August 14, 2025 – Mercom Capital Group, a global clean energy communications and consulting firm, released its report on funding and merger& acquisition (M&A) activity for the global Smart Grid sector for the second quarter (Q2) and first half (1H) of 2025.
Corporate funding for Smart Grid companies in 1H 2025 totaled $1.4 billion in 48 deals, 13% lower year-over-year (YoY) compared to $1.6 billion raised in 36 deals in 1H 2024.
Boosted by investments in Smart Charging companies, VC funding across all Smart Grid companies in 1H 2025 totaled $1.1 billion in 41 deals, 8% lower YoY than the $1.2 billion raised in 29 deals in 1H 2024.
The Top 5 Smart Grid VC funding deals in 1H 2025 were: Believ ($410 million), Connected Kerb ($81 million), Smart Wires ($65 million), Utilidata ($60 million), and GreenWay ($54 million).
Announced debt and public market financing for Smart Grid technology companies totaled $300 million in seven deals in 1H 2025, compared to seven deals worth $321 million in 1H 2024.
In 1H 2025, there were four Smart Grid M&A transactions (one disclosed) compared to three transactions (all undisclosed) in 1H 2024.
