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A Melbourne-based software startup that makes it easier to assess the feasibility of renewable energy projects has raised $2 million in a seed round, with several climate tech backers investing in Orkestra's technology that also aids critical decision making throughout the lifecycle of an asset.
Having participated in the last two rounds, Tidal Ventures led the latest raise with support as well from Rampersand, Impact Ventures and Luxem, in addition to climate tech specialists Phil Blythe, Danin Kahn, Oliver Hartley and Andrew Rogers.
Co-founded in 2020 by James Allston, Chris Cooper and Michael Jurasovic, all formerly of New Energy Ventures, the company has witnessed 225 per cent revenue growth since January as its software platform's popularity continues to soar across a diverse customer base from small solar enterprises to the largest energy companies in Australia, New Zealand, and Japan.
Tidal Ventures notes Orkestra has become an integral tool for nearly every Tier 1 and Tier 2 energy company and commercial and industrial-focused solar installer in Australia.
"We’ve supported Orkestra since pre-seed and firmly believe that their technology and team will continue to have an outsized impact on the clean energy sector," says Tidal Ventures general partner Wendell Keuneman.
"We’re excited to continue our partnership with Chris, James, and Michael, working together to expand their AI-powered, new energy feasibility modelling technology to unlock the much needed roll-out and transition to renewable energy both in Australia and in the near future, globally."
Climate tech expert Phil Blythe has been advising the Orkestra team for close to two years, and claims it is carving out a new category of high-performance tools that make developing commercial-scale renewable energy
projects more accessible for energy providers and solar installers.
He says the technology also helps identify developing commercial-scale renewable energy projects more accessible for energy providers and solar installers.
"The team has a relentless focus on enabling new energy technology and services providers to work smarter and faster and are now expanding their operations overseas," Blythe explains.
"This ultimately means lower project costs for businesses and the dramatic acceleration renewable energy deployment worldwide required to meet global carbon goals."
To continue innovating for their current and prospective customers, the team has earmarked the funding to fuel their global expansion initiatives, the development of innovative product features, and the execution of strategic growth plans.
"We’re stoked that Orkestra has become Australia’s leading feasibility and sales software provider for commercial and industrial new energy projects," says Orkestra's co-founder and Hobart-based co-CEO, James Allston.
"With the successful completion of our seed round, we’re ready to expand into global markets and unveil our exciting new product, currently in stealth mode.
"As we progress towards our Series A funding, our primary emphasis will be on optimising our software’s capabilities to streamline and expedite our customers’ processes."
Eddie Springer, founder of Springer Solar, says it has allowed for quick and excellent analysis and sales proposals for customers.
"Coupled with the user-friendly platform, we have been able to upskill our entire team capability in providing in-depth feasibility analyses, even delving into more complex projects, including virtual power plants," Springer says.
"Our sales team and business development managers are now well-equipped to engage in highly detailed assessments."
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