Piclo raises £4.7m in Series A funding led by Clean Growth Fund
Mott MacDonald Ventures has joined the Clean Growth Fund and Green Angel Syndicate to back the energy flexibility platform.
Piclo develops software solutions that enable electricity buyers and sellers to trade capacity, supporting the decarbonisation of electrical networks. Its platform operates across six markets globally, including the UK, the US and Australia.
Piclo has secured £4.7m in a Series A funding round led by the Clean Growth Fund, with participation from Mott MacDonald Ventures and Green Angel Syndicate. The capital will support the company in expanding its team, advancing product development, and accelerating the growth of its energy flexibility markets in the UK and internationally.
The investment marks the conclusion of Piclo's Series A financing, following earlier backing from the Clean Growth Fund in late 2020. Mott MacDonald Ventures plans to work alongside Piclo to deliver digital solutions across multiple infrastructure sectors, aligning with broader decarbonisation strategies.
From the founder
"Strategic partnerships are very important for facing up to the challenge of decarbonisation, so it’s fantastic to close our Series A round with a like-minded investor that is as ambitious as we are. Alongside Mott MacDonald with the active support of the Clean Growth Fund and the Green Angel Syndicate, Piclo will continue to accelerate flexibility markets in the UK and internationally, grow our team and ramp up the development of new solutions"
James Johnston
CEO at Piclo
Investor perspective
"Mott MacDonald’s welcome investment in Piclo is testament to their commitment to Net Zero. The Clean Growth Fund actively encourages co-investment from major corporates who have such an important role to play in achieving the global Net Zero goal"
Beverley Gower-Jones
Managing Partner, Clean Growth Fund
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
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About the company
Piclo
Piclo operates a global energy flexibility marketplace that makes electricity grids smarter and more sustainable.