Energy

The Toyota and SMBC-backed VC vehicle has joined Anglo American Platinum, Mitsubishi and Public Investment Corporation in the hope of increasing its investment in hydrogen economy applications.

GCV Powerlist member Thomas Birr is set to leave his role managing Innogy’s innovation activities to perform similar duties at Eon as the energy utilities prepare to merge.

Johnson Controls-backed energy efficiency services provider Carbon Lighthouse has received $32.6m in a round that included $20m from Cox Enterprises.

Argentina-based YPF has set up a corporate venture capital subsidiary, YPF Ventures, and will conduct international and local deals respectively through Argentina Energy Bridge Fund and YPF Early Stage Fund.

Off-gird solar system provider Azuri secured funding in a Marubeni-led round that was also backed by IP Group, and will use it to enter new markets.

The renewable energy supply marketplace raised $20.5m in the round, which featured Exelon's Constellation Technology Ventures, Equinor Energy Ventures, Total Ventures and Avista Development.

Shell Foundation and Engie RDE Fund were among the participants in the biodigester technology provider's first notable round since it was founded nine years ago.

India-based payment tech company PhonePe is looking to raised $1bn at $7bn-$8bn valuation from various investors, including Tencent.

In February and March 2019, we conducted a small pilot survey (n=31) of founders of businesses that have received corporate funding, which were referred to the survey by their corporate backers. We called it the “GCV Founders Survey” and it gave us some interesting insights.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

GUV editor Thierry Heles spoke to professionals from three fusion energy technology companies to gauge the challenges involved in scaling a breakthrough technology.