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					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-ore-energy-raises-43-million/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Ore Energy, a developer of iron-air batteries for long-duration energy storage, has <a href="https://mercomcapital.com/ore-energy-raises-43-million-to-scale-iron-air-battery-manufacturing/" target="_blank" rel="noopener">raised</a> $43 million</strong> in Series A funding in a round co-led by Plural and HV. Positron Ventures also participated in the round, bringing the company’s total funding to more than $61 million. Ore Energy plans to use the funding to establish its first manufacturing facility and expand its manufacturing, commercial, and operations teams.</p>
<p><strong>Naked Energy, a solar thermal solutions provider, has <a href="https://mercomcapital.com/naked-energy-raises-12-million-expand-solar-thermal-manufacturing/" target="_blank" rel="noopener">secured</a> a combined £8.9 million (~$12 million)</strong> investment from Great British Energy and Barclays Climate Ventures to establish a manufacturing facility in the U.K. Great British Energy is investing £7.5 million (~$10.13 million) through its Energy Engineered in the U.K. program. Barclays Climate Ventures, an existing Naked Energy shareholder, is also participating in the funding round.</p>
<p><strong>Enpal, a solar PV and battery leasing solutions company, is <a href="https://mercomcapital.com/enpal-sells-majority-stake-in-subsidiaries-for-75-million/" target="_blank" rel="noopener">selling</a> a majority stake</strong> in several of its subsidiaries that hold a portfolio of residential energy systems to an investor consortium. The consortium comprises Equitix Investment Management, Keppel Infrastructure Trust, MM Capital Partners 2, and Mizuho Leasing Company. Enpal will receive up to €65 million (~$75 million) from the transaction through multiple closings.</p>
<p><strong>Solar project developers Verdant Energy and Aura Power Developments have <a href="https://mercomcapital.com/verdant-aura-merge-form-solar-storage-ipp-uk/" target="_blank" rel="noopener">merged</a> to form a solar and battery energy storage system independent power producer</strong> with approximately 1 GW of operating and under-construction assets in the U.K. The merger combines Verdant’s operating and under-construction solar and co-located battery storage portfolio with Aura Power’s contracted project portfolio and will operate under the Aura Power brand.</p>
<p><strong>Robotic solar module cleaning equipment supplier Aegeus Technologies’ ₹237 million (~$2.49 million) initial public offering (IPO) was <a href="https://www.mercomindia.com/aegeus-technologies-initial-public-offering-oversubscribed-24-times" target="_blank" rel="noopener">subscribed</a> </strong>24.33 times at the end of the bidding window on August 6, 2026. The IPO consisted of a fresh issue of 2.26 million equity shares. The price band was set at ₹100 (~$1.05) to ₹105 (~$1.104) per equity share, with a face value of ₹10 (~$0.105). The IPO saw bids for 41.02 million shares out of the 1.69 million shares on offer.</p>
<p><strong>Waaree Smart Meters, a step-down subsidiary of Waaree Energies, has <a href="https://www.mercomindia.com/waaree-buys-stake-in-smart-meter-company-eppeltone-for-%E2%82%B9218-million" target="_blank" rel="noopener">acquired</a> a 24.21% equity stake</strong> in smart meter manufacturer Eppeltone Engineers for approximately ₹217.8 million (~$2.3 million). According to Waaree, the acquisition aims to integrate smart meters into its operations and strengthen its presence across the energy value chain. Eppeltone Engineers manufactures electronic energy meters, including smart meters, and power conditioning devices. Waaree Smart Meters completed the acquisition through an off-market transaction on August 7, 2026.</p>
<p><strong>Electric two-wheeler manufacturer River Mobility has <a href="https://www.mercomindia.com/river-mobility-raises-120-million-in-series-c-funding" target="_blank" rel="noopener">raised</a> $120 million (~₹11.4 billion) in a Series C funding round</strong> led by Elev8 Venture Partners and Claypond Capital. The funding round also saw participation from Singularity AMC, Anicut Capital, 360 ONE Asset, JIIF, and HDFC Asset Management Company. River’s existing international investors include Yamaha Motor, Mitsui &amp; Co., Al-Futtaim, Marubeni Ventures, Lowercarbon Capital, Toyota Ventures, and Maniv Mobility. The company said the funding will support the expansion of its manufacturing footprint.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-ma-roundup-base-power-raises-1billion-funding-round" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Ore Energy Raises $43 Million


