We’re excited to share that Tyba has raised a $13.9M Series A, led by Energize Capital, enabling us to double down on our mission to help companies operate more profitable energy storage projects at scale.
Tyba was founded on the belief that batteries have the potential to make the transition to renewable energy possible – if we can make them easy to operate well.
- Why are batteries the key to grid decarbonization?
They make all renewables more reliable (store energy until it is needed most) and profitable (discharge when the price makes sense – not just when the sun is shining or wind is blowing). - What makes batteries hard to operate?
They have limited capacity, often 2 or 4 hours of charge, that could be used in thousands of ways. For each day, an operator needs to puzzle together the optimal combination of times to discharge (while prices change every ~5 minutes), and products to discharge into (some markets have 6+ options). All while ensuring you have enough state of charge to deliver that discharge & product.
To configure a strategy that accounts for all options, and is able to update in near real-time, advanced software is required.
Where it started
Deep in an excel spreadsheet, trying to model the revenue potential of a storage project my company was evaluating, it was all too clear that the ‘build a passable in-house and hope for the best’ attempts happening across the industry were neither sustainable nor scalable for an asset class as integral to the grid as storage.
These solutions were slow and costly to build internally, difficult to manage, and often lacked the nuance required to capture the complexities of storage operations. Companies without the scale or resources were effectively excluded. This gap would slow down the energy transition, and risked making renewable assets cost-centers, and ultimately lead to disinvestment.
Building Tyba
Our goal from the outset was clear: create a solution that makes energy storage accessible and profitable for everyone in the industry, regardless of scale or resources. To accomplish this, we assembled a team that combined deep technical expertise with practical energy industry experience.
Tyler, our CTO, is uniquely expert at both modeling and building/scaling enterprise technology. This overlapping skillset is critical given battery optimization is both a mathematical problem and a computational challenge.
“Unlike traditional power assets, batteries give you the freedom to choose when to charge or discharge. But this optionality is only valuable if you can accurately forecast market conditions and account for battery behavior. The physical characteristics of batteries, from state-of-charge dynamics to degradation patterns are too complex for intuitive human decision-making. Add in the need to simultaneously optimize across multiple market products, from frequency regulation to energy arbitrage, and you have a problem that demands sophisticated modeling and algorithms to unlock the full value of these assets.”
– Tyler Nisonoff, co-founder and CTO
To complement this technical foundation, we also sought out Tom, an energy market expert who shared in the mission, and who I had seen build great relationships with energy companies and LSEs. His collaborative approach has been critical to ensure our solution helps customers achieve their goals today – and for years to come.
Thanks to our dedicated team, we were able to gain early momentum. I will be forever grateful to White Pine Renewables and Copia Power for taking an early bet on Tyba. They provided feedback that has helped us develop a solution that supports the full project lifecycle from project development to go-live preparations through live operations. They’ve also helped ensure our platform is easy to use, and complete with the customizations teams need to succeed.
Tyba today
Four years into this journey, we’re seeing the vision come to life. Today, Tyba supports the operations of over 1GWh of energy storage — a number we’re on track to double by this summer. Our platform has been used to simulate over 100GW of projects and has helped secure more than $1 billion in projected funding.
We’re thrilled to have Energize as a partner. They share our vision for a grid powered by renewable energy — one that’s not only better for the planet but also economically viable for the companies that power it. With their support, the continued support from our current investors, and other new partners such as Pear VC, Mobilize Climate Capital, and Borusan Ventures, we’re poised to expand our team and scale our platform into new markets and asset classes, bringing its benefits to more energy companies around the globe.
Let’s create a cleaner, more reliable energy future together.
– Michael Baker, Co-Founder & CEO
