Australian-born, US-based OpenSolar has banked US$20 million (A$30m) in a fresh raise as it looks to expand its AI implementation in the renawables design and sales platform.
The raise was backed by existing investors Titanium Ventures – the former Telstra VC fund – and London- and Copenhagen-based 2150 Sustainability Fund, as well as Google, and others.
OpenSolar previously raised a US$15 million (A$22m) Series B in early 2023 and the total funding raised now tops US$45 million (A$68m).
The free software platform is now used by more than 25,000 solar installer businesses in over 160 countries. It connects them to hardware, finance and services, which generate revenue for the climate tech startup.
OpenSolar 3.0, which uses artificial intelligence (AI) to automate an installer’s workflow with improved efficiency was recently released. The new funds will be used to improve the AI and expand global coverage.
The startup, founded in Sydney in 2017 by industry veterans Adam Pryor and Andrew “Birchy” Birch, uses Google’s Solar API data for installers to design accurate solar energy solutions for homes and businesses. It also has a range of tools including sales proposals, project management and payments systems, finance solutions, hardware ordering and inventory management.
Birch, the CEO, said the next generation of AI tools, will take solar growth to the next level, reducing the cost of delivery to help make 50% of energy generataed globally by 2035.
“The ability for any contractor to access world class software and imagery for free, is supporting the rapid transition to low-cost clean energy,” he said.
“OpenSolar technology has facilitated 6,000,000 solar system designs resulting in US$10 billion worth of solar sales, since inception.”
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