Honolulu-based distributed energy resources platform, Shifted Energy, recently announced it closed a $4.3M seed funding round that will help the company expand energy efficiency programs and distribute smart energy products.
Shifted Energy's software creates low-cost virtual power plants out of single and multi-family homes by connecting electrical appliances such as water heaters and electric vehicle chargers to cloud-based platforms. The funding round — co-led by EPIC Ventures and Kapor Capital and investors Buoyant Ventures, Startup Capital Ventures x SBI Fund, and Hunt Development — will be used for talent acquisition and to expand coverage areas throughout the U.S., Canada and Australia, according to Shifted Energy.
Shifted Energy produces software to benefit both electricity users and utilities, as well as accelerate the integration of renewable energy. Co-founders Forest Frizzell and Olin Lagon have decades of experience working with technology innovation and community engagement, and founded the company in 2016 as a spin-off from the energy efficiency efforts of the nonprofit Kanu Hawaii, according to the announcement.
“Our platform was built as a way to engage with hard-to-reach communities who typically don’t have access to rooftop solar or EV charging by targeting renters and multi-family buildings,” said Frizzell, who's also the company's CEO, in a statement. “These technological solutions create inclusivity in the transition to a clean and healthy energy future.”
