SAN FRANCISCO — Tyba, an energy storage optimization platform, has 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.”
This funding will help Tyba expand its forecasting and optimization capabilities into new markets, and across asset classes.
