US Firm Kevala Raises $21 M in Series A Funding Round

US energy data provider Kevala Inc. has raised $21 million in Series A funding round led by C5 Impact Partners LP (C5 Capital’s fund focused on data-driven technologies transforming critical infrastructure) and Thin Line Capital.

Additional investors in the Series A round include senior energy sector executives Tom Werner, current Chairman and former CEO of Sunpower Corp., and Mark Ferron, former California Public Utilities Commissioner.

Kevala is a startup that collects and analyses energy grid infrastructure data for utility companies, renewable energy providers, EV charging companies, regulators and other energy industry stakeholders.

“Kevala has first mover advantage in providing comprehensive big data analytics on grid infrastructure,” said Zulfe Ali, Managing Partner at C5 Capital. “We’re incredibly excited to partner with the company as it expands into new markets such as cybersecurity and national security, as well as new geographies outside of the United States. We believe Kevala’s platform provides critical solutions to the many stakeholders across the global energy landscape.”

Founded in 2014, Kevala aims to assist stakeholders in making smarter decisions involving sustainability, resiliency and cybersecurity. The company claims to have developed the industry’s most comprehensive and interactive cloud-based grid analytics toolbox – the Kevala Assessor Platform – powered by public utility data as well as proprietary data.

Leveraging artificial intelligence on this sweeping dataset, the platform is uniquely positioned to help grid operators predict and plan for extreme weather events, renewable energy adoption, and increasing demand from vehicle, building and industry electrification, says Kevala.

“With this significant support and partnership from C5 and others, we can dramatically increase the deployment of our grid analytics tools to help secure America’s infrastructure and radically decarbonize our economy at an ever–accelerating pace,” said Aram Shumavon, Kevala Founder and CEO.

“Kevala’s solutions provide realtime, actionable data and clear roadmaps for utilities, developers, and regulators, delivering immediate value across the entire market. Our company intends to utilize this substantial new growth capital to expand operations across the United States, commercialize new grid analytics products and begin launching our offerings around the globe,” added Shumavon.

The Assessor platform allows clients to process grid data, map carbon intensity of different energy sources, identify new locations for solar farms and electric vehicle charging stations, assess vulnerabilities in critical public infrastructure, pinpoint opportunities to sustainably improve clean energy access in underserved communities, and more, all with a high degree of granularity, states the company.