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Funding

Clean energy software startup Orkestra charges up on $1.1 million Seed raise

- November 9, 2022 2 MIN READ
The Orkestra team
Renewable energy software platform Orkestra has raised $1.1 million in a Seed round to support large power companies roll out new projects.

The raise was led by local seed stage VC Tidal Ventures with support from angel investors with links to the energy industry. The capital is will be used to expand Okestra’s team and roll out the product to the Australian market.

Melbourne-based Orkestra Energy was founded by former New Energy Ventures consultants Chris Cooper, James Allston, and Michael Jurasovic. The SaaS platform provides tools to help energy companies to plan, sell, and optimise the roll out of new energy deployments. Orkestra already counts Origin Energy and Energy Australia among its 30-plus customers.

Cooper, Orkestra’s CEO, said businesses are rethinking how they source energy, with the commercial and industrial segment turning decentralised energy sources such as solar, batteries, and fleet electrification. An estimated one-third of energy supply is expected to come from on-site solar and batteries by 2030 .

“The challenge however is that selecting the optimal mix of energy solutions is complex. For energy providers, there is a clear need for software solutions that helps improve both the economics and effectiveness of their rollouts,” he said.

“Our aim is to be the intelligence layer that underpins clean energy projects around the world. Teams that were previously using excel spreadsheets or outdated software are instantly seeing the value in Orkestra’s offering – So far, we’ve been blown away by the feedback from customers” 

Orkestra’s software solution is designed to reinvent how solar, battery, and e-mobility solutions are scoped and sold, enabling energy companies to quickly and accurately evaluate the best solution for their business customers. 

The platform combines an easy-to-use interface with advanced algorithms and analytics to slash the cost and time required to evaluate project feasibility, and optimise project outcomes from both a sustainability and economic perspective. 

Tidal Ventures general partner Wendell Keuneman said the transition to clean energy provides a growing opportunity for the software startup.

“We see an opportunity for Orkestra to be a major data player, providing the enabling technology that can move the market by producing fast, accurate modelling to unlock the deployment of new renewable energy projects and ensure they are predictable and profitable for clean energy providers and their customers,” he said.

“The clean energy transition represents a once-in-a-generation disruption to the energy market, and a unique opportunity to combine profit with purpose. We’re delighted to be backing Chris, James, Michael, and the Orkestra team on their mission to support the rollout of abundant, clean, and low-cost energy.”

 

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