Just Climate, a unit of Generation Investment Management that’s intended to “address the net-zero challenge at scale,” raised $1.5b for its debut fund. Link

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