3 SaaS Startups in the Renewable Energy Industry

January 24, 2023

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SaaS startups have become the darling of Venture Capital investors, especially in the Renewable Energy industry. Over the past decade, software has proverbially “eaten the world” and SaaS companies have scaled to become unicorn corporations in staggering amounts of time.

In this article, we are examining 3 VC funded SaaS startups in the Renewable Energy industry.

Camus Energy

A GMaaS (Grid Management Software as a Service) platform is being developed by Camus Energy to support the eventual DSO. Camus's platform equips industry leaders to safely and strategically manage a grid environment that is quickly evolving by giving grid operators and load serving organizations improved situational awareness, knowledge, and control. In order to take advantage of new opportunities on distribution grids, Camus' founders and collaborators are utilizing knowledge from various sectors, including the founders' innovative work creating Google's worldwide traffic management platform.

Company details:
Founders:
Astrid Atkinson
Founded:
2019
Based in:
San Francisco, California, United States
Website:
Camus Energy
Industries:
CleanTech, Cloud Computing, Data Integration, Electrical Distribution, Energy, Power Grid, Renewable Energy, SaaS, Software
Latest funding:
$16,000,000
Series A
20 July 2021
Total funding:
$19,000,000
Investors
Congruent Ventures, Wave Capital, Park West Asset Management

Clir Renewables

Clir is a program for reporting and optimizing renewable energy sources that combines AI with a cloud-based platform to improve the efficiency and profitability of renewable energy facilities.

Company details:
Founders:
Gareth Brown, Jake Gray
Founded:
2016
Based in:
Richmond, British Columbia, Canada
Industries:
Machine Learning, Renewable Energy, SaaS, Software
Latest funding:
$22,366,731
Series B
1 June 2021
Total funding:
$31,929,590
Investors
Creative Destruction Lab (CDL), Silicon Valley Bank, Business Development Bank of Canada, Sustainable Development Technology Canada, Active Impact Investments

Covetool

Covetool has created ground-breaking machine learning technology that enables customers to find more cost-effective and energy-efficient construction methods for their buildings. The program creates intelligent, precise models in a tenth of the time to assist customers in researching various building options and selecting the best one.

Company details:
Founders:
Daniel Chopson, Patrick Chopson, Sandeep Ahuja
Founded:
2017
Based in:
Atlanta, Georgia, United States
Website:
Covetool
Industries:
Energy, Enterprise Software, Machine Learning, Renewable Energy, SaaS, Software
Latest funding:
$30,000,000
Series B
17 December 2021
Total funding:
$36,750,000
Investors
FootPrint Coalition, Coatue, Third Sphere, Knoll Ventures, URBAN-X

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