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 |
|---|---|---|---|---|---|
| CesiumAstro CesiumAstro builds satellites, communications payloads and ground terminals for commercial operators and defense missions. | $100M | Debt facility | Space tech · United States | J.P. Morgan, Export-Import Bank of the United States (EXIM) | |
| Simulacra Simulacra builds AI models that reproduce individual thinking and combine those models to simulate how groups and societies respond to decisions. | Undisclosed | Pre-seed | AI · Japan | ANRI | |
| Potential Sciences AI and quantum chemistry software that helps researchers calculate molecular properties for drug discovery. | Undisclosed | Seed | AI · United Kingdom | Tim Sadler, Twin Path Ventures (lead), Sovereign AI (lead), Lightfield Equity, rule30, Portfolio Ventures, Blue Wire Capital, Odyssey Ventures, Patrick Collison, Nauta Fund VI, Chris Gibson | |
| Fact Base Fact Base develops Zumen, cloud software for managing manufacturing drawings and related documents. | ¥4.5B | Series D — primary equity and secondary share transfers | Enterprise software · Japan | MPower Partners Fund II, Insight Partners (lead), Artemis Ventures, Inc. | |
| Kabilio Kabilio automates bookkeeping workflows for accounting firms and their small business clients. | €10M | Undisclosed | Fintech · Spain | Picus Capital (lead), Centro para el Desarrollo Tecnologico e Innovacion (CDTI), Visionaries Club (lead) | |
| PXP PXP develops lightweight film solar cells for surfaces that conventional panels struggle to serve. | Undisclosed | Undisclosed | Climate tech · Japan | Tokyo Gas | |
| VÆRIDION Battery-electric regional aircraft for passenger and cargo services. | €30M | Series A2 | Mobility · Germany | SHIFT Invest (lead), Vsquared Ventures, Invest-NL (lead), Project A, Alexander Rittweger, World Fund | |
| Haido An AI personal finance service founded by early Revolut employees Veronique Barbosa and Tom Reay. | Undisclosed | Undisclosed | Fintech · United Kingdom | Eileen Burbidge, Laurence Twelvetrees | |
| smartround smartround provides capital planning and shareholder management tools for startups and investors. | Undisclosed | Pre-Series C | Fintech · Japan | JPX Market Innovation & Research, Inc. | |
| Shield AI Shield AI develops autonomy software and uncrewed aircraft for military and defense customers. | $1B | Series H | Defense tech · United States | Apandion, Center15 Capital, Advent International, Disruptive (lead), Snowpoint Ventures, JPMorganChase Strategic Investment Group | |
| CesiumAstro CesiumAstro builds satellites, communications payloads and ground terminals for commercial operators and defense missions. | $630M | Series D | Space tech · United States | NewSpace Capital, Magnetar, Sumitomo Corporation of Americas, Incharge Capital, Sands Capital, Woven Capital, Insight Partners, Janus Henderson Investors (lead) | |
| Candi Solar Distributed solar and battery storage for commercial and industrial businesses. | $50M | Project financing facility | Climate tech · Switzerland | Green Investments Partnership | |
| Zipline Provides autonomous drone delivery and logistics services | $1.5B | Funding round | Logistics · United States | J.P. Morgan, WCM Investment Management (lead), Tiger Global, Valor Equity Partners, ARK Invest, Salesforce Ventures, Uber, Layer Global (lead), Fidelity Management & Research Company, Paradigm (lead) | |
| Sand.ai Sand.ai develops video-generation foundation models and AI tools for creating audiovisual content. | $200M | Series A+ | AI · China | MPCi, Orient Securities Capital Investment, Panlin Capital, Jeneration Capital, Shandong Railway Development Fund, HyT Capital, CoStone Capital (lead), TJVCM, Pudong Chuangtou, Shandong Tietou Chantou, Shanghai Guofang, CAS Star, Wangsu Science & Technology (lead) | |
