Tyba Secures $13.9 Million to Boost Energy Storage Optimization

Energy storage software startup Tyba has raised $13.9 million in a Series A funding round, aimed at advancing its cutting-edge solutions designed to help energy providers maximize the profitability of their energy storage assets.

Addressing the Growing Need for Energy Storage

Energy storage plays a crucial role in the clean energy transition, compensating for the intermittent nature of renewable energy sources like wind and solar. The U.S. Energy Information Administration (EIA) reports that energy storage capacity has increased sixfold over the past three years, reflecting the sector's rapid growth.

Despite soaring demand, managing energy storage assets remains complex due to evolving power markets. Founded in 2020 and based in California, Tyba addresses this challenge with advanced AI and machine learning (ML) tools. Their offerings include Asset Operations, which automates management functions, optimizes bidding strategies, and allows real-time adjustments, and Project Simulation, a modeling tool for developing future projects. Tyba's client roster features industry leaders such as TotalEnergies, Copia Power, Linea Energy, and WhitePine Renewables.

Revolutionizing Battery Management

“Tyba is the autopilot system for batteries,” said Michael Baker, CEO and Co-founder of Tyba. “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.”

The new capital will be utilized to scale Tyba’s AI-driven energy forecasting, trading, and optimization solutions while supporting its expansion into new geographic markets.

Strategic Investment for Growth

The Series A round was led by Energize Capital, with participation from Pear VC, Mobilize Climate Capital, Borusan Ventures, and follow-on investments from Powerhouse, Wireframe, Virta, and Lorimer. Tyler Lancaster, Partner at Energize Capital and a member of Tyba’s board of directors, emphasized Tyba’s pivotal role:

“Tyba’s solution tackles operational challenges 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.”