Congruent Ventures is among the backers of a $33m series B round for Omnidian, having already taken part in a series A round two years ago.
Omnidian, a US-based solar energy asset servicing company, secured $33m in a series B round backed by Congruent Ventures, the sustainability-focused fund backed by University of California, yesterday.
Activate Capital led the round, which additionally attracted insurer Liberty Mutual Insurance and Wind Ventures, the corporate venture capital unit of energy firm Copec.
National Grid Partners (NGP), Evergy Ventures and Avista Development, respective investment units of utilities National Grid, Evergy and Avista, also joined the round, as did energy supplier Centrica
City Light Capital, IA Capital, Energy Foundry and Blue Bear Capital completed the investor line-up.
Founded in 2015, Omnidian markets a machine learning-powered monitoring platform for residential and commercial solar energy systems. The software provides features such as system diagnostics and maintenance alerts.
The money will allow Omnidian to hire more staff as it seeks to bolster its solar assets under management, expand internationally and explore the monitoring of other internet-of-things-equipped energy products.
Congruent Ventures took part in a $15m series A round in 2019 that was led by IA Capital and also backed by NGP, Evergy Ventures, Avista Development, Blue Bear Capital and City Light Capital.
NGP had already invested in Omnidian as part of a round of undisclosed size in late 2018, but it is unclear whether this marked its contribution to the series A round.
Omnidian had earlier raised $5.1m in a 2017 funding round led by Congruent Ventures and featuring City Light Capital, Blue Bear Capital, Energy Foundry, Ekistic Ventures and Avista Development.
