Orkestra Energy Raises A$2 Million in Seed Round

by Kay Aloha Villamor in October 23rd, 2023

Orkestra Energy, a Melbourne, Australia-based software startup that aims to make it easier for energy providers and solar installers to assess the feasibility of commercial-scale renewable energy projects, raised AUD$2 million (USD 1.27 million) in seed funding.

SaaS Investors

The round was led by Tidal Ventures, with participation from Rampersand, Impact Ventures and Luxem.

Founded in 2016, Tidal Ventures is a venture capital firm based in Sydney, Australia. The firm invests in early-stage technology companies bound for global markets and specializes in seed-stage investing.

Orkestra Energy Use of Funds

The company plans to use the funding to accelerate its global expansion initiatives, develop innovative product features, and execute strategic growth plans.

About Orkestra Energy

Founded in 2020 by James Allston, Chris Cooper, and Michael Jurasovic, Orkestra offers software-based tools that are designed to improve how commercial and industrial solar, battery, and electric vehicle (EV) charger projects are scoped and sold. The company said its software as a service (SaaS) platform provides energy companies with the tools necessary to improve both the economics and effectiveness of new energy projects. Their platform combines an easy-to-use interface with mathematics and data science to provide advanced modeling capabilities that reduce the cost and time required to evaluate project feasibility and optimize project outcomes. Its mission is to help teams deploy new energy solutions to the world's businesses.

Funding Details

Company: Orkestra Technologies Pty Ltd

Raised: AUD$2.0M

Round: Seed Round

Funding Month: October 2023

Lead Investors: Tidal Ventures

Additional Investors: Rampersand, Impact Ventures and Luxem

Company Website: https://www.orkestra.energy/ 

Software Category: Feasibility Software

Source: https://www.pv-magazine-australia.com/2023/10/20/orkestra-energy-to-finetune-growth-plans-with-2-million-seed-round/

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