US solar performance plans provider Omnidian bags USD 33m in Series B round

US solar protection plans provider Omnidian Inc on Wednesday said it has raised USD 33 million (EUR 28.1m) in a Series B funding round.

The company expects the new capital to allow it to expand into new market segments such as energy storage, electric vehicle (EV) charging, and heating, ventilation and air conditioning (HVAC), and to facilitate an international expansion.

Omnidian provides residential, commercial and industrial solar system performance plans and performance guarantees. It has also launched performance plans for energy storage for both residential and C&I systems. The company currently employs more than 100 professionals across 16 states and manages more than 1,700 MW for customers, with these numbers expected to grow.

The fundraising was led by Activate Capital, with additional participation from Liberty Mutual Insurance and WIND Ventures, the strategic venture capital arm of Chilean energy company Copec. Existing investors City Light Capital, IA Capital, Evergy Ventures, Avista Development Inc, Congruent Ventures, Centrica, National Grid Partners, Energy Foundry and Blue Bear Capital also took part.

“The world is embarking on a major energy transition and Omnidian’s platform is an example of the type of technology that is needed to help consumers and businesses alike understand and maximize the performance of their clean energy systems,” said Liberty Mutual Investments managing director of energy transition and infrastructure TJ Gaylord.

(USD 1 = EUR 0.852)

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