Energy storage optimisation platform Tyba has raised $13.9 million in Series A funding led by Energize Capital.
The round includes new investment from Pear VC, Mobilize Climate Capital, and Borusan Ventures and follow-on investment from Powerhouse, Wireframe, Virta, and Lorimer. This brings Tyba’s total funding to $18.15 million.
This capital will “help Tyba scale its AI-enabled energy forecasting, trading and optimisation solution, which helps energy producers maximise revenue, support grid reliability, and strategically expand their portfolios as they transition to clean energy,” a company statement said.
Michael Baker, CEO & co-founder of Tyba, commented: “Batteries are essential to develop more clean energy and power our modern economy. For the companies building and operating battery storage facilities, figuring out how to maximise the value of their assets and maintain a competitive edge remains a constant challenge. Tyba is the autopilot system for batteries. Our platform forecasts opportunities, executes automated dispatch and bidding strategies, and provides the visibility and control needed for traders and asset managers to manage their facilities profitably and at scale. We make the nitty gritty of battery operations easy so our customers can focus on meeting our country’s energy needs.”
Tyba works with energy companies, such as TotalEnergies, and supports the operations of more than 1GWh of storage assets in Texas and California.
“TotalEnergies is rapidly growing our generation portfolio, and Tyba’s platform has been key to maximising our asset’s performance,” said Michael Heitmann, head of US short term power for TotalEnergies. “Their solution empowers our team to focus on high-leverage, strategic decisions while their platform handles the execution of day-to-day operations, making them a valued and reliable partner.”
Tyler Lancaster, partner at Energize Capital and a member of Tyba’s board of directors, added: “Large-scale energy storage is proving to be essential to the energy transition, especially as we respond to surging global energy demand and an increasingly complex power grid. However, operational challenges continue to be one of the most significant barriers to scale for battery assets, in part due to the active, hands-on management these assets require. Tyba’s solution tackles this challenge head-on, leveraging AI to enhance the profitability of battery storage by facilitating development decision-making and optimising dispatch strategies. We are excited to partner with the Tyba team and support the company in this next phase of growth.”