| Nayara AI patient companions that support care journeys and keep clinical teams informed between appointments. | Undisclosed | Pre-seed | Healthtech · United Kingdom | SFC Capital (lead) | |
| ZhenTec ZhenTec develops brain-computer interface rehabilitation systems combining neural-signal analysis, virtual reality and rehabilitation robotics. | Undisclosed | Series B | Healthtech · China | Zhangjiang VC, Xinda Weilai Chanye Fund | |
| 6K 6K develops microwave plasma technology for producing battery materials and engineered powders from metals, recycled feedstocks and other materials. | ≤$250M | Conditional loan commitment | Industrial tech · United States | Office of Strategic Capital | |
| WAKAZE WAKAZE makes and wholesales kegged cocktails for restaurants, hotels and bars in Japan. | Undisclosed | Undisclosed | Consumer · Japan | PARTNERS FUND (lead) | |
| 北京匠心互娱科技有限公司 Beijing Jiangxin Huyu Technology is a Beijing technology company with registered activities in software, AI applications and cultural events. | Undisclosed | Equity investment | Media & gaming · China | Guangxi Tencent Venture Capital Co., Ltd. | |
| Nahato Nahato is a Japanese marketing company providing influencer advertising, social media campaigns and business development services. | ¥4B | Debt financing | Business services · Japan | Mizuho Bank, Ltd. (lead) | |
| Siggy Mental healthcare combining AI intake and daily check-ins with assessment and treatment by licensed clinicians. | $6M | Pre-seed | Healthtech · United States | Mystic Ventures, Coalition Operators, Village Global (lead), Albert Wenger, Gokul Rajaram, Immad Akhund, PsyMed Ventures | |
| RadianX Perovskite solar materials and power systems for devices and connected hardware. | $5M | Seed | Climate tech · United States | Twynam (lead), One Small Planet, Sachsen Ventures, quantumEDGE, California Innovation Fund, Riceberg Ventures, Alumni Ventures, SOSV (lead), Avila VC | |
| Kalepa Kalepa provides AI software for insurers that coordinates work across operations, underwriting, pricing and portfolio management. | $75M | Series B | Fintech · United States | IA Ventures, Updata Partners (lead), Inspired Capital | |
| EloElo Group EloElo Group builds mobile entertainment and learning apps alongside AI tools for video production. | $80M | Series C | Media & gaming · India | NBCUniversal (lead), Kalaari Capital, Hornbill Capital (lead), Griffin Gaming Partners, MIT Investment Co., Play Ventures, WaterBridge Ventures | |
| Crediflow AI Crediflow AI automates document preparation, financial analysis and credit memos for commercial lenders. | £1.5M | Equity financing | Fintech · United Kingdom | NPIF II - PXN Equity Finance (lead), Haatch | |
| 44.01 44.01 develops carbon mineralisation technology that stores captured CO₂ permanently in underground rock formations. | Undisclosed | Strategic investment | Climate tech · Oman | Holcim | |
| Takenos Takenos builds stablecoin payment infrastructure, dollar accounts and business APIs for Latin America. | $7M | Seed extension | Fintech · Argentina | Lattice Fund, Road Capital Management (lead), North Island Ventures (lead), Reverie, Variant | |
| Ottonomy Ottonomy develops autonomous delivery robots for hospitals, industrial facilities and other indoor and outdoor environments. | ~$4.2M | Pre-Series A | Robotics · United States | ENRISSION SP26 India Investment Limited Partnership | |
| Zebras and Company Zebras and Company invests in and supports businesses that combine sustainable operations with social impact. | Undisclosed | Equity financing | Business services · Japan | Iwami Ginzan Lifestyle Culture Institute, Just Be Capital, HOXIN | |
| Quadlytics Quadlytics develops wearable heart-monitoring and software technology intended to warn people before epileptic seizures. | ¥600M | Series B | Healthtech · Japan | JP LIFE NEXT 1 Fund (lead), OLtV Opportunity Fund, XTech Fund 3, Samurai Growth Fund 1, NextG Fund |