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About Piclo
Industries
Energy
Company Size
51-200
Company Stage
Series B
Total Funding
$24.2M
Headquarters
London, United Kingdom
Founded
2013
Overview
Piclo focuses on making energy networks more sustainable by providing software solutions that improve their intelligence and flexibility. The company offers two main platforms: Piclo Max, which allows sellers of flexible energy to access various electricity markets through a single interface, and Piclo Flex, a marketplace where system operators can buy flexible electricity during times of high demand or low supply. Piclo has registered over 300,000 flexible assets, amounting to 22 GW of capacity, and has facilitated contracts worth £74 million for flexibility services. Unlike its competitors, Piclo has a strong presence in the UK and is expanding into other regions, including Europe, the USA, and Asia-Pacific. The company's goal is to support the decarbonisation of the energy grid by enhancing the efficiency and sustainability of energy networks.
Simplify's Take
What believers are saying
- Piclo secured funding from EDP Ventures for US and Australia expansion.
- Partnerships with National Grid and United Illuminating enhance market access.
- Piclo's 300,000 assets and 22 GW capacity demonstrate strong market traction.
What critics are saying
- Increased competition may challenge Piclo's market share in energy flexibility.
- Regulatory changes in the US could impose new compliance costs.
- Reliance on venture capital funding may lead to financial instability.
What makes Piclo unique
- Piclo offers a unique marketplace for electricity grid flexibility and sustainability.
- Piclo Flex and Piclo Max platforms streamline access to energy flexibility services.
- Piclo's global presence spans the UK, USA, Europe, and Asia-Pacific regions.
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Funding
Total Funding
$24.2M
Below
Industry Average
Funded Over
4 Rounds
Industry standards
Benefits
Paid Vacation
Flexible Work Hours
Remote Work Options
Growth & Insights and Company News
6 month growth
↓ -6%1 year growth
↓ -3%2 year growth
↓ -1%UK software solutions provider Piclo has secured investment from EDP Renewables' venture capital arm, EDP Ventures, to expand into the US and Australia. Piclo's platform, which facilitates trading of electricity capacity, has over 300,000 active assets and 22GW flexible capacity. The funding round was co-led by EDP Ventures, Clean Growth Fund, and Future Energy Ventures, with a larger round expected later this year. Piclo has awarded contracts worth £74 million and acquired 2.6GW of flexible capacity.
Piclo raises new funding from EDP for energy asset trading.
Victorian distribution network service providers CitiPower and Powercor have partnered with United Kingdom-based software provider Piclo which is to deliver a cloud-based digital marketplace platform designed to improve grid flexibility.
Piclo, a London-based company, is expanding its operations into Connecticut to establish a local energy grid flexibility market, which will be the first of its kind in New England.
Piclo and united illuminating to develop first der-enabled grid flexibility market in connecticut.
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About Piclo
Industries
Energy
Company Size
51-200
Company Stage
Series B
Total Funding
$24.2M
Headquarters
London, United Kingdom
Founded
2013
Piclo is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today