Renewable energy software company Euclid Power has raised US$20 million in Series A round led by Venrock to develop an AI-driven platform and services for renewables.
The financing raise comes amid rising AI-driven energy demand and new federal compliance rules that risk slowing renewable deployment. According to the firm, the raised capital will accelerate Euclid’s AI-driven workflows, broaden its product suite, and scale its services team to meet growing market demand.
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“With this round, we’re scaling to meet the urgency of the clean energy transition,” said Jacob Sandry, CEO of Euclid. “Our customers are navigating regulatory friction and market uncertainty every day to supply power that people desperately need. We help them move through that complexity faster, with the precision their projects demand.”
According to the company, the US faces a looming power crisis, with electricity demand projected to rise 25% by 2030 driven by AI data centers, manufacturing, and electrification. Utilities are scrambling to meet this strain on the grid. Renewables remain the fastest and most affordable solution, set to deliver 93% of new capacity this year despite regulatory hurdles.
Euclid’s AI software will centralise project data for renewable energy developers, using AI to tag documents, extract key details such as costs, deadlines and risks, and compile them into a single platform. With workflows informed by more than 1,000 projects, the software will help teams identify critical opportunities and risks to keep developments on track.
The funds were secured with participation from HSBC Asset Management and existing backers Spero Ventures, Toba Capital, Designer Fund, and Commonweal Ventures.
Founded in 2021 by Jacob Sandry, Ryan Guay, and Brian DeMaio, Euclid provides software that unites technical, commercial, and financial expertise to streamline renewable energy development. Already embedded in 1,000+ projects, Euclid has supported over 12GW of solar and storage capacity and US$10 billion in investments, helping clients cut transaction timelines by up to 60%.
