Weekly funding picks, November 2–8: three energy deals
Return finances German grid batteries, Candi Solar signs a facility for Indian businesses, and 6K gets a conditional loan offer for a Tennessee cathode plant.
Return secured €835 million in portfolio financing on November 4, underwritten by Deutsche Bank and Rabobank. The framework lets it finance several German storage sites under one agreement. The first three, totalling 117 MW, are already under construction. Energy companies can contract for capacity across the sites without owning a battery themselves.
Candi Solar’s customers can buy power without buying panels
On November 5, Candi Solar signed a $50 million financing partnership with Pentagreen Capital, which manages the Green Investments Partnership. It targets approximately 400 MWp of solar and storage projects in India. Candi builds and operates the installations; business customers pay for the electricity generated rather than funding a system upfront.
6K gets a conditional loan offer for a Tennessee cathode plant
On November 5, the US Office of Strategic Capital conditionally committed up to $250 million for 6K’s proposed plant in Jackson, Tennessee. Final financing and disbursement depend on appropriations, due diligence and other approvals. The plant would use microwave plasma to make cathode material for lithium-ion batteries.
The three financing announcements
Sources
All rounds in this edition
| Company | Amount | Round | Sector · country | Investors | Date |
|---|---|---|---|---|---|
| Rabbit Trigger Rabbit Trigger is an independent game development team creating DEATH A LIVE, a rhythm-action adventure for PC built in Unreal Engine 5. | Undisclosed | Epic MegaGrant | Media & gaming · Unknown | Epic Games | |
| newmo Taxi operations and technology for autonomous urban transport. | ¥20.8B | Series B | Mobility · Japan | Kokusai Motorcars, NEX-T Tokai Innovation Fund, ANRI, Fidea Capital Co., Ltd., BRICKS FUND TOKYO, Daiwa Motor Transportation, SBI Investment Co., Ltd., KDDI Corporation (lead), DG Daiwa Ventures, Global Brain, SMBC-GB Growth Fund, Resona Capital, Eight Roads Ventures, GMO VenturePartners, Inc., Value Chain Innovation Fund, Rice Capital, Mercari, Japan Post Bank Spiral Regional Innovation Fund 1, Yokohama Capital, Globis Capital Partners, Headline Asia, MPower Partners Fund L.P., Mori Building Innovation Fund, JAFCO Group Co., Ltd., KRAFTIA Innovation Fund, Keio Innovation Initiative | |
| Physicl Synthetic 3D environments and labelled training data for robotics and world models. | $10M | Seed | AI · United States | Inovia Capital (lead) | |
| Human Physical Intelligence Human Physical Intelligence develops AI-controlled assist suits that help care workers learn and maintain less physically demanding working postures. | ¥10M | Japan Finance Corporation startup loan | Robotics · Japan | Japan Finance Corporation | |
| TASE Global Precision manufacturing and engineering group serving aerospace, defence, medical and industrial customers. | ₹3B | Investment commitment | Industrial tech · India | ValueQuest Tristar Fund | |
| MucoLife Therapeutics Developing inhaled peptide medicines to clear mucus obstructions in lung disease. | SEK 1M | Vinnova ScaleGla grant | Biotech · Sweden | Vinnova | |
| ONSOH Japanese biotechnology company developing hot-spring microalgae ingredients for livestock and aquaculture feed. | Undisclosed | Convertible bond investment | Agritech · Japan | Funds Venture Debt Fund 2 | |
| GHGSat Canadian company measuring greenhouse gas emissions at individual industrial facilities using satellites, aircraft sensors and analytics. | Undisclosed | Convertible note investment | Climate tech · Canada | Climate Investment, ME Innovation Fund, MUFG Bank | |
| PUBLIC CONNECT Japanese recruitment platform connecting jobseekers with government agencies and local authorities. | Undisclosed | Corporate venture investment | Business services · Japan | NANKAI NEXT Ventures Co., Ltd. | |
| SKINGARDEN SKINGARDEN operates a Korean beauty retail store in Tokyo’s Shin-Okubo district and sells products through online channels. | Undisclosed | Strategic investment | Consumer · Japan | Koraininginsha | |
| NUVVE JAPAN Japanese energy technology company aggregating electric vehicle batteries and stationary storage to optimise power supply and demand. | Undisclosed | J-KISS share acquisition rights | Climate tech · Japan | ||
| NIPPONIA Operations Japanese hospitality operator turning historic buildings and local culture into NIPPONIA accommodation experiences. | Undisclosed | Capital and business alliance | Business services · Japan | Holonic | |
