By Battery Power Online Staff
September 30, 2026 |Funding news from around the battery space including investments in battery swapping, recycled lithium, behind-the-meter storage, electric boat propulsion, more.
$120M: Series A for Off-Grid Renewable Power Systems for AI Data Centers
TAR has closed a $120 million Series A at a $1 billion post-money valuation, led by Spark Capital. The Austin, Texas-based company, founded in 2026 by Pat Becker and Leonhard Soenke, builds self-contained systems of renewable generation and batteries in West Texas for AI data centers, handling site selection, engineering, procurement, construction, commissioning, and operation itself. The funding will grow its Austin headquarters and San Francisco engineering office, expand its West Texas logistics and manufacturing operation, and speed up deployments already underway. TAR is executing a utility-scale deployment with one of the largest neoclouds and is finishing TAR Terminal One, its West Texas manufacturing and logistics center. Press release.
$85M: Series E for Electric Motorcycle Production and Global Expansion
Ultraviolette Automotive has raised $85 million in a Series E led by Yali Capital and TDK Ventures. The Bengaluru-based electric motorcycle maker will use the money to scale production, build new EV platforms, and expand across Europe, Japan, and the US. Existing investors Speciale Invest, Qualcomm Ventures, TVS Motor Company, Zoho Corp, and Lingotto also joined, along with Walden International chairman Lip-Bu Tan, who becomes an adviser on US expansion. Founded in 2016, the company sells the F77 and X-47 in 20 European countries, with two more models in development. FY26 revenue rose roughly four- to fivefold to $17.7 million, and it aims to be Ebitda-positive within two years. Press release.
$55.9M: Series E for Home Energy Automation Software and European Expansion
Amber Electric has closed a €49 million Series E led by Morgan Stanley Investment Management’s 1GT private climate equity strategy, with UK energy supplier E.ON also participating following a recent partnership. Founded in Melbourne in 2017, Amber is an Australian energy retailer whose platform uses AI forecasts of wholesale prices, household solar output, and consumption to automate home batteries, rooftop solar, and EVs. It reports more than 50% of the Australian market for automated batteries. The funding will support continued growth and expansion in Europe and address rising demand from utilities and consumers for managing distributed energy resources and integrating renewables. Press release.
$46M: Series A for Embedded Electricity Platform and Expansion Beyond Texas
Light has raised a $46 million Series A led by Matrix, with Activate Capital and existing investors Spark Capital, Mischief, Gigascale Capital, MCJ, and BoxGroup participating. Total funding reaches about $60 million, and its capital base exceeds $100 million including a credit facility. The Austin-based company is the regulated electricity provider behind an API that lets businesses launch branded electricity plans in as little as two weeks. It has joined PJM, the largest US wholesale electricity market, and plans to expand into New Jersey, Pennsylvania, and Illinois. It is also broadening its home battery offering and launching its first EV product, a subscription charging plan. Press release.
$35M: Series A for Battery-Swapping Network Expansion in India
Yuma Energy has raised $35 million in a Series A from Magna International, an existing backer and co-founder of the venture alongside electric mobility platform Yulu. The Bengaluru-based company will expand its battery-swapping network across India, broaden its base of riders, fleet operators, and OEM partners, and strengthen its infrastructure and technology platform. It is targeting EBITDA-positive operations by fiscal 2027. Founded in 2023 and serving electric two- and three-wheelers, Yuma reports more than 60 million swaps completed using over 100,000 batteries, across 2,500-plus charging units and 400-plus touchpoints in 18 cities. Press release.
$33M: Series B for Behind-the-Meter Battery Systems for Commercial Buildings and AI Power Demand
Branch Energy has raised a $33 million Series B led by Piva Capital and Clean Energy Ventures, with Active Impact Investments, Whitecap Venture Partners, and existing investors Prelude Ventures, Zero Infinity Partners, and Inovia Capital participating. Branch installs Arc, a parking-space-sized container holding a battery, grid connection equipment, cooling, and controls, at commercial sites such as warehouses, hotels, and factories, with no upfront payment from the host. Branch becomes the host’s electricity retailer and earns revenue by dispatching stored power to the grid or to contracted buyers such as hyperscalers. The company is expanding from Texas into Illinois and other markets, including PJM territory. Press release.
$23M: Series A for Battery-Swapping Electric Motorcycles in Africa
ARC Ride has raised a $23 million Series A led by Novastar Ventures and Norrsken22, with IFC, British International Investment, and Proparco participating alongside existing investors Musashi Seimitsu and Talanton. Proparco’s share is a $1.5 million equity investment. The Kenya-based company also secured $10 million in debt, bringing the financing package to $33.3 million. ARC Ride uses a Battery-as-a-Service model, in which riders swap depleted batteries at stations rather than owning them. The funds are expected to support 5,000 additional electric motorcycles and more swapping infrastructure, with growth planned in Kenya and expansion into Ghana, South Africa, Tanzania, and Uganda. Press release.
$15M: Series A for Recycled Lithium Carbonate Production in the US
R3 Lithium has closed an oversubscribed $15 million Series A that includes TDK Ventures, Integral GlobalTech Partners, Axial Partners, and others. The Covington, Georgia company owns and is upgrading a 154,000-square-foot facility that recovers lithium carbonate from recycled battery black mass, with 30,000 metric tons of shredding capacity and a 2,500-metric-ton recovery line, and space to double. It is targeting continuous commercial production in 2027 and holds long-term offtake agreements, including with Trafigura, with estimated potential value of about $1 billion over their terms. TDK Ventures, which backed the technology’s earlier development, will also explore technical collaboration with TDK business units. Press release.
$2.8M: Series A First Close for Battery Development and Manufacturing Software
Beff has raised ¥450 million (roughly $3 million) in the first close of its Series A, led by Genesia Ventures with follow-on investment from Mitsubishi UFJ Capital, bringing total funding to ¥650 million. The Tokyo-based company, founded in 2023 by former Nissan engineers Kodai Nagano and Shunsuke Amagai, sells software that integrates material data, manufacturing conditions, and inspection results from battery development through mass production. It has begun offering a core system that pairs its Virtual Factory Platform with a Real Factory Platform lab to catch process problems early and improve yield. Funds will go toward global hiring, expanding its lab, platform development, and customer support, with operations in Japan and Germany. Press release.