Australia-based smart energy monitoring software developer GreenSync has secured A$11.5m (8.7m) in a series B round co-led by Southern Cross Renewable Energy Fund, which is backed by telecom and internet group SoftBank.
The fund, which is managed by Southern Cross Venture Partners with the capital provided by Softbank’s China Venture Capital fund and the Australian Renewable Energy Agency (Arena), co-led the round with the Australian government-owned Clean Energy Finance Corporation (CEFC).
Each invested A$5m, with CEFC providing its share through the Clean Energy Innovation Fund. The remainder was supplied by an undisclosed private fund.
GreenSync produces smart software that facilitates the integration and effective management of renewable energy and battery storage in the electricity grid. It will use the funding to further its Australian presence and also take its technology to new markets.
The company has now raised A$13m altogether, having received A$555,000 in grant gerant funding from the Victoria state government as part of the A$20m New Energy Jobs Fund in August 2016.
– Image courtesy of GreenSync