Funds for Energy Assets Analyst Modo

London-based renewable energy assets analytics firm Modo has announced $15m in Series A funding, which it will use to build new features for its energy data 'super-app', and expand into further global markets.

The company was founded in 2019 by Quentin Scrimshire and Tim Overton (pictured), focuses on the UK's battery energy storage market, and boasts as clients the owners and operators of c.90% of Britain's installed grid-scale battery capacity.

Products include Benchmarking Pro, providing data on revenue streams and performance comparisons, and the Forecast Pro tool which helps users finance future projects in the sector. With the investment, Modo says it will build out its service to include a comprehensive array of up-to-the-minute downloadable data, real-time market screens for all the relevant markets, in-depth written research on market trends, education and training materials and an 'easy-to-use' API.

The round was led by MMC Ventures, joined by existing investors Triple Point Ventures, Fred. Olsen Limited and Catalyst Capital.

The company is online at www.modoenergy.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.