2 years ago

Modo Energy Secures $15 Million Series A Funding to Expand Data Analytics Platform for Renewable Energy

  • Modo Energy, a London-based provider of a SaaS platform specializing in data analytics for renewable energy assets, has raised $15M in Series A funding led by MMC Ventures

  • Existing investors Triple Point Ventures, Fred Olsen Limited, and Catalyst Capital also participated

  • The company plans to use the funds for product enhancement and global market entry

  • Founded in 2019, Modo Energy specializes in the battery energy storage market in the UK, providing data-backed tools to empower owners and operators of renewable energy assets

  • Its flagship products include Benchmarking Pro and Forecast Pro, which offer insights into revenue streams, performance comparisons, and financing projections for battery energy storage projects

  • The company recently launched Modo 2.0, an update that aims to upgrade revenue benchmarking and forecasting in battery energy storage, offering a comprehensive suite of features for investors, developers, owners, and operators of battery energy storage assets.

      • ProblemSustainability and Renewable Energy

      "making renewable energy more reliable and efficient by enabling owners and operators of renewable energy assets to scale battery energy storage systems"

      Solution

      "an integrated suite of data-backed tools that provide insights into revenue streams and performance comparisons, and help navigate the dynamic energy market"

      Covered on