Stem Lands $80 Million to Fuel Its Growing Behind-the-Meter Battery Business
Behind-the-meter battery startup Stem has raised $80 million in a Series D round, with three new investors -- including one that’s helping bring the company’s lithium-ion battery systems to a new international market. The oversubscribed round was led by growth equity firm Activate Capital. It was joined by Singapore-based investment firm Temasek and the Ontario Teachers’ Pension Plan, which manages about CAD $180 billion Canadian (USD $145 billion) in Canada’s largest single-profession pension fund.