Energy startups raise large rounds to scale batteries and solar

Antora Energy, which supplies energy from thermal batteries to data centers, said Thursday it raised $550 million in a Series C round co-led by G2 Venture Partners and Eclipse, according to Crunchbase News. The San Jose company has now raised $770 million since 2017, after a $150 million Series B in February 2024, and did not disclose a valuation. Antora said the new capital will help it deploy large projects nationwide to serve rising energy demand. Its thermal batteries hold cheap electricity as heat in solid carbon blocks and release it later as heat or electricity. The company recently deployed a 5-gigawatt-hour thermal battery installation in South Dakota, which it describes as one of the world's largest battery storage projects.

The Business Journals reported on August 3 that Austin-based Base Power, which makes batteries to power homes during outages, raised another $1 billion, reaching a $13 billion valuation. Founded by Zach Dell and Justin Lopas, Base Power also introduced a home battery designed for quick rollout across the U.S.. The company operates a factory in the former Austin American-Statesman building on South Congress Avenue.

ETEntrepreneur reported on August 7 that Matel Motion & Energy Solutions raised ₹130 crore in a Series B led by UC Impower, with Catamaran joining and existing investor Transition VC participating. The Pune-based company makes energy-efficient motors, controllers and integrated powertrains for vehicles and industrial equipment. The capital will scale manufacturing capacity, strengthen R&D and expand engineering and production teams.

Disrupt Africa reported that South Africa-based Yellow raised an undisclosed Series C led by Convergence Partners, which also led its $14 million Series B in 2023. Yellow sells pay-as-you-go solar systems for rural, lower-income homes and has expanded into digital devices such as smartphones. The company has served more than one million customers and uses AI credit scoring to evaluate customers and offer financing. The round supports expansion in African markets such as Malawi, Zambia, Uganda, Rwanda, Madagascar, DRC and Nigeria. CEO Mike Heyink said the investment puts Yellow on track to serve 10 million customers with electricity and internet by 2030.

Crunchbase counted more than $15 billion invested in seed through growth-stage cleantech, EV and sustainability companies in the first half of 2026, on pace to slightly exceed the 2025 total, though that was the lowest in several years. The funding flows as demand for energy rises from data centers, according to Antora. Antora says its thermal batteries can serve chemical plants, food producers, steelmakers, data centers and the grid without supply-constrained minerals or multi-year construction timelines.

Scaling these businesses is capital intensive. Antora plans to deploy large projects nationwide while operating a San Jose factory it says ranks among the country's largest battery gigafactories. Base Power is rolling out a new home battery across the U.S. and operating a former newspaper building factory. Yellow is expanding across seven African markets while financing distributed solar and smartphone purchases. Matel is scaling manufacturing capacity and expanding engineering and production teams for energy-efficient motors.