# Piclo

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

- Industry: Power & Utilities
- Headquarters: London, UK
- Website: www.piclo.energy
- Total disclosed funding: $21M
- Latest round: Series B (Mar 20, 2023)
- Investors on record: 9

## About

Founded in 2013 and based in London, UK, Open Utility Ltd. develops Piclo Flex, an energy trading system that allows users to sell and buy electricity directly from suppliers. The CFO, Tom Saul, worked as a general manager of Open Energi. Before co-founding the company, Alice Tyler, worked at Mint Digital and CarbonCulture. In December 2021, the company won the Digital DSO Power Award. Piclo also established branch offices in Lithuania, Portugal and United States. In August 2024, Piclo raised an undisclosed amount of venture funding led by EDP Ventures, with participation from Clean Growth Investment Management and Future Energy Ventures. The company launched Piclo Flex, a marketplace that supports SOs in the end-to-end process of procuring and operating flexibility. The platform is composed of a series of functional modules which SOs can subscribe to, based on flexibility needs and the required degree of process automation. The services provided by the platform includes process automation, market engagement and customer support.

## Funding rounds

- Series B, Mar 20, 2023, $13M — Future Energy Ventures, Enechange Co., Ltd., Green Angel Syndicate, Clean Growth Investment Management, Toshiba Energy Systems & Solutions, Sustainable Future Ventures, Japan Energy Capital
- Series A, May 6, 2021, $6.6M — Mott MacDonald, Green Angel Syndicate, Clean Growth Investment Management
- Series A, Dec 14, 2020, $2M — Bethnal Green Ventures, Clean Growth Investment Management

## Investors

- Bethnal Green Ventures (https://capitalatlas.ai/funds/bethnal-green-ventures) — Series A
- Clean Growth Investment Management (https://capitalatlas.ai/funds/clean-growth-investment-management) — Series A, Series B
- Mott MacDonald — Series A
- Green Angel Syndicate (https://capitalatlas.ai/funds/green-angel-syndicate) — Series A, Series B
- Future Energy Ventures (https://capitalatlas.ai/funds/future-energy-ventures) — Series B
- Enechange Co., Ltd. — Series B
- Toshiba Energy Systems & Solutions — Series B
- Sustainable Future Ventures (https://capitalatlas.ai/funds/sustainable-future-ventures) — Series B
- Japan Energy Capital (https://capitalatlas.ai/funds/japan-energy-capital) — Series B