Shifted Energy, a Honolulu, Hawaii-based provider of a distributed energy resources (DER) platform, raised $4.3M in Seed funding.
The round was led by EPIC Ventures and Kapor Capital, with participation from Buoyant Ventures, Startup Capital Ventures x SBI Fund, and Hunt Development.
The company intends to use the funds for talent acquisition and expansion of coverage areas throughout the U.S., Canada, and Australia.
Founded in 2016 and led by CEO Forest Frizzell and CTO Olin Lagon, Shifted Energy supports utilities, property managers and owners of multi-family housing through the deployment of low-cost distributed energy resource control and monitoring systems, machine-learning data analytics, and dispatch optimization software. Its software creates virtual power plants out of single and multifamily homes by connecting electrical appliances such as water heaters and EV chargers to a cloud-based platform. The company aggregates and optimizes participants that it serves as distributed energy resources that provide benefits to both grid utilities, in the form of energy storage, load reduction and fast-frequency response, and utility customers, who benefit from bill credits and financial incentives. The technology is scalable, and able to connect to any cloud-connected smart device.
FinSMEs
07/03/2023