Raptor Maps closes US$22m Series B, funds used for hiring and product development

Facebook
Twitter
LinkedIn
Reddit
Email
Raptor said its maps technology can improve PV plant performance and streamline operations. Image: Raptor Maps

Solar software company Raptor Maps has closed a US$22 million Series B raise that will be used to further develop its Raptor Solar software platform, designed to enable utility-scale and commercial and industrial (C&I) solar companies to make better use of their data.

The funding will be used to accelerate Raptor Map’s hiring plans alongside significant investment in product, software and data science, the company said. Moreover, it will rapidly advance its product roadmap with more functionality related to workflow automation, work orders, investor reporting and machine learning.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The Massachusetts-based company said Raptor Solar was a software as a service (SaaS) platform that covers the entire lifecycle of a project, from financing through to operations.

The software “lets utility-scale and C&I solar companies standardise and analyse data, collaborate, optimise PV assets, reduce risk and ultimately lift financial return,” Raptor said.

The analysis is powered by machine learning and a data model created from over 50GW of solar power across 40 countries and Raptor has collaborated with Enel Green Power to integrate artificial intelligence and drone technology into the platform.

The software is used by the likes of Tesla, SOLV Energy, Rosendin Electric, Cypress Creek Renewables and McCarthy, Raptor said.

It serves as an “auditable system of record featuring state-of-the-art digital twins of solar assets” and users can scan in module serial numbers to streamline warranty claims and verify supply chains, Raptor said.

Moreover, subscribers can benefit from inspection analytics, productivity tools and ability to quantify financial loss and even benchmark portfolios against Raptor Maps’ global database, the company said, adding that it was designed to solve “major growing pains” across solar finance, development and asset management.

The round was led by Canadian private investment firm MacKinnon, Bennett & Co. (MKB), which specialises climate tech. Other investors include the Microsoft Climate Innovation Fund, Blue Bear Capital, DNV, Buoyant Ventures, Congruent Ventures, Data Point Capital and ENGIE New Ventures.

“We’re very excited about our investment in the most sophisticated solar analytics and insights platform on the market,” says Chanel Damphousse, partner at MKB. “Raptor Maps has some of the most intelligent and skilled experts in the solar industry, and their product roadmap represents a bold vision for how data married with productivity tools unlocks value across the lifecycle of solar assets.”

“To meet the world’s urgent climate goals, the energy industry needs tools to become nimbler and deploy renewable energy quickly,” explains Mark Kroese, general manager of sustainability solutions at Microsoft. “Raptor Maps is digitising solar supply chains, deployment and operations, which will help accelerate the global transition to cleaner energy solutions.”

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

Read Next

July 19, 2024
Investment fund Quinbrook Infrastructure Partners and its subsidiary Primergy Solar have reached commercial operations at their 690MWac/966MWdc Gemini solar-plus-storage project in Nevada.
July 19, 2024
The Energy Storage for Resilient Homes Act would allow residents of the two states to use funding from the Federal Emergency Management Agency (FEMA) to purchase residential BESS.
July 19, 2024
SunPower said the decision was not made "lightly" and will consider options to support its mutual customers and collective business pipeline.
July 19, 2024
The US Department of Energy (DOE) has issued a loan of up to US$861.3 million to support 200MW of solar PV and 285MW/1,140MWh of battery energy storage system (BESS) projects in Puerto Rico.
Premium
July 19, 2024
The corporate world is taking an increased interest in community solar, which can take multiple forms, from tax equity to offtake.
July 18, 2024
US solar manufacturer First Solar has opened its new research and development (R&D) centre in Ohio after almost two years of construction.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA