BOSTON, Aug. 17, 2021 /PRNewswire/ -- Gaiascope, a pioneer in wholesale electricity price forecasting, announced it has raised $2m in a Seed Prime fundraise. The round was led by VoLo Earth Ventures, an early-stage VC investing in the new energy economy through innovative products and technologies. Other investors in the round include Khosla Ventures and Y-Combinator (S19). This financing round helps the company towards its goal of accelerating the transition of our energy system through improved insight into market dynamics. As proof of forecasting accuracy, Gaiascope actively participates as a financial player in ERCOT and has generated over 30% returns so far in 2021. Long term, Gaiascope's forecasts are critically important to ensuring decarbonization of the grid by enabling profitable operations and buildout of low- or zero-carbon assets.
Kareem Dabbagh, Managing Partner at VoLo Earth Ventures, points out, "The complexity and lack of transparency into electricity markets presents a roadblock to decarbonized grid build-out and operation. Our investment in Gaiascope and their technology is a step toward overcoming this barrier; improved market understanding across timescales ensures more efficient grid operation, better utilization of carbon-free assets, storage, and demand response, and the novel ability to consider market risks for project development and finance." Joseph Goodman, PhD, Managing Partner at VoLo Earth Ventures, adds, "As a leader in forecasting, Gaiascope is at the forefront of grid prediction, and we are incredibly excited by the wide array of climate-positive applications for the technology they are creating."
Lauren Kuntz, PhD, co-founder and CEO of Gaiascope, notes "We are beyond excited to move forward with our collaboration with VoLo Earth and other investors who share in our mission of accelerating the transition to a carbon free grid." Jess Stiles, co-founder and COO of Gaiascope, adds "The team at VoLo Earth brings deep insight of grid dynamics and markets to the table, and will undoubtedly speed our progress and amplify our impact."
VoLo Earth is addressing our planet's climate crisis at its roots by providing first-in funding and hands-on leadership to early-stage climate tech companies. Volo Earth strives to grow, propagate, and capitalize on climate solutions with an intent to deliver superior investment returns and quantifiable carbon benefit.
Media Contact: [email protected]