The London-based startup secured the capital from backers including Seedcamp and Brighteye Ventures to scale its team and product offerings.
"Think of someone digging a hole (excavating). Sounds simple, but hit a high-pressure pipeline and you’ve got fatal consequences. It’s a dangerous task – so how is it taught? In a classroom, with a 20-question written assessment. This is clearly ridiculous. It’s situations like this – and their larger-scale impact – that we’ve set out to change."
Connect Ventures led the seed financing round to support domestic growth and team expansion.
"Our latest round of investment underscores the urgency of our mission. Businesses shouldn’t bear high costs due to a lack of understanding about where or how to find better deals. Our platform provides instant, transparent access to the best solutions for each business. It not only saves time, but also introduces a level of pricing fairness previously unseen in the industry."
The London-based software provider secured backing from MMC Ventures, Triple Point Ventures, Fred Olsen, and Catalyst Capital.
"We’ve diligently expanded our product offering while maintaining a close connection with our customers, delivering exciting and market-leading features. This investment from MMC Ventures is a testament to their faith in our products, our team, and the limitless potential Modo Energy’s solutions offer, shaping the future of sustainable energy for the better."
Triple Point provided the debt facility to support the company in advancing its UK solar and energy storage projects.
"We have a strong, long-standing relationship with Innova, and this significant deal represents an exceptional opportunity – supporting the acceleration of the energy transition industry and backing one of the UK’s leading operators."