Modo Energy

Reviewed active Updated Jul 22, 2026

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Location London, United Kingdom
Founded 2019
Latest Stage Growth
Total Raised $52M
Website https://modoenergy.com
Sector
energytech cleantech climate-tech ai saas energy-storage

Founders

Quentin Scrimshire CEO & Co-Founder
Tim Overton Co-Founder & Director

About

Modo Energy is a London-headquartered platform that provides AI-powered benchmarking, forecasting, and valuation tools for battery energy storage and other renewable and flexible-energy assets 12. The company was founded in 2019 by CEO Quentin Scrimshire and Director Tim Overton and now employs more than 75 analysts, data scientists, and engineers 23. Its platform covers 15 energy markets and is used by more than 200 companies across roughly 30 countries; Modo says its forecasts have supported more than $3.8 billion in energy-asset financing to date 23. The company describes itself as the only FCA-regulated benchmark provider for battery energy storage globally 2. Its AI analyst, Ko, is designed to answer complex market questions and, over time, run data analysis and reporting end to end 12.

Funding History

Date Round Amount Lead Co-investors
2026-07-22 Growth €14.9M (£12.7M / $17M) CIBC Innovation Banking — 123
2025-12-03 Series B £25M ($33M) Molten Ventures ETF Partners, MMC Ventures, Fred Olsen Limited 45

What Investors Say

Sean Duffy, Managing Director and Market Lead at CIBC Innovation Banking, said Modo Energy “is building critical infrastructure for the energy transition — a trusted standard for valuing storage and renewable assets” 2.

What Founders Say

Quentin Scrimshire, CEO and Co-Founder of Modo Energy, said of the CIBC growth round: “When forecasts are bankable, capital flows and projects get built. That’s the standard we hold ourselves to — and it’s why CIBC Innovation Banking is backing us” 12.

At the time of the Series B in late 2025, Scrimshire said: “We’re building the benchmarking and valuation operating system for global electrification — and AI is central to that mission” 5.

Sources

  1. “Modo Energy secures £12.7m to scale platform for energy storage analysts,” UKTN, July 22, 2026. Accessed July 2026. https://www.uktech.news/energy/modo-energy-secures-12-7m-to-scale-platform-for-energy-storage-analysts-20260722↩↩↩↩

  2. “CIBC Innovation Banking Provides $17m in Growth Funding to Modo Energy,” Yahoo Finance (CIBC press release), July 21, 2026. Accessed July 2026. https://ca.finance.yahoo.com/news/cibc-innovation-banking-provides-17m-110000914.html↩↩↩↩↩↩↩↩

  3. “Modo Energy Secures $17 Million In Growth Funding From CIBC Innovation Banking,” Pulse 2.0, July 2026. Accessed July 2026. https://pulse2.com/modo-energy-secures-17-million-in-growth-funding-from-cibc-innovation-banking/↩↩↩

  4. “London’s Modo Energy secures €14.9 million to scale its AI-powered energy benchmarking and valuation platform,” EU-Startups, July 2026. Accessed July 2026. https://www.eu-startups.com/2026/07/londons-modo-energy-secures-e14-9-million-to-scale-its-ai-powered-energy-benchmarking-and-valuation-platform/↩

  5. “Banking on Better Benchmarks: Molten’s leads £25m Series B investment in Modo Energy,” Molten Ventures, December 2025. Accessed July 2026. https://www.moltenventures.com/news/banking-on-better-benchmarks-moltens-leads-25m-series-b-investment-in-modo-energy↩↩