The London-based startup ENIAN, which develops pipeline acceleration software for the renewable energy industry, has secured a $1.5 million pre-seed investment round. The round, which comes just eight days after the firm’s platform launched, will broaden enterprise access to data and intelligence that its leaders hope will accelerate the global shift to clean power.
The funding was led by angel investors and energy experts, latterly of Goldman Sachs and Vitol. It is a step in ENIAN’s vision to scale globally as a “principle of software design,” writes Philip Bruner, the company’s CEO and co-founder alongside Varun Sharma. Innovate UK, a UK government’s investment vehicle, has previously contributed to ENIAN’s funding.
“‘Think Big’ as a value isn’t too imaginative, but we define it specifically as ‘only building products and features that can scale globally,'” Bruner continues. “This way of thinking big has put us in a unique position as a B2B SaaS player in the renewables market — our pipeline acceleration software is built to go global. And with this new funding round, we are setting our sights on wider Europe, the US, Asia and Africa to do just that.”
ENIAN’s pipeline acceleration platform allows energy professionals from 222 countries access to vital industry data. It generates forecasts from user-generated data in moments. It includes a cash-flow tool with which firms can predict the true costs of projects, and a searchable map.
ENIAN is attempting to become an industry standard, in a renewable energy market that overtook fossil fuels in the UK for the first time last October. The global renewables industry is now worth a reported $1.5 trillion, as countries across the global move away from greenhouse gas-heavy fossil fuel production.