Solar tech specialist lands six-figure investment to create 'sustainable cities'
A company on a mission to make global cities more sustainable has secured six-figure funding to expand operations.
PowerMarket, which specialises in deep-learning mapping and monitoring technology for solar power, has secured investment from QVentures to grow its business.
Co-founded by Abhinav Jain and Phil Worthington, PowerMarket uses its self-developed technology to identify ideal solar sites and forecast generation for grid management, working with companies and councils across the country.
CEO Abhinav has worked in the solar energy sector for over 10 years and previously ran a commercial solar panel installation consultancy in India.
Abhinav commented: “It is an exciting time for us to become part of QVentures’ portfolio. We see them not only as an investor, but also a strategic partner; with significant operational expertise and industry knowledge.
“Having already been backed by some of the world’s leading scientific and venture capital funds, we are excited to be able to further supplement our support network and accelerate our growth.”
Brian Hatton, partner at QVentures, added: “Having seen Abhi and Phil develop the PowerMarket software to fit the energy mapping needs of both grid operators and councils since first engaging with them in November 2019, we’re very excited for the future of PowerMarket and how it can become a staple tool in the smarter and more sustainable cities of the future.”
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