Sequoia not shy about investing in energy, transportation startups
Summary
Just don’t call it cleantech — that term has morphed into a dirty word for venture capitalists and the limited partners that put money into VC funds. But Valley leader Sequoia Capital has quietly been investing in a decent number of energy, transportation and resource-focused startups that were once considered part of the cleantech sector throughout 2013. More recent Sequoia Capital moves in energy transportation include joining another funding round for efficient engine startup Achates Power, which closed on a $35.2 million Series C round this week, and backing a stealthy robotic solar startup called Alion Energy, first reported by the New York Times this week. Sequoia has backed battery company A123 Systems (which went public in 2009), as well as eMeter, an energy software startup that was acquired by Siemens in late 2011. As a significant portion of the venture investors have cooled off from backing “cleantech,” some of the firms that like to zig when everyone else is zagging could see this space as a newer opportunity.
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