PowerMarket secures seed investment from QVentures to advance its solar mapping technology.
QVentures backs the deep learning mapping platform in its latest financing round.
PowerMarket provides deep learning mapping and monitoring software that uses satellite data to identify solar sites and forecast energy generation. The platform helps grid operators, policy makers and real estate asset managers optimise energy trading and site selection.
PowerMarket has secured seed investment from QVentures to support its satellite data analytics platform. The funding adds QVentures to a roster of backers that includes the European Space Agency, Seraphim Space Camp, and Techstars.
The company develops deep learning technology designed to map solar sites and forecast generation for grid management. The fresh capital will assist the firm in expanding its support network and driving commercial growth as renewable energy adoption increases.
From the founder
"It is an exciting time for us to become part of QVentures’ portfolio. We see them not only as an investor, but also a strategic partner; with significant operational expertise and industry knowledge. Having already been backed by some of the world’s leading scientific and venture capital funds, we are excited to be able to further supplement our support network and accelerate our growth."
Abhinav Jain
Co-Founder and CEO at PowerMarket
Investor perspective
"Having seen Abhi and Phil develop the PowerMarket software to fit the energy mapping needs of both grid operators and councils since first engaging with them in November 2019, we’re very excited for the future of PowerMarket and how it can become a staple tool in the smarter and more sustainable cities of the future."
Brian Hatton
Partner, QVentures
Use of funds
- 01Fund the next phase of growth
Investors
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About the company
PowerMarket
PowerMarket uses satellite data and deep learning to identify solar sites and forecast energy generation.