Paces AI Raises $11 Million Series A Led by Navitas Capital, Resolute Ventures to Enhance Renewable Energy Solutions

Jul 26, 2024, 07:01 AM

Paces AI has successfully raised $11 million in a Series A funding round, aimed at enhancing its software tools for renewable energy site selection and due diligence. The funding, led by Navitas Capital and supported by Resolute Ventures, will enable Paces AI to further accelerate its mission of transitioning to a green economy. The company has experienced significant growth over the past two years and plans to utilize the new capital to streamline processes, reducing the time required for energy project evaluations from months to minutes. This funding milestone is part of a broader trend in the energy tech sector, as demonstrated by Greenely, which recently secured €8 million to expand its reach and support Europe’s energy transition.