Booming electricity demand. Record-breaking supply of low-cost, clean power at unprecedented scale. These are the fundamentals of the global energy economy and the backdrop to which Raptor Maps today announces its oversubscribed Series C financing round. The $35 million growth investment was led by Maverix Private Equity ("Maverix"), with significant participation from existing investors MKB, Blue Bear Capital, Congruent Ventures, Buoyant Ventures, and Y Combinator.
The investment underscores the critical need for the industry to address years of solar asset underperformance and highlights the increasing impact of advanced analytics and digital solutions in the solar market. Since its inception, Raptor Maps has developed software to help solar energy scale and has digitized the leading solar portfolios in the North American and global markets. With the recent introduction of Raptor Solar Sentry, an industry-first software product that orchestrates solar operations and maintenance work by people and robotics, the company has proven the path for owners to realize double digit gains on solar financial returns.
"Our mission is to revolutionize solar asset management through cutting-edge technology," said Nikhil Vadhavkar, Co-Founder and CEO of Raptor Maps. "Many leaders in solar have heard of Raptor Maps, and supercharging our product with Raptor Solar Sentry has been a leap forward for customers. It provides a fundamentally new approach for solar asset owners to manage OpEx and realize returns that were underwritten in the first place but have slipped out of reach for far too many portfolios. With the support of this elite investment group, we are capitalized to more fully achieve our work of making solar energy the smartest and most competitive electricity source in the economy."
"We're excited to lead this investment in Raptor Maps, which aligns with our vision of fostering smart cities and sustainable energy solutions," said Mohit Talwar, Partner at Maverix. "The platform not only enhances the efficiency of solar farm operations but also plays a critical role in advancing intelligent urban infrastructure. Our investment in Raptor Maps underscores our commitment to empowering asset owners and operators to unlock optimal solar performance, while championing disruptive technologies that drive a more sustainable and connected future."
The Series C financing will accelerate Raptor Maps' product development, including enhancements in solar automation, work management, and machine-learning insights. Additionally, the company plans to expand its team with further investments in software engineering and data science.
