US-based energy management software provider Growing Energy Labs (Geli) has raised $8.4m, according to a securities filing yesterday, from investors including oil and gas company Shell.
The involvement of Shell, which invested through its corporate venturing arm, Shell Technology Ventures (STV), was revealed by STV managing director Geert van de Wouw on Tuesday. Geli has not disclosed any other investors in the round.
Founded in 2010, Geli has built a software platform that can design, connect, monitor and manage energy storage and microgrid systems.
The company has worked on projects with partners including energy companies SunEdison, NRG and NextEra Energy Resources, and automotive manufacturer BMW, and is looking to deploy a packaged energy storage system for commercial and industrial customers.
Geli had previously raised $600,000 in debt financing in 2013 and $960,000 in equity in August 2014, according to regulatory filings.