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 energy 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, while supporting multiple Distribution System Operators. The company's goal is to decarbonise the energy grid and enhance the sustainability of energy networks.

Simplify's Take

What believers are saying

• Piclo's expansion into the US and Australia is supported by new funding.
• Partnerships with E-REDES and Plexigrid enhance Piclo's market access and technology.
• Piclo's platform supports over 300,000 assets, representing 22 GW of flexible capacity.

What critics are saying

• Increased competition could challenge Piclo's market share in energy flexibility.
• Rapid technological advancements may render Piclo's software less competitive.
• Regulatory changes in key markets could impact Piclo's operations and growth.

What makes Piclo unique

• Piclo offers a unified platform for buyers and sellers in energy markets.
• Piclo Flex enables system operators to procure flexible electricity during high demand.
• Piclo Max allows flex sellers to engage with all electricity markets from one interface.

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Funding

Total Funding

$24.9M

Below

Industry Average

Funded Over

4 Rounds

$10,960,000

Series B

Mar 2023

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Below Average

Industry standards

Ind Avg. $35M

$4M

$11M

$30M

$45M

$65M

$100M

View all funding stages