Fred Olsen led the pre-Series A round, which will fund European expansion and new product development.
"Fred Olsen and Triple Point are a great match for Modo Energy – they share our big ambitions around net-zero and the massive potential of data within this sector. They’re also completely aligned with our mission – to help companies achieve huge success with their energy storage assets. We’re seeing more and more companies incorporate an Asset Success mindset into their business strategy – particularly the leading funds and investors in the energy storage space. Asset Success is all about data transparency – understanding markets and assets, forecasting what comes next, and bringing this all together to enable informed, high-quality decision-making."
AlbionVC led the seed round with participation from Vast Ventures and Form Ventures to support platform expansion and team growth.
"Over the last several years, we have seen a fintech consumer revolution and the provision of debt from businesses to consumers has skyrocketed. As a result, many businesses now have the power to choose where the line between good or poor financial health gets drawn for their customers. It is time for businesses to start drawing this line empathically. We are thrilled to be partnering with the Ophelos team as they rebuild the relationship between businesses and consumers."
The funding round was co-led by Bayes Entrepreneurship Fund, Juno Capital and The FSE Group.
"We’re very excited to announcethis new funding as we embark on a significant new stage of our growth plans. Toreceive backing from such reputable and experienced investors is a huge testamentto our vision, technology and team. We strongly believe our automated business-centric approach to controlling data access and sharing is the only way thatenterprises can truly control access to their data. With this funding, we are trulysolving the ‘who has access to what’ problem, on a global scale."
The seed round was led by Love Ventures with participation from Concrete Ventures and industry angels.
"Having developed a unique market-leading solution for the commercial property leasing process, we felt that the size of the opportunity to expand into new sectors and geographies warranted an influx of capital. In Love Ventures, Concrete Ventures and multiple industry-leading angels, we have got passionate, smart and supportive partners who we are thrilled to welcome aboard for the next phase of our journey."
The financing round was backed by investors including Elkstone Capital, SciFounders, and Faber.
"Our mission is to revolutionise the user experience of healthcare. We do that by building medical devices with a patient-first approach, and focusing on the needs that truly matter to patients. This funding round will allow us to complete first in patient clinical trials of our innovative Lily Device, and accelerate our path to market launch and patient impact in 2024"
