What is Piclo?
Piclo operates a crucial marketplace that connects Flex Providers with System Operators, enabling the procurement of local flexibility services. In an era where energy systems are becoming cleaner, more distributed, and diversified due to the climate crisis, grid stability faces increasing challenges. Piclo's platform addresses this by allowing technologies such as renewables, batteries, and electric vehicles to offer local flexibility to distribution networks. This capability is vital for smoothing the transition to a decarbonised future, ultimately delivering more resilient and cost-effective grids.
How much funding has Piclo raised?
Piclo has raised a total of $10.1M across 1 funding round:
Series B
$10.1M
Series B (2023): $10.1M with participation from Japan Energy Fund, Future Energy Ventures, Green Angel Syndicate, and Clean Growth Fund
Key Investors in Piclo
Japan Energy Fund
Japan Energy Fund, backed by major Japanese corporations, invests in international companies with decarbonisation technologies, focusing on renewable energy and advanced energy start-ups in Europe and North America to build a sustainable society.
Future Energy Ventures
Future Energy Ventures is a venture capital firm that invests in digital, scalable start-ups transforming the energy ecosystem, particularly in Europe and the USA, to accelerate the energy transition.
Green Angel Syndicate
Green Angel Syndicate is the UK's leading angel syndicate dedicated to combating climate change through investments in innovative companies addressing climate challenges, offering both active and passive investment opportunities.
What's next for Piclo?
With its major enterprise-level funding, Piclo is strategically positioned to enhance its role in grid modernization and the clean energy transition. The company's focus on enabling distributed energy resources to provide essential grid services aligns with global decarbonisation efforts. Future growth is likely to involve expanding its marketplace reach, onboarding more Flex Providers and System Operators, and potentially developing new service offerings to address complex grid balancing needs. This investment underscores the increasing importance of flexibility markets in achieving sustainable and reliable energy infrastructure.
See full Piclo company page
