The largest this week:
🇺🇸 Plenty - a vertical farming startup - raised a $400M Series E round from Softbank, Walmart and JS Capital Management. Investment into vertical farming startups was at similar level in 2019, 2020 and reached it all-time high in 2021 with $700M invested.
🇮🇳 Ola Electric - an electric scooter manufacturer subsidiary of Ola - raised a $200M round from Tekne Capital Management, Edelweiss, and Alpine Investors at a $5.0B valuation. Ola Electric reached the $1B valuation in July 2019 when Softbank invested $250M in the company.
🇫🇷 Descartes Underwriting - an insurtech company specialized in climate risk modelling - raised a $120M Series B round from Alma Mundi Ventures, Eurazeo, Seaya Ventures, Highland Europe, Serena, BlackFin Capital Partners, and Cathay Innovation. Descartes Underwriting is now the #5 most capitalized impact insurtech startup globally.
Other notable impact deals:
🇧🇪 Cowboy - an electric bike manufacturer - raised a $80M Series C round from Index Ventures, Tiger Global, TriplePoint Capital, Isomer Capital, Future Positive Capital, Exor Seeds, HCVC, and Siam Capital. This makes of Cowboy the second most capitalized e-bike manufacturer after the Dutch VanMoof.
🇮🇱 H2Pro - a green hydrogen startup - raised a $75M Series B funding from Breakthrough Energy Ventures, Tamasek, Yara Ventures, and ArcelorMittal. Israeli impact startups already raised $517M in 2022 YTD.
🇺🇸 Kula Bio - a sustainable nitrogen fertilizer startup - raised a $50M Series B round from Lowercarbon Capital, Collaborative Fund, iSelect Fund, and the Grantham Foundation. Sustainable fertigation startups raised a record $630M last year.
🇪🇪 Skeleton Technologies - a manufacturer of high power density ultracapacitor - raised a €38M in Series D funding at a €207M valuation from InnoEnergy, Nidoco Group, Taavet Hinrikus, and other investors. Skeleton Technologies is the most valuable Estonian impact startup followed by Click & Grow and Ampler Bikes.
🇳🇴 Heaten - a developer of heat pumps for industrial usage - raised a €6M Series A round from Shell Ventures, Nysno Climate Investments, and Azolla Ventures. You can discover other startups working on heat pumps here.
🇨🇦 Nectar Technologies - a precision beekeeping technology startup - raised an undisclosed Seed round from Koan Capital. Interested in bees & pollination startups? You can check out other 44 startups here.
Read up on all the latest impact deals in Dealroom.co
Notable exits:
🇫🇷 Plume Labs - an air quality tracker startup - was acquired by AccuWeather.