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PPA platform Zeigo raises £800,000 in seed funding round

Image: Getty.

Image: Getty.

Energy tech platform Zeigo has raised £800,000 in its seed funding round, with the capital to help it continue to scale.

The platform – which describes itself as a “one-stop-shop” for all the renewable energy needs of a corporate buyer – connects corporate energy buyers with renewable energy generators and suppliers.

It includes a PPA marketplace, digital energy portfolio manager, automated tender process, access to forward curves including comprehensive data reports and a suite of bespoke tools including an online legal resource that will generate an automatically populated Memorandum of Understanding.

Zeigo has now closed a £800,000 seed funding round led by Naruhisa Nakagawa, founder of Caygan Capital. Other investors included Green Angel Syndicate, ClearlySo, the Syndicate Room and Earlymarket.

The new capital is to be used to continue to scale strategically, Zeigo said, as well as further developing the platform, which integrates machine learning algorithms and deals exclusively with energy that can be traced to the source.

The company praised its ability to provide access, transparency and data insights, allowing customers to “promptly come to grips with the market and build a business case”.

It also lauded its ability to give corporates visibility on local clean energy markets and help them to connect with generators without the need to be ‘on the ground’, pointing to how work has shifted to rely on the digital space due to COVID-19.

Zeigo’s founder and CEO, Juan Pablo Cerda, said: “As a young and disruptive startup, we are thrilled to have garnered support from a strong network of energy and technology investors who recognize Zeigo’s early achievements and our future business strategy.”

The company has also seen Peter Gutman, an individual investor and adviser to Blue Bear Capital, become a shareholder, joining Paul Massara, ex-CEO of npower, who recently joined Zeigo’s Board.

Massara said the commitment shown by investors “underlines the strength of Zeigo’s proposition”, adding that it is “essential that the market is open to many corporates and developers and that the associated risk management tools are open to all”.

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