Yotta Energy, an Austin, TX-based renewable energy storage company, raised $13m in Series A funding.
The round, which brought total funding to $20 million, was led by WIND Ventures, with participation from Doral Energy-Tech Ventures, Riverstone Ventures, and returning investors EDP Ventures, and SWAN Impact Network.
The company intends to use the funds to scale its modular energy storage and microgrid technology, specifically designed to transform buildings into self-generating power plants.
The company intends to use the funds to expand product deployments in the U.S. and Latin America, increase company employment, open up energy generation revenue for commercial flat-roof buildings, and help North and South America meet decarbonization goals.
Led by Omeed Badkoobeh, CEO and Co-founder, Yotta provides a modular solar plus storage microgrid platform that increases energy reliability of commercial and industrial buildings giving owners control of their energy. Its patented thermal management technology for energy storage is designed to protect batteries in a wide range of weather conditions. Yotta’s flagship product, the SolarLeaf, is a distributed battery solution installed under individual solar panels. Similar to the distributed architecture of microinverters, the module-level battery uses Lithium-Iron-Phosphate chemistry and is typically installed with three feet of spacing between each unit.
With deployments across several states, including California and Texas, and pilot projects with several utilities, the company’s commercial rooftop applications are gaining traction with the commercial and industrial markets. Most recently, Yotta cemented a 12-project deal with Louisiana commercial solar installer EcoBuild; the first of which is a 87kW solar and storage microgrid system.
FinSMEs
08/11/2021