# Paces AI

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/paces-ai

- Industry: Software
- Headquarters: Brooklyn, US
- Website: www.paces.com
- Total disclosed funding: $11M
- Latest round: Series A (Jul 24, 2024)
- Investors on record: 6

## About

Based in New York, US, and founded in 2022 by CEO James McWalter and CTO Charles Bai, Paces AI Inc. operates as a software company that develops a platform that streamlines workflows, mitigates risks, and accelerates project timelines for renewable energy generation and high-capacity grid connections. In July 2024, Paces AI Inc. raised USD 11 million in a Series A funding led by Navitas Capital, with participation from Suffolk Technologies, My Climate Journey Collective, Resolute Ventures, Soma Capital Management, and Y Combinator. The Series A funding values Paces AI Inc. at USD 43.10 million post-money.

Paces provides a software platform designed to support renewable energy projects and high-capacity grid connections. For generation projects, it streamlines workflows from origination to due diligence, offering data-driven tools to reduce workload and mitigate risks. For load projects, the platform delivers detailed insights to assess site suitability, facilitating informed decision-making. By integrating human and AI insights, Paces enables developers to navigate challenges such as financing and land access. The platform includes features like secure data management, customizable software, and comprehensive support, addressing the critical needs of the renewable energy sector and aiding in the efficient development of sustainable energy infrastructure.

The company plans to use its proceeds from July 2024 funding to support the implementation of grid-connected initiatives.

## Funding rounds

- Series A, Jul 24, 2024, $11M — Navitas Capital, Y Combinator, Resolute Ventures, Soma Capital Management, MCJ, Suffolk Technologies

## Investors

- Navitas Capital — Series A
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series A
- Resolute Ventures (https://capitalatlas.ai/funds/resolute-ventures) — Series A
- Soma Capital Management (https://capitalatlas.ai/funds/soma-capital-management) — Series A
- MCJ (https://capitalatlas.ai/funds/mcj) — Series A
- Suffolk Technologies (https://capitalatlas.ai/funds/suffolk-technologies) — Series A