Optiwatt, a San Francisco, CA-based consumer energy optimization app and operating system, has closed $7 million in Series A funding.
The round was led by Navitas Capital and included new investor Skyview Ventures, alongside existing partners Google Ventures (GV), Active Impact Investments, Urban Innovation Fund, and Thin Line Capital.
Founded in 2009, Navitas Capital is a venture capital investment firm based in Los Angeles, California. The firm seeks to invest in the real estate and construction industries.
Optiwatt Use of Funds
The company plans to use the funds to expand operations and development efforts.
Founded in 2020, Optiwatt provides a telematics-based home energy analytics platform that operates a large EV-managed charging fleet with over 70,000 vehicles connected and a growing network of thermostats. The company also partners with various North American utility providers to develop localized solutions for charging sustainability.
Company: Compass Global, Inc.
Round: Series A
Funding Month: November 2023
Lead Investors: Navitas Capital
Additional Investors: Skyview Ventures, Google Ventures (GV), Active Impact Investments, Urban Innovation Fund, and Thin Line Capital
Company Website: https://optiwatt.com/
Software Category: Energy Optimization