Modo Energy is a technology company.
Modo Energy is a market intelligence and data platform focused on power markets and energy transition assets, providing benchmarks, forecasts, and analysis.
Modo Energy has raised $15.0M across 1 funding round.
Modo Energy has raised $15.0M in total across 1 funding round.
Modo Energy is a SaaS platform delivering market intelligence, data analytics, revenue benchmarking, price forecasts, and real-time data for battery energy storage systems (BESS) and renewable energy assets.[1][2][5][7] It serves asset owners, operators, investors, contractors, consultants, and technology providers by solving revenue uncertainty in volatile energy markets, enabling better financing, construction, operation, and optimization decisions.[1][4][5] Launched in the UK, it now covers markets like Australia's NEM, ERCOT in the US, and Europe, with owners/operators of ~90% of Britain's grid-scale batteries relying on it; the company has raised $15M in Series A (2023) and $50M in Series B (2025) to fuel global expansion and AI enhancements.[2][3][4]
Modo Energy was founded in 2019 (with some sources noting 2020) in Birmingham, UK, by CEO Quentin Scrimshire and COO/Director Tim Overton.[1][2][4][6] Scrimshire, previously Head of Energy Storage at Kiwi Power and involved in BESS projects at Centrica, paired with Overton, who spent six years at energy engineering consultancy Fichtner, to address data gaps in the burgeoning BESS sector.[4] The idea emerged amid the global renewable shift, starting as a small team providing UK-focused analytics before gaining early traction—discovered via data-driven sourcing by MMC Ventures, which led a $15M Series A in 2023 alongside Triple Point Ventures, Fred Olsen Limited, and Catalyst Capital.[2][4] Pivotal moments include US expansion funding in 2024 and rapid adoption, positioning it as the UK's trusted BESS authority.[2][4]
Modo Energy rides the electrification and renewable energy wave, where flexible grids are essential for balancing intermittent solar/wind with demand spikes—projected to drive the global battery market to $330B by 2030.[2][4] Timing aligns with accelerating BESS deployment for grid stability, backups, and decarbonization, amid market forces like policy support for clean energy and rising data needs for financing/operations.[1][2][3] It influences the ecosystem by democratizing energy data—previously trader-centric—empowering diverse stakeholders, fostering transparency, and enabling AI-driven tools to index opportunities in real-time, thus accelerating the clean energy transition globally.[3][5]
Modo Energy is poised to become the "Bloomberg of energy," expanding its platform with AI for predictive valuations, entering more European/North American markets, and targeting adjacent storage like vehicle-to-grid and utility-scale home batteries.[2][3] Trends like AI integration, electrification financing, and grid modernization will propel it, evolving its influence from UK BESS leader to global electrification OS—building on owned data stacks and investor trust to transform asset management at scale.[3] This positions Modo as a cornerstone for smarter, faster decisions in the renewable surge that began its journey.
Modo Energy has raised $15.0M in total across 1 funding round.
Modo Energy's investors include All Iron Ventures, MMC Ventures.
Modo Energy has raised $15.0M across 1 funding round. Most recently, it raised $15.0M Series A in November 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2023 | $15.0M Series A | All Iron Ventures, MMC Ventures |