Announces $2.5 Million Equity Investment from Table Rock Infrastructure Partners, Massachusetts Clean Energy Center and Additional Private Investors
For Immediate Release
October 21, 2020
SOMERVILLE, Massachusetts – Heila Technologies, Inc. (Heila) announced today that it has raised $2.5 million in seed funding for its Heila EDGE® platform, an end-to-end solution to integrate, operate and optimize groups of distributed energy resources (DER). Table Rock Infrastructure Partners, an equity firm focused on helping municipalities with critical infrastructure projects, is the lead investor. The Massachusetts Clean Energy Center (MassCEC), a state economic development agency dedicated to accelerating the growth of the Commonwealth’s clean energy sector, together with individuals, are supporting investors. The funding round will remain open for a short period of time for additional strategic investors.
Recent reports estimate that the global distributed energy industry is expected to reach $650 billion by 2028. The growth comes as users recognize that the grid will need to be more resilient to climate and cyber threats and be able to integrate clean energy and storage, all while providing reliable and cost-competitive power. This $2.5 million investment will allow Heila to become a key player in the distributed energy space by building on its existing modular controls and optimization product and developing partnerships with strategic equipment vendors, project developers and utilities.