Geli, a US-based energy storage management software provider that counts oil and gas producer Shell as an investor, has received $5.5m in funding, co-founder Ryan Wartena told Greentech Media.
Founded in 2010 and also known as Growing Energy Labs, Geli has built an end-to-end software platform that oversees the design, deployment and ongoing management of energy storage systems.
The company is targeting a final close of $8m for the round, according to Wartena, though he did not reveal any of the round’s participants.
The cash will support an increase of Geli’s original equipment manufacturing partners as it looks to expand from the US, Australia and New Zealand into more markets, beginning with Japan.
The latest funding comes after $14m in funding, according to Greentech Media, $7m of which came from Shell unit Shell Technology Ventures and an undisclosed clean energy-focused family investment office in April 2016.
Southern Cross Renewable Energy Venture Capital Fund, a joint venture between telecommunications group SoftBank’s China Venture Capital unit and the Australian Renewable Energy Agency, invested a further $3m three months later.