Modo Energy secures £1.1m in seed follow-on funding from backers including Michael Liebreich to scale software.
The energy data startup raised capital from a consortium of investors led by Michael Liebreich to expand its analytics platform.
Modo Energy provides data analytics software for renewable energy assets. The platform helps operators and owners of grid-scale battery systems navigate market changes.
Modo Energy has secured £1.1m in a seed follow-on funding round from backers including Michael Liebreich. The capital will be deployed to scale software development and expand analytics offerings for operators of energy storage and flexible generation assets.
Since its launch in 2019, the startup has captured significant market share across the British energy storage sector. Major utilities, asset managers, and energy companies currently utilise the platform for performance benchmarking and market analysis.
The latest capital injection follows a beta platform launch ten months prior. Founders Quentin Scrimshire and Tim Overton established the company after years of developing and operating physical assets.
From the founder
"Batteries, flexibility and renewables are transformational technologies, but we need to leverage data to unlock their true potential. We build cutting edge analytics tools and get the right information into the hands of the people that need it most: the people delivering the energy transition."
Quentin Scrimshire
Co-founder at Modo Energy
Use of funds
- 01Continue product development
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About the company
Modo Energy
Modo Energy provides data analytics software for renewable energy assets.