Clean energy consulting firm Mercom Capital Group has released its funding and mergers & acquisitions work report for smart grid sector.

The second quarter of 2013 report says that the smart grid venture capital (VC) funding was totaled $50m in ten deals.

According to Mercom Capital Group, excluding the third quarter of 2012, the funding was stagnant in the range of $50m-$70m for nearly two years in nine to 12 deals.

Mercom Capital Group CEO Raj Prabhu said, "Even though the number of deals were consistent compared to the last few quarters, this was one of the lowest funding quarters in the last four years."

During the second quarter of 2013, the five deals were led by Enlighted, which raised $20m in a series C fund.

The financing round was led by RockPort Capital and later DFJ JAIC, Kleiner Perkins Caufield & Byers, Draper Fisher Jurvetson, and Intel Capital also participated in the round.

In a separate deal, C3 Energy raised $15m.

In another round led by Navitas Capital, which include Pacific Capital Management and Optimum Energy, raised $15m of funding.

Most of the deals under the smart grid sector was led by home and building automation companies, which raised $33m in five deals.
In three deals, grid optimization companies raised $17m.