| Vensum Power Finnish power electronics company developing software-defined converters for charging, energy storage and computing infrastructure. | €9M | Series A | Climate tech · Finland | Eviny Ventures (lead), Lifeline Ventures (lead), Larsen & Toubro Group (lead) | |
| Ocient Ocient develops a unified data and analytics platform for running governed AI and analytical workloads on petabyte-scale enterprise datasets. | $100M | Series C | Enterprise software · United States | OCA Ventures (lead), BOKA Capital (lead) | |
| Claimlane Warranty claims software connecting brands, retailers, customers and service partners. | €5.6M | Series A | Enterprise software · Denmark | Skagerak Capital, Verb Ventures (lead), Vendep Capital | |
| Calogena Calogena develops compact nuclear heat modules for district-heating networks. | €40M | Innovation Fund grant | Climate tech · France | European Commission | |
| Nealle Nealle operates Park Direct, software for parking contracts, payments and property management. | Undisclosed | Series C | Proptech · Japan | Insight Partners (lead), JPS Growth Investment No. 2 Limited Partnership | |
| MUSE MUSE develops Armo, a multi-purpose robot for retail stores. | ¥1.8B | Undisclosed | Robotics · Japan | Rakuten Capital, Toshiba Tec, Incubate Fund, Spiral Capital, Gogin Capital Co., Ltd., Canal Ventures Co., Ltd., New Commerce Ventures, Inc., XTech Ventures, ALPHA (lead), YMFG Capital | |
| Shield AI Shield AI develops autonomy software and uncrewed aircraft for military and defense customers. | $500M | Debt financing | Defense tech · United States | JPMorgan Chase (lead) | |
| Alethio Therapeutics Oxford spin-out developing targeted medicines for myeloproliferative neoplasms, a group of blood cancers. | $90M | Series A | Biotech · United Kingdom | Oxford Science Enterprises, University of Oxford, RA Capital Management (lead), Sofinnova Partners (lead), Cancer Research Horizons | |
| MindMax MindMax develops conversational AI tutoring for people preparing for exams and learning new skills. | £2.5M | Undisclosed | Edtech · United Kingdom | Maria Raga, Daybreak Ventures, Lerer Hippeau, Torsten Reil, Concept Ventures (lead), Redrice Ventures | |
| Humble Robotics Autonomous electric vehicles and operating systems for regional freight. | $51M | Series A | Mobility · United States | Energy Impact Partners, Obvious Ventures (lead), Ironspring Ventures, Eclipse | |
| 睿芯行 Ruixinxing develops controllers, vision systems and operating software for autonomous mobile robots. | Undisclosed | Undisclosed round | Robotics · China | EP Equipment, Sinovation Ventures, NTI | |
| Harbinger Electric and hybrid vehicle platforms, battery systems and auxiliary power technology for commercial fleets and industrial customers. | $240M | Series D | Industrial tech · United States | Australian Gulf Capital, Squarepoint Capital, Greycroft, Capricorn Technology Impact Funds (lead), BuildGroup, FedEx, Tiger Global (lead), Ridgeline (lead), Maniv, Leitmotif, TechNexus, PanaceaVC, Fidelity Management & Research Company, ArcTern Ventures, Xantium | |
| altM altM converts agricultural residue into specialty chemicals for industrial manufacturers seeking alternatives to fossil-derived ingredients. | $10.3M | Series A | Industrial tech · India | Mela Ventures, Spectrum Impact, Rainmatter, Omnivore, Theia Ventures, VC Grid, Aureolis Ventures | |
| FluoRok FluoRok develops manufacturing processes for fluorochemicals that bypass hazardous hydrogen fluoride. | $30M | Series A | Industrial tech · United Kingdom | BGF, Oxford Science Enterprises, Bidra Innovation Ventures, Orano Venture Fund (lead), University of Oxford, EverQuest Capital Partners, Innovate UK | |
| Pay2o Pay2o develops bank-account payment services for recurring tuition, membership fees and other subscription charges. | ¥170M | Seed | Fintech · Japan | Mizuho Capital Co., Ltd., XTech Ventures (lead), PLAID, Inc. | |
| Cosmoserve Space Robotic spacecraft and orbital servicing technology to remove debris and decommissioned satellites. | $6M | Seed | Space tech · India | Shakti VC, AUM Ventures, Aranya Holdings, Rebright Partners, Naandi Ventures | |
| DGV Fund I Consumer-focused Indian investment fund backing pre-Series A and Series A businesses. | ₹1.3B | First close | Consumer · India | ||
| Shield AI Shield AI develops autonomy software and uncrewed aircraft for military and defense customers. | $1B | Structured equity | Defense tech · United States |