RatedPower, a Madrid, Spain-based SaaS company developing cloud-based solutions to help companies discover smarter ways to maximize the potential of solar photovoltaic ("PV") plants and reduce the cost of energy ("LCOE"), raised $6 million in Series A.
The round was led by Seaya Ventures, the European venture capital fund behind unicorns Glovo, Wallbox, and Cabify, with the additional participation of US-based investors.
This investment will be used to drive international growth and expansion in key solar markets—especially in the US expedite the product and feature development and accelerate its mission to become the SaaS suite of renewables.
Round: Series A
Funding Month: October 2021
Lead Investors: Seaya Ventures
Additional Investors: US-based investors
Company Website: https://ratedpower.com/
Software Category: Photovoltaics
About the Company: RatedPower develops deep tech, user-friendly, and secure SaaS solutions for renewables and electrical infrastructure. Their software pvDesign automates and optimizes the study, analysis, design, and engineering of solar plants in all its stages, pvDesign RatedPower's software is the all-in-one tool to speed up the optimization, design and engineering process of solar photovoltaic projects. RatedPower's pvDesign has been growing solidly and is now the leading end-to-end software to instantly carry out the design, optimization, and engineering of solar farms in all its stages.