Total amount raised
$66.1 Millions
Latest funding date
05/01/2021
Location
Voltus has successfully raised funds through multiple rounds, including a Series C stage, attracting investors such as NGP Energy Technology Partners and Prelude Ventures. The company specializes in providing cash-generating energy products to commercial, institutional, and industrial customers.
Keep reading to explore the intricacies of Voltus's fundraising journey and the investors backing this innovative platform.
What Is Voltus?
Voltus, founded in July 2016 by Gregg Dixon and Matthew Plante, is headquartered in San Francisco, California. The company operates in the energy sector, focusing on energy efficiency, energy management, and distributed energy resources (DER) technology.
With an employee count ranging from 11 to 50, Voltus provides cash-generating energy products to commercial, institutional, and industrial customers. The company helps its clients maximize the value of their operational flexibility in energy markets, operating on a profit-sharing model.
How Much Funding Has Voltus Raised?
- Series A
- Amount Raised: $10.1M
- Date: October 2017
- Lead Investors: Prelude Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of Voltus's energy products.
- Series B
- Amount Raised: $25M
- Date: October 2020
- Lead Investors: NGP Energy Technology Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product offerings.
- Series C
- Amount Raised: $31M
- Date: May 2021
- Lead Investors: Activate Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To monetize additional megawatts of DERs and expand capabilities in sectors like electric vehicles and solar plus storage.
Total Amount Raised: $66.1M. Current Valuation: Not publicly disclosed.
Key Investors
- Activate Capital Partners
- Details: Activate Capital Partners is a growth equity firm that focuses on companies building smart, sustainable systems. They aim to generate top-tier financial returns while contributing to a more efficient and sustainable world.
- Investment Focus Areas: Energy, transportation, industrial technology
- Notable Investments: Not publicly disclosed
- NGP Energy Technology Partners
- Details: NGP Energy Technology Partners is a private equity firm that invests in companies within the energy technology sector. They have a history of supporting innovative energy solutions.
- Investment Focus Areas: Energy technology, clean energy, sustainability
- Notable Investments: Not publicly disclosed
- Prelude Ventures
- Details: Prelude Ventures is a venture capital firm that invests in early-stage companies focused on clean energy and sustainability. They support startups that aim to address climate change.
- Investment Focus Areas: Clean energy, sustainability, early-stage technology
- Notable Investments: Not publicly disclosed
- Ajax Strategies
- Details: Ajax Strategies is a venture capital firm that invests in clean technology and sustainability-focused companies. They aim to support innovative solutions for a sustainable future.
- Investment Focus Areas: Clean technology, sustainability, innovation
- Notable Investments: Not publicly disclosed
What's Next for Voltus?
Voltus stands at the cusp of significant growth, driven by the extraordinary potential of Distributed Energy Resources (DERs). With a serviceable addressable market amounting to hundreds of thousands of megawatts, the company is poised to capitalize on sectors like electric vehicles, microgrids, smart thermostats, and solar plus storage. This expansion could unlock substantial revenue streams, positioning Voltus as a key player in the transition towards distributed and intelligent energy systems.
Future fundraising opportunities appear promising, given the successful Series C round and strategic growth plans. As Voltus continues to expand its market reach and product offerings, additional rounds of funding may be pursued to support further development and market penetration. However, challenges such as integrating various DERs across North America, ensuring the scalability of the VoltApp platform, and navigating regulatory dynamics remain. Overcoming these hurdles will be crucial for Voltus to maintain its competitive edge in the rapidly evolving energy sector.
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