Modo Energy Secures $17 Million Financing to Expand AI Platform for Renewable Energy Assets
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Modo Energy Raises $17 Million to Grow AI-Powered Valuation Platform
London-based energy technology company Modo Energy has secured $17 million in financing from CIBC Innovation Banking, bringing its total funding to $52 million.
Founded in 2019, Modo Energy plans to use the financing to enhance its AI-powered valuation platform and expand its sales and marketing operations.
Supporting Renewable Energy Investment
Led by Quentin Scrimshire, Modo Energy develops Ko, an AI-powered valuation platform for energy storage and renewable energy assets. The platform provides market intelligence and forecasting tools that help investors, developers, and operators evaluate renewable energy projects.
Modo Energy currently covers 15 energy markets, serves more than 200 companies across 30 countries, and says its forecasts have supported the financing of over $3.8 billion in energy assets.
Accelerating Platform Growth
The latest financing will support continued investment in the Ko platform while expanding the company's commercial reach as demand for energy storage and renewable infrastructure continues to grow.
