Tyba raises $13.9M Series A to improve the profitability of energy storage projects

Round led by Energize Capital underscores critical need for software to operate profitable energy projects at scale and enable the clean energy transition

SAN FRANCISCO, Feb. 6, 2025 /PRNewswire/ -- Tyba, a leading energy storage optimization platform, today announced $13.9 million in Series A funding led by Energize Capital. The round includes new investment from Pear VC, Mobilize Climate Capital, and Borusan Ventures and follow-on investment from Powerhouse, Wireframe, Virta, and Lorimer. This brings Tyba's total funding to $18.15 million.

This capital will help Tyba scale its AI-enabled energy forecasting, trading and optimization solution, which helps energy producers maximize revenue, support grid reliability, and strategically expand their portfolios as they transition to clean energy. 

The U.S. power grid is transforming, driven by a shift to clean energy and rising electricity demand. Battery storage, in particular, is essential for maximizing the efficiency and profitability of renewable energy investments, ensuring power is available whenever it's needed and at prices that make these investments worthwhile. In the last three years, storage capacity has grown 6x, to an estimated 30GW, indicating the rapid increase in energy storage needs.

Despite this rapid growth, managing storage assets is inherently complex given rapidly evolving power markets and the range of services batteries can provide. Operators need advanced forecasting and optimization tools, like Tyba, to ensure they can continue to support grid needs while remaining profitable.

"Batteries are essential to develop more clean energy and power our modern economy. For the companies building and operating battery storage facilities, figuring out how to maximize the value of their assets and maintain a competitive edge remains a constant challenge," said Michael Baker, CEO & Co-founder of Tyba. "Tyba is the autopilot system for batteries. Our platform forecasts opportunities, executes automated dispatch and bidding strategies, and provides the visibility and control needed for traders and asset managers to manage their facilities profitably and at scale. We make the nitty gritty of battery operations easy so our customers can focus on meeting our country's energy needs."

Tyba works with many of the world's leading energy companies, such as TotalEnergies, and supports the operations of over 1GWh of storage assets in Texas and California. In the past year, Tyba has tripled its customer base, launched its Asset Operations product, and is delivering revenue outcomes in the top 5% of assets. Since Tyba's founding, its Project Simulation product has been used to model over 100GW of projects under development and secure over $1 billion in funding.

"TotalEnergies is rapidly growing our generation portfolio, and Tyba's platform has been key to maximizing our asset's performance," said Michael Heitmann, Head of US Short Term Power for TotalEnergies. "Their solution empowers our team to focus on high-leverage, strategic decisions while their platform handles the execution of day-to-day operations, making them a valued and reliable partner."

Tyba's platform is where automation meets control. The Asset Operations product formulates optimal bidding strategies and automates dispatch, while empowering operators to make quick, strategic adjustments with the click of a button. This ensures profitability with less oversight, freeing teams to focus on developing the next wave of energy storage systems, which can be designed using Tyba's Project Simulation product.

"Large-scale energy storage is proving to be essential to the energy transition, especially as we respond to surging global energy demand and an increasingly complex power grid," said Tyler Lancaster, partner at Energize Capital and a member of Tyba's board of directors. "However, operational challenges continue to be one of the most significant barriers to scale for battery assets, in part due to the active, hands-on management these assets require. Tyba's solution tackles this challenge head-on, leveraging AI to enhance the profitability of battery storage by facilitating development decision-making and optimizing dispatch strategies. We are excited to partner with the Tyba team and support the company in this next phase of growth."

This funding will help Tyba expand its forecasting and optimization capabilities into new markets, and across asset classes. To continue broadening its offerings, the company is hiring across its engineering, modeling, and commercial functions.

About Tyba
Tyba helps energy companies maximize the profitability of energy projects with a unified simulation and operations platform. Developers, owners, and operators use Tyba as their mission control center - to inform and automate energy storage operations, while maintaining the ability to make strategy adjustments with the click of a button. This approach helps their partners - including TotalEnergies, White Pine Renewables, and Linea Energy - maximize project revenue and sustainably scale their portfolios. We believe that profitable renewable energy investments are essential to ensure the clean energy transition. With Tyba, profit maximization and grid decarbonization go hand-in-hand.

About Energize Capital
Energize Capital is a leading investor in climate solutions. Founded in 2016 and based in Chicago, Energize seeks to scale sustainable innovation by partnering with the builders and operators shaping the future. To date, Energize has funded 30 companies and deployed more than $750 million through its venture capital and growth equity strategies. Anchored by founding partner Invenergy, the firm is backed by strategic, institutional, and impact LPs including CDPQ, Credit Suisse, GE Vernova, Xcel Energy, Caterpillar, HASI and more. For more information on Energize, please visit www.energizecap.com.

SOURCE Tyba