Seed Round Secured: The Next Phase on Heila’s Journey
We are pleased to announce that Heila Technologies has raised a $2.5M series seed investment in a round led by Table Rock Infrastructure Partners, and with participation from MassCEC and additional private investors. We are honored to have their support and will count on expertise as they have all shown a deep commitment to modernizing the grid and accelerating the widespread adoption of sustainable technologies.
Five years ago, we began an effort to change the way distributed energy resources (DERs) are deployed and used. Traditional top-down and centralized approaches to manage these assets are cumbersome, rigid, and expensive, and fail to provide the flexibility for their mass adoption. Seeking to simplify things, we developed a ground-up approach in which intelligence and decision making are placed right by the DERs themselves. This method enables DERs to act as “building blocks” that interact with each other and form larger energy systems over time – In a very similar way to how communities evolve.
Our first customer was the Stone Edge Farm microgrid, located in a vineyard deep in California’s wine country. We were tasked with controlling, coordinating, and optimizing a complex system of more than twenty diverse DERs (including solar arrays, batteries, turbines, fuel cells, large loads and more)… quite a challenge! Our ground-up approach proved to be successful in resolving the intricacies of each DER and flexible enough to manage systems of any shape and form.
These innovations resulted in the Heila EDGE® platform, which combines advances in edge-computing, control, optimization, and machine learning with a deep understanding of power and energy to seamlessly integrate, operate, and optimize groups of DERs. This was only possible thanks to the incredible work of the diverse team of ideators and doers that make up the Heila team.
Having deployed several landmark projects across the country, we now look towards the future. We are leveraging the seed round funding to target highly scalable markets with our ready to use, state-of-the-art, end-to-end solution. We are wasting no time in this effort, expanding the size of the Heila team threefold in just six months and doubling down on our commitment to provide our customers with an exceptional service.
Today – more than ever – we are convinced that intelligent fleets of distributed energy resources can play a critical role in reshaping how we as a society interact with energy. The future is bright and exciting, and we look forward to working with our investors and industry partners towards a cleaner, more resilient, and more equitable electric grid.