Yotta Energy, an Austin, TX-based intelligent energy storage technology company, raised $3.5M in Series A funding.
The investment, made by APsystems, brings the total Series A round to $16.5m. Last year, Yotta Energy raised $13 million in capital from investors WIND Ventures, Doral Energy-Tech Ventures, Riverstone Ventures, EDP Ventures, and SWAN Impact Network.
The company intends to use the funds to accelerate the scaling of its panel-level solar-plus-storage system, develop new technology, and increase its headcount.
Led by Omeed Badkoobeh, CEO, Yotta Energy is a renewable energy storage company which has developed unique PV-Coupled architecture, a smart energy storage solution designed to scale with rooftop solar PV projects. The patented panel-level energy storage solution can fit under any industry standard solar module, neatly integrating with the solar racking array. Yotta’s technology features advanced thermal management to maintain an optimal working temperature even under extreme outdoor conditions. As an integrated software plus hardware solution, it also helps address grid outages by enhancing grid resilience and reliability.
The company previously partnered with APsystems to develop the company’s Dual Power Inverter (DPI), a power conversion system designed to be interchangeable between solar and energy storage. Yotta and APsystems are also collaborating on the development of a 480-volt, 3-phase, microinverter to scale and compete with string inverters in C&I applications.
FinSMEs
02/05/2022