Tyba Raises $13.9M to Expand AI Energy Storage Solutions

Tyba, an energy storage optimization software company, has raised $13.9 million in its Series A funding round, bringing its total funding to $18.15 million. Led by Energize Capital, the funding will be used to enhance Tyba's AI-driven solutions aimed at maximizing the profitability of energy storage assets amidst the growing complexity of power markets. As energy storage capacity has surged sixfold in the past three years to reach 30GW in the U.S., Tyba's platform acts as an 'autopilot system for batteries,' automating forecasts and bidding strategies for energy providers. CEO Michael Baker highlighted the platform's role in enabling companies, such as TotalEnergies and Linea Energy, to optimize revenue and enhance grid reliability. The funding will also facilitate Tyba's expansion into new geographic markets, supporting its mission to drive the clean energy transition. This comes at a time when effective management of energy storage assets is critical in responding to fluctuating energy demands and prices.