Yotta Energy, an Austin, Texas-based energy tech company, closed a $5M seed funding.
Backers included Fiftysix Investments, EDP Ventures, Skyview Ventures and other undisclosed investors.
The company intends to use the funds to finalize UL certification and commence commercial production of its panel-level, PV-Coupled™ energy storage technology.
Led by CEO Omeed Badkoobeh, Yotta Energy provides a patented thermal management system for batteries which enables a decentralized format for solar-plus-storage which is ideal for rooftop commercial and industrial applications. Yotta’s panel-level energy storage solution can easily fit under any solar module, neatly integrating with the solar racking array. The plug-and-play design simplifies and standardizes the integration of energy storage with solar projects, eliminating the need for heavy, difficult to install enclosures and complicated HVAC systems. Additionally, the company’s passive thermal management technology allows its batteries to withstand extreme weather and extend their lifespan.
FinSMEs
11/11/2020