Power industry venture financing deals total $824.6m in US in January 2021

22 February 2021 (Last Updated February 22nd, 2021 14:49)

Total power industry venture financing deals worth $824.6m were announced in the US in January 2021, led by $590m venture financing of Sila Nanotechnologies, according to GlobalData’s deals database.

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The value marked an increase of 436% over the previous month of $153.85m and a rise of 434.5% when compared with the last 12-month average of $154.29m.

The US held a 76.35% share of the global power industry venture financing deal value that totalled $1.08bn in January 2021.

In terms of venture financing deal activity, the US recorded 20 deals during January 2021, marking a decrease of 23.08% over the previous month and a rise of 25.00% over the 12-month average.

US power industry venture financing deals in January 2021: Top deals

The top three power industry venture financing deals accounted for 80.09% of the overall value during January 2021.

The combined value of the top three power venture financing deals stood at $660m, against the overall value of $824.6m recorded for the month.

The top three power industry venture financing deals of January 2021 tracked by GlobalData were:

1) 8VC , Bessemer Venture Partners, Canada Pension Plan Investment Board, Coatue Management, Sutter Hill Ventures and T Rowe Price Associates’ $590m venture financing of Sila Nanotechnologies

2) The $50m venture financing of FreeWire Technologies by Alumni Ventures Group, BP Ventures, Energy Innovation Capital, Riverstone Holdings and TRIREC Pte.

3) Amazon Alexa Fund and Munich Re Ventures’ $20m venture financing of Span.IO

Visit our ‘Power Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the power industry.