Raptor Maps Receives $22 Million in Financing for Solar Lifecycle Analytics

Raptor Maps is a provider of software for managing the solar lifecycle. It has closed $22 Million in Series B funding to support its Raptor Solar platform. The round is led by Canadian private investment firm MacKinnon, Bennett & Co. (MKB), which specializes in accelerating innovation in energy, transportation and climate tech. Blue Bear Capital, DNV. Buoyant Ventures and Congruent Ventures are other investors. Data Point Capital is another investor.

Raptor Solar is an advanced software-as-a-service platform for the entire solar lifecycle – from financing and development through operations. Raptor Solar lets utility-scale and C&I solar companies standardize and analyze data, collaborate, optimize PV assets, reduce risk, and lift financial return.

The SaaS platform is an auditable system that records digital twins of solar assets. To streamline warranty claims and verify supply chain logistics, users can scan in module serial number.  Subscribers benefit from inspection analytics, productivity tools and ability to quantify financial loss and even benchmark portfolios against Raptor Maps’ global database.

“We’re very excited about our investment in the most sophisticated solar analytics and insights platform on the market,” says Chanel Damphousse, partner at MKB.  “Raptor Maps has some of the most intelligent and skilled experts in the solar industry, and their product roadmap represents a bold vision for how data married with productivity tools unlocks value across the lifecycle of solar assets.”

Raptor Maps will be able to accelerate its hiring plans by utilizing the funding. It will also invest heavily in software, data science, and product development.  The company will rapidly expand its feature-rich product portfolio with more functionality related workflow automation, work order management, investor reporting, and insights powered by machine learning.

“Making the solar industry more profitable represents progress towards advancing a sustainable energy future,” explains CEO and co-founder Nikhil Vadhavkar.  “Our mission is to build software that enables solar energy to scale.  We’re delighted to have partners with the right expertise to support our ambitious plans.”

“To meet the world’s urgent climate goals, the energy industry needs tools to become nimbler and deploy renewable energy quickly,” says Mark Kroese, general manager of sustainability solutions at Microsoft.  “Raptor Maps is digitizing solar supply chains, deployment and operations, which will help accelerate the global transition to cleaner energy solutions.”