Startup's software helps with project design, engineering, resiliency and financial modeling for distributed energy systems such as electric vehicle charging platforms.
Xendee Corp., a San Diego provider of planning and operational software for distributed energy systems, has raised $12 million in an initial round of venture capital funding.
“Distributed energy systems are essentially on-site power systems,” said Adib Naslé, chief executive and co-founder of Xendee. “So, you might be familiar with solar and batteries. But there are more than 25 technologies that we support for generating and storing energy and then deploying that on-site to deliver emissions reductions, resiliency and cost savings.”
Prior to this Series A funding round, Xendee raised $3 million in seed funding. It also has been awarded grants and projects from government and corporate clients, including the U.S. Department of Defense and the Federal Aviation Administration.“That is a big win for us. The DoD is not only a sophisticated customer, but it also has a global footprint,” said Nasle’.
“It is a big market, and we envision it growing unless something happens to the electrification of transportation,” said Nasle’. “But I think that ship has sailed. Now it’s about how do we enable that in a safe and reliable way.”
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