Hachiko, a startup specializing in optimisation software for industrial battery storage, has successfully closed a $2.5 million seed funding round. The investment was led by Archangel Ventures and will fuel the expansion of Hachiko's technical and go-to-market teams. This capital injection is set to enhance the company's platform capabilities, accelerating its mission in the renewable energy sector.
Accelerating the Energy Transition
Hachiko's platform is designed specifically for commercial and industrial (C&I) battery energy storage systems. It functions as an advanced portfolio management tool, enabling users to significantly improve the financial performance of their assets. The software promises to double portfolio viability and deliver revenue uplifts exceeding 75% across various energy markets.
The C&I battery segment is experiencing rapid growth, outpacing larger utility-scale projects which can take up to six years to develop. This acceleration is driven by an 85% reduction in capital expenditure over the last decade and simplified development timelines. Consequently, over $4.5 billion has been earmarked for C&I projects in the past three years alone.
Strategic Vision and Leadership
Founder and CEO Rakhesh Martyn highlighted the critical role of C&I batteries in meeting ambitious national energy goals. He noted that while the industry has built approximately 4GW of utility-scale batteries since 2017, the distributed battery segment is moving much faster. Martyn believes that with tools like Hachiko, the industry can easily surpass its target of 120GW.
Martyn expressed immense pride in his team's achievements and gratitude towards the company's early customers for their foundational support. He acknowledged that their backing was instrumental in attracting a syndicate of world-class investors to the seed round. This new partnership provides the resources needed for Hachiko to scale its operations and impact significantly.
Investor Confidence and Market Potential
Lead investor Archangel Ventures expressed strong conviction in Hachiko from an early stage. Partner Rayn Ong noted that the C&I BESS market is entering a period of unprecedented growth, fueled by falling battery costs and rising investor appetite. This creates a perfect environment for innovative software solutions to thrive and add substantial value.
Ong described the opportunity as "blue-ocean," emphasizing the clear founder-market fit demonstrated by Rakhesh Martyn. He asserted that every asset in this burgeoning segment will eventually require a sophisticated software layer for management and optimisation. The positive feedback from industry references further solidified their confidence in Hachiko's potential to lead this space.
With this new funding, Sydney-based Hachiko is poised to capitalize on the rapidly expanding C&I battery storage market. The investment will not only enhance its platform but also strengthen its team, enabling asset owners to achieve greater returns and efficiency. Ultimately, Hachiko's growth represents a significant step forward in making the broader energy transition smarter and more profitable.
Source: StartupDaily