Raptor Maps raises $22M to track solar energy usage
Raptor Maps, a Y Combinator-incubated startup that's developed software to track the solar energy life cycle, has closed a $22 million Series B, Axios has learned.
Why it matters: The company's portfolio includes customers in 40 countries that produce some 50 gigawatts of solar.
The details: The Series B was led by MacKinnon, Bennett & Co.
- Additional investors included the Microsoft Climate Innovation Fund, Blue Bear Capital, DNV, Buoyant Ventures, Congruent Ventures, Data Point Capital and ENGIE New Ventures.
- The company will use the funding to scale-up hiring and invest further in product.
How it works: Raptor aims to capture the data that’s been unstructured or unavailable, co-founder and CEO Nikhil Vadhavkar tells Axios. That can range from weather conditions to solar panels' serial numbers.
- The company does this in part by creating "digital twins" of solar farms that are under construction or operation.
- The goal: "Make it easier to manage large-scale solar farms and get the most output out of them," Vadhavkar says.
- Customers include Tesla, SOLV Energy, Rosendin Electric and Cypress Creek Renewables, among others.
The bottom line: As more investors of all sizes enter the solar industry, supply chains and management are getting ever more complicated.