ImpactAlpha, March 9 — Honolulu-based Shifted Energy creates “virtual power plants” out of single- and multi-family homes by connecting electrical appliances to a cloud-based platform that controls and monitors their energy usage.
The company has raised $4.3 million in seed investment to deploy its smart energy products, such as electric water heaters, solar inverters and EV charging stations, for improved energy efficiency in low-income households in the U.S., Canada and Australia. Kapor Capital and EPIC Ventures led the round, which included Buoyant Ventures, Startup Capital Ventures x SBI Fund and Hunt Development.
Clean and climate tech
Shifted is a portfolio company of Hawaii-based early-stage climate tech investor and accelerator Elemental Excelerator. Shifted launched in 2016 as a spinoff from nonprofit Kanu Hawaii, an organization focused on environmental sustainability and community development in Hawaii.
“Our platform was built as a way to engage with hard-to-reach communities who typically don’t have access to rooftop solar or EV charging,” said Shifted’s Forest Frizzell. Utilities benefit from better grid stability by more accurately matching energy supply and demand.