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					</table><p>Electric two-wheeler manufacturer <a href="https://www.rideriver.com/indie" target="_blank" rel="noopener">River Mobility</a> has raised $120 million (~₹11.4 billion) in a Series C funding round led by <a href="https://elev8vp.com/" target="_blank" rel="noopener">Elev8 Venture Partners</a> and <a href="https://manipalgroup.com/claypond-capital/" target="_blank" rel="noopener">Claypond Capital</a>.</p>
<p>The funding round also saw participation from <a href="https://singularityamc.com/" target="_blank" rel="noopener">Singularity AMC</a>, <a href="https://www.anicutcapital.com/" target="_blank" rel="noopener">Anicut Capital</a>, <a href="https://www.360.one/" target="_blank" rel="noopener">360 ONE Asset</a>, <a href="https://www.jitojiif.com/" target="_blank" rel="noopener">JIIF</a>, and <a href="https://www.hdfcfund.com/" target="_blank" rel="noopener">HDFC Asset Management Company</a>.</p>
<p>River’s existing international investors include <a href="https://www.yamaha-motor-india.com/" target="_blank" rel="noopener">Yamaha Motor</a>, <a href="https://www.mitsui.com/" target="_blank" rel="noopener">Mitsui &amp; Co.</a>, <a href="https://www.alfuttaim.com/en/" target="_blank" rel="noopener">Al-Futtaim</a>, <a href="https://www.marubeni-ventures.com/en/" target="_blank" rel="noopener">Marubeni Ventures</a>, <a href="https://lowercarbon.com/" target="_blank" rel="noopener">Lowercarbon Capital</a>, <a href="https://toyota.ventures/" target="_blank" rel="noopener">Toyota Ventures</a>, and <a href="https://www.maniv.com/" target="_blank" rel="noopener">Maniv Mobility</a>.</p>
<p>The company said the funding will support the expansion of its manufacturing footprint.</p>
<p>In 2024, River <a href="http://mercomindia.com/electric-scooter-startup-river-raises-30-million" target="_blank" rel="noopener">raised</a> $40 million (₹3.35 billion) in an oversubscribed Series B funding led by Yamaha Motor.</p>
<p>Electric vehicle (EV) sales in India <a href="https://www.mercomindia.com/evs-account-for-over-10-of-vehicle-sales-in-q2-2026" target="_blank" rel="noopener">reached</a> 837,453 units in the second quarter of 2026, a year-over-year increase of 52.3% over 549,900 units, according to the data released by the Ministry of Road Transport and Highways through its Vahan Dashboard.</p>
<p>EVs accounted for 10.6% of overall automobile sales, which totaled 7,896,871 units during Q2 2026. India now has over 9.19 million registered EVs.</p>
<p>In April 2026, the Ministry of Heavy Industries (MHI) <a href="https://mercomindia.com/mhi-slashes-incentives-for-electric-two-and-three-wheelers-under-pm-e-drive" target="_blank" rel="noopener">amended</a> certain provisions of the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) program, reducing incentives for electric two-wheelers and three-wheelers. The amendment clarifies that the program remains strictly fund-limited, with a total approved outlay of ₹109 billion (~$1.16 billion).</p>
<p>In March 2026, Parliament’s Standing Committee on Industry <a href="https://www.mercomindia.com/parliamentary-panel-flags-low-ev-program-utilization-and-skewed-spending-by-mhi" target="_blank" rel="noopener">raised</a> concerns about the dominance of the automobile and EV ecosystem in the MHI, which is around ₹75.37 billion (~$802.49 million), accounting for about 94.9% of the total MHI demand. This is driven by Faster Adoption and Manufacturing of &amp; Electric Vehicles, PM E-DRIVE, PM e-Bus, and Production-Linked Incentive (PLI) Auto, with PLI Auto alone accounting for about 74.8% of total demand.</p>
<p>While the central government has been <a href="https://www.mercomindia.com/policy-fragmentation-across-indian-states-may-delay-transport-electrification" target="_blank" rel="noopener">pushing</a> for EV adoption, India’s EV push is being stymied by policy fragmentation across states, underscoring the need for a uniform nationwide EV policy.</p>


River Mobility Raises $120 Million in Series C Funding

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