The Technology team advised Shifted Energy on its $4.3 million seed funding round, which will help the company expand its energy efficiency solutions and distribute smart energy products. The round was co-led by EPIC Ventures, Kapor Capital and Buoyant Ventures, along with participation from Startup Capital Ventures x SBI Fund and Hunt Development.
Shifted Energy was founded in 2016 as a spin-off from the energy efficiency and justice efforts of Kanu Hawaii, a 40,000-member non-profit organization focused on environmental sustainability and community empowerment in Hawaii. Shifted Energy supports utilities, property managers and owners of multi-family housing through the deployment of low-cost distributed energy resource control and monitoring systems, machine-learning data analytics and dispatch optimization software. The company’s software creates virtual power plants out of single and multifamily homes by connecting electrical appliances such as water heaters and EV chargers to a cloud-based platform, which then aggregates and optimizes the participants that it serves as distributed energy resources in a manner that benefits both grid utilities and utility customers.
The Goodwin team was led by Andrew Sparks, and Diana Cao (Corporate) with invaluable assistance from Maggie Wong (Opinion) and David Brekke.
For more details, please read the press release.