Omnidian, a provider of monitoring systems for residential and commercial solar assets, raised $25 million in an equity funding round which saw participation from existing investors Activate Capital, WIND Ventures, Avista Development, Inc., Evergy Ventures, National Grid Partners, Congruent Ventures, Blue Bear Capital, and new investor HSBC Asset Management.
Following the Inflation Reduction Act’s enactment, companies have announced over $110 billion in new clean energy manufacturing investments. Addressing the rapidly growing sector, Mark Liffmann, CEO, observed, “The post-purchase experience is often sidelined. At Omnidian, we bridge this chasm in partnership with our clients, nurturing solar assets throughout their life cycle and accelerating clean energy investments.”
According to the company, part of the capital funding will be used to further technical innovation to give clients improved transparency into portfolio performance, job site status, and active remediations.
Liffmann added, “Today our clients have individual portfolio managers. Those won’t be replaced, but we’re building additional transparency and reporting enhancements across our growing portfolio of clients to improve the client experience and support our portfolio managers.”
Recently, raicoon, a provider of AI-based solutions for autonomous solar operations, raised €4 million (~$4.2 million) in a seed funding round. Premier climate, tech, and impact funds PUSH VC, Voltares and a private family office contributed to the strategic funding round.
According to Mercom’s recently released 9M and Q3 2023 Solar Funding and M&A Report, in 9M 2023, VC funding activity rose 4% YoY, with $5.7 billion in 51 deals compared to the $5.5 billion raised in 72 deals in 9M 2022.
Earlier this year, UrbanVolt, a solar-as-a-service company, raised €26 million (~$28 million) from European investor Verdane, bringing the company’s total funding raised to date to €200 million (~$215 million). The funding will help UrbanVolt expand in the Irish, UK, and European markets.