Modo Energy, a London-based provider of a software-as-a-service (SaaS) platform specializing in data analytics for renewable energy assets, recently announced that it has raised $15M in Series A funding. Led by MMC Ventures, the round also saw participation from existing investors Triple Point Ventures, Fred Olsen Limited, and Catalyst Capital. This capital infusion will enable Modo Energy to further enhance its expansion plans, with a focus on product enhancement and global market entry.
Founded in 2019 by Quentin Scrimshire and Tim Overton, Modo Energy is a leader in the battery energy storage market in the UK.
Its integrated suite of data-backed tools empowers owners and operators of renewable energy assets to scale battery energy storage systems. With a deep understanding of the dynamic landscape of the energy market, Modo Energy's flagship products, such as Benchmarking Pro and Forecast Pro, provide valuable insights into revenue streams, performance comparisons, and projection tools for financing future battery energy storage projects.
The recent launch of Modo 2.0 further solidifies Modo Energy's position as the all-in-one platform for investors, developers, owners, and operators of battery energy storage assets. Modo 2.0 introduces upgraded approaches to revenue benchmarking and forecasting, offering features such as long-term, bankable price forecasts, in-depth revenue comparisons, and trusted price indices. The platform also provides written research, educational materials, real-time market screens, and a comprehensive array of up-to-the-minute downloadable data. With these new features, Modo Energy continues to provide invaluable support to its clients in navigating the ever-evolving energy market.