Clean Energy Infrastructure Software Startup Paces Raises $11 Million
Summary
Energy infrastructure software startup Paces announced today that it has raised $11 million in a Series A funding round, aimed accelerating the deployment of grid-connected clean energy infrastructure projects. According to the company, the AI-based software is designed to condense site selection and project due diligence assessments for clean energy infrastructure projects from “months to minutes.” The company’s tools gather data on environmental restrictions, moratoriums, prime farmland, soil types, permitting requirements and more, replacing a cumbersome manual process and accelerating and de-risking site selection. By expanding our capabilities to accelerate additional components of the due diligence process and serving new sectors like EV charging and data centers, we’re taking a significant step towards realizing this goal. This Series A funding will fuel our growth and impact, allowing us to enhance our platform and support the entire clean energy infrastructure ecosystem.” The round was led by Navitas Capital, with participation from Suffolk Technologies and MCJ Collective, and existing investors Resolute Ventures, Soma Capital, and Y Combinator. We are incredibly excited to support Paces as they expand their transformative approach to pre-construction for grid-connected projects.