Energy Data and Analytics Provider Kevala Secures $21 Million in Series A Funding

The fund will be used to expand its operations across the United States and commercialize grid analytics products


Kevala, a U.S.-based energy data and analytics provider, said it secured $21 million in Series A funding.

C5 Impact Partners LP and Thin Line Capital led the funding round. Chairman of Sunpower Corporation Tom Werner and former California Public Utilities Commissioner Mark Ferron also participated in the funding round.

The company will utilize the fund to expand its operations across the United States, commercialize grid analytics products and start launching its offerings around the globe.

Kevala has developed an interactive cloud-based grid analytics toolbox, the Assessor platform, that helps grid operators predict and plan for extreme weather events, renewable energy adoption, and increasing demand from vehicles, buildings, and industry electrification.

The Assessor platform allows consumers to process grid data, map different energy sources’ carbon intensity, identify new locations for solar projects and electric vehicle charging stations. It also assesses vulnerabilities in critical public infrastructure and identifies opportunities to improve clean energy access in underserved communities.

Aram Shumanov, Founder and Chief Executive Officer of Kevala, said, “With this support and partnership from C5 and others, we can increase the deployment of our grid analytics tools to help secure the United States’ infrastructure and decarbonize our economy at an ever-accelerating pace.

“Kevala’s solutions provide real-time, actionable data and clear roadmaps for utilities, developers, and regulators, delivering immediate value across the entire market,” Shumanov added.

Tom Werner, Kevala adviser, and investor said the United States’ energy infrastructure is evolving rapidly with the proliferation of grid-connected solar, storage, and a range of other distributed energy resources. As the landscape grows more complex, Kevala’s tool will be critical for a range of companies across the power sector, managing resources on-site and off-site.

Kevala team combines specific expertise in advanced data analytics and artificial intelligence with unique industry experience across utilities, regulators, and power-systems engineering organizations. Senior leaders come from organizations including the California Public Utility Commission, ABB Network Management, Silver Spring Networks, Schneider Electric, the US Federal Energy Regulatory Commission, and many other public institutions and private companies.

According to Mercom’s 1H and Q2 2021 Solar Funding and M&A Report, in 1H 2021, venture capital (VC) funding in the solar sector was 680% higher, with $1.6 billion raised in 26 deals compared to the $210 million that went into 14 deals in the first half of 2020. In 1H 2021, three Balance of System (BoS) companies raised a total of $36 million.



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