Wattch, a provider of monitoring and control solutions for solar and battery storage, has raised $6 million in a seed funding round led by Spero Ventures, with contributions from cybersecurity pioneer Christopher Klaus and other energy investors.
The company has recently upgraded its Energy Management System (EMS) with features such as autonomous economic optimization and scheduled operations, thereby enhancing customer control over their energy infrastructure.
How the funding will be used: This funding will support Wattch’s efforts to help developers, utilities, and independent power producers optimize their energy assets and expand its presence in the grid-scale battery storage market.
The funds will also be used to grow the engineering and project implementation teams, accelerate product launches, and increase customer acquisition.
New board members: Marc Tarpenning, co-founder of Tesla, and Michael Chanin, founder of Cherry Street Energy, have joined Wattch’s board of directors as part of this investment.
KEY QUOTE:
“This investment represents a strong vote of confidence in our vision and technology. We are at an inflection point where the energy industry is experiencing increasing penetration of intermittent and distributed assets. This complexity demands unified digital control solutions that are both simple and repeatable enough to be deployed at scale. Wattch is working to radically reduce deployment time and cost with the first hybrid SCADA platform purpose-built for DERs.”
Alex Nussey, CEO and co-founder of Wattch
