$17m · Growth/Late · Software · London, UK
London-based Modo Energy has secured a $17m growth funding package from CIBC Innovation Banking. CIBC said the financing brings the energy-data company’s total raised over the preceding six months to $52m and will fund product development, sales and marketing, team growth and expansion into new markets.
The company builds benchmarks, forecasts and market analysis for investors, developers, lenders and operators of battery storage and renewable-energy assets. Its platform covers 15 energy markets and is used by more than 200 companies across 30 countries, according to CIBC’s announcement. Modo also says its forecasts have supported the financing of more than $3.8bn of assets.
Turning market data into financeable decisions
Battery and renewable projects depend on forecasts of future revenues, but those estimates are difficult to compare when markets, methodologies and operating strategies differ. Modo’s commercial proposition is to make that analysis repeatable: regulated revenue benchmarks provide a reference point for historic performance, while nodal forecasts help customers assess prospective cash flows. The company says it is the only FCA-regulated provider of battery-energy-storage benchmarks.
That positioning matters because the product sits close to capital allocation. A forecast used in underwriting must be explainable to lenders and investment committees, not merely directionally useful. Independent methodologies and consistent market coverage can therefore become distribution advantages: once a benchmark or forecast is embedded in valuation, monitoring and reporting processes, switching providers creates work for several stakeholders rather than a single analyst.
Ko moves from answers to completed analysis
The new funding will accelerate Ko, Modo’s AI analyst. Modo’s product documentation says Ko can answer questions using the company’s proprietary data and published research. CIBC’s announcement sets a broader goal: having Ko run analysis and reporting from start to finish.
That expansion could turn Modo’s data subscription into a workflow product, but it raises the standard for reliability. Energy professionals need to see which market data, assumptions and methodologies support an output, particularly when it influences asset valuation or financing. The strongest commercial outcome would be faster analysis without weakening auditability: Ko handles the repetitive work while regulated benchmarks, forecast methodologies and expert research remain visible underneath.
Modo plans to keep hiring across a team of more than 75 analysts, data scientists and engineers. The growth package gives it capital to broaden market coverage while developing the AI layer, but execution depends on both moving together. More automation is valuable only if the underlying data remains credible as the company enters new power markets.
Sources checked:
CIBC Innovation Banking · Modo Energy · Modo Energy Help Center · Tech.eu Funding Explorer
