Alternative Energy Equipment Fervor Maintains Pace, Mostly
April 27, 2012
tenKsolar, a provider of rooftop solar solutions, has bagged $15.5 million in Series B venture funding. South Korea-based Hanwha led the round and was joined by U.K.-based ESB Novusmodus, a European cleantech fund.
Cleantech continues to be a hot investment space, which makes us wonder why 2012 isn't off to a slightly more powerful start for investments in the Alternative Energy Equipment industry. Taking a look back at the past few years, deal flow in this area was fairly steady from 2009 to 2011. Since 2009, VC investors have invested in a total of 44 companies primarily involved in the Alternative Energy Equipment industry, according to the PitchBook Platform. With a current count of 6 deals, 2012's deal pace is lagging just a bit behind last year's. However, with recent funds being snagged by cleantech-focused startups (like tenKsolar's $15.5 million financing), VC investors have plenty of time to boost deal counts in this industry.
*2012 to date
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