Check out the details below on three recent funding deals totaling more than $54 million.
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EnergyX, a Puerto Rico-based lithium mining startup that has a sizable presence in Austin, said April 11 it secured $50 million in series B funding from GM Ventures, the venture capital arm of General Motors Co.
EnergyX, founded in 2018 and operating legally as Energy Exploration Technologies Inc., has developed a new way of extracting lithium from brine. It frames that process, called direct lithium extraction or DLE, as a more efficient and sustainable way to obtain lithium metal. Traditionally, lithium is mined from hard rock ore, brine deposits and clay. That usually involves drilling into rock or deep wells leading to brine deposits and pumping that to the surface in a large evaporation pond where it concentrates as lithium salt, which is later processed into lithium carbonate.
The company employs about 50 between South America, Puerto Rico and Austin, where it has a 40,000-square-foot innovation and manufacturing facility. Executives plan to hire about 50 more.
Haven Energy Inc., a new Austin startup led by former Casper and Uber executives, said April 12 it raised $4.2 million in seed funding for its home battery planning services. The round was led by Lerer Hippeau and Giant Ventures, with participation from Quantum Innovation Fund and Raven One Ventures. The startup, which has plans to launch operations in Southern California, helps homeowners select home battery systems, get quotes, find electricians and, later, can enroll them in Haven's virtual power plant program that lets them get paid during peak hours of energy demand.
Haven was co-founded by CEO Vinnie Campo, Chief Product Officer Jeff Chapin and adviser Philip Krim. Campo, who is based in Austin, is a former Uber general manager and was most recently country manager at renewable energy supplier Bulb. Chapin and Krim are co-founders of Casper. The company is hiring for roles in Austin, California and remotely.
"Home battery prices have decreased substantially in the past 10 years, and for the first time, homeowners can earn a federal tax credit to help significantly lower the cost of installation," Campo stated. "We're creating a turnkey home battery system experience by offering homeowners speed, simplicity and a way to generate additional revenue, all while providing backup power to their homes."
Austin-based regulatory technology startup RiskScout has secured an investment from local investment firm ATX Venture Partners. The company, operating legally as VeriLeaf Inc., didn't share the amount of the funding round, but plans to use the new money to accelerate its growth, expand product offerings and invest in new partnerships to better serve community banks.
"We couldn't be more thrilled to have our round led by an Austin-based investment firm who has demonstrated their focus on FinTech that helps communities and the institutions that bank them," CEO Justin Fischer stated. "This partnership is a testament to the strength of our local banking community and the innovative spirit that is so deeply ingrained in our state's culture."
For more local deals, check out another recent funding wrap. And subscribe to Austin Business Journal for startup resources such as lists of venture capital and private equity firms, incubators and accelerators, angel investors and coworking providers.
