Tyba, the San Francisco-based pioneering energy storage optimization platform, has completed a $13.9 million Series A funding round. The round was led by Energize Capital, with significant contributions from Pear VC, Mobilize Climate Capital, and Borusan Ventures. Existing investors Powerhouse, Wireframe, Virta, and Lorimer also participated, showing their continued confidence in Tyba’s vision and technological prowess.

Series A funding of $13.9 million has lifted the total amount raised by Tyba to $18.15 million, an inflection point for the company in its growth journey. Funds raised will be deployed to scale up Tyba’s AI-enabled energy forecasting, trading, and optimization solutions to power energy producers’ revenue stream optimization, reinforce grid reliability, and expand portfolios efficiently with the shift to clean energy globally.

Established in 2020, Tyba has swiftly emerged as a trailblazer in the energy sector, offering a unified simulation and operations platform that serves as a mission control center for developers, owners, and operators of energy storage projects. The platform is engineered to inform and automate energy storage operations, providing users with the agility to make strategic adjustments with a simple click. 

Tyba in delivering stand-alone and hybrid projects’ end-to-end modeling from early-stage development through operations empowers businesses to build and operate their projects more efficiently and profitably. 

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Founders and Executive Team

Tyba was founded by Michael Baker (CEO), Tom Thunell (COO), and Tyler Nisonoff (CTO).

Michael Baker, who is currently leading the company, envisions the simplification and improvement of the operation of energy storage systems in order to make them accessible and profitable to energy producers. Tom Thunell manages the operations so that the solutions being developed by the company can efficiently address the energy market’s current needs. 

Tyler Nisonoff is leading technological development with regard to AI-enabled energy forecasting and optimization. 

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Innovative Approach to Energy Storage Optimization

Tyba’s platform addresses the complexities inherent in operating energy storage systems. Batteries, while pivotal for grid decarbonization, present operational challenges due to their limited capacity and the dynamic nature of energy markets. 

Operators must determine the optimal times to charge and discharge energy, considering fluctuating prices and multiple market products. Tyba’s AI-enabled solutions simplify this process by providing precise energy forecasting and automated trading strategies, enabling operators to maximize profitability while maintaining grid stability.

Industry Challenges

The energy industry is transforming towards renewable sources, and the need for efficient energy storage solutions to manage intermittency and ensure reliability. Tyba’s platform mitigates the challenges associated with energy storage operations by offering a comprehensive toolset for simulation and real-time management. This empowers energy producers to make informed decisions, optimize asset performance, and navigate the complexities of energy markets with confidence.

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Strategic Partnerships and Market Potential

It got funded with their very first Series A round, led by very influential energy investors. This shows that the marketplace recognizes Tyba’s innovative approach and the enormous potential of the platform.
It isn’t just about the financial injection but also helps Tyba understand strategic concepts that accelerate growth and penetrate the market better with Energize Capital, Pear VC, Mobilize Climate Capital, and Borusan Ventures as investors.

As the global energy landscape continues to evolve, Tyba is in a great position to play a critical role in facilitating the transition to clean energy by enhancing profitability and efficiency of energy storage projects. 

The new capital injection will position Tyba to enhance the capabilities of its platform with the integration of advanced AI and machine learning algorithms that further optimize energy forecasting accuracy and optimization strategies.

The company intends to expand the market by targeting a wide group of energy producers, including independent power producers, utilities, and developers.

With a scalable and user-friendly solution, Tyba becomes an essential partner to energy companies that strive to maximize their storage assets’ value and contribute to sustainable energy.