# Shyft Power Solutions

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shyft-power-solutions

- Industry: Renewable Energy
- Headquarters: San Francisco, US
- Website: www.shyftpower.com
- Total disclosed funding: $3.1M
- Latest round: Seed (Apr 14, 2021)
- Investors on record: 5

## About

Shyft Power Solutions, Inc. is dedicated to implementing advanced IoT and software solutions for managing distributed energy resources and minigrids, enhancing energy efficiency for various users.Founded in 2016 in San Francisco, US, Shyft Power Solutions focuses on providing innovative solutions for energy management. The company has not reported any pivots in its business strategy. Ugwem Eneyo serves as the CEO, leading a team that has successfully completed three investment deals, with the most recent funding round being a Seed round in November 2024, securing USD 3.1 mn from investors including Lofty Inc, SB Investment Advisers, and others. The entire amount raised to date also stands at USD 3.1 mn.Shyft Power Solutions specializes in advanced IoT and software solutions that facilitate the monitoring and management of distributed energy resources and minigrids. Their core offerings include sophisticated platforms that allow users to remotely control energy systems, optimize asset performance, and enhance operational efficiency. The SHYFT Connect and SHYFT FlexView applications serve various customer segments, including real estate developers, energy service providers, and home and business owners, enabling modern, energy-efficient experiences. By integrating hardware and software, SHYFT provides a unified dashboard for managing multiple energy sources like solar, batteries, and generators, primarily utilized across Nigeria and other regions in Africa.Shyft Power Solutions generates revenue through a mix of subscription-based models and partnerships with various stakeholders in the energy sector. The structure of their transactions typically involves direct sales to energy service providers and real estate developers who integrate SHYFT's technology into their service offerings. Clients pay for access to SHYFT's platforms, which include flagship products such as the SHYFT Connect App and SHYFT FlexView App, providing them tools to manage and optimize energy consumption. While specific pricing details for these services are not disclosed, the company’s revenue model supports both B2B engagements and direct-to-consumer solutions, catering to a diverse customer base focused on improving energy efficiency and cost savings.In November 2024, Shyft Power Solutions, Inc. merged with Steama Company Limited, a significant move aimed at enhancing service offerings and addressing energy crises in Nigeria and Africa. The merger will leverage combined expertise to improve service delivery and prevent national grid collapses. Funding from the recent Seed round will be directed towards developing new products and expanding operations into additional markets, with a focus on enhancing their existing platforms and exploring opportunities in other regions affected by energy challenges.

## Funding rounds

- Seed, Apr 14, 2021, $3.1M — Samurai Incubate, Lofty Inc, Third Sphere, Total Ventures, SB Investment Advisers

## Investors

- Samurai Incubate (https://capitalatlas.ai/funds/samurai-incubate) — Seed
- Lofty Inc — Seed
- Third Sphere (https://capitalatlas.ai/funds/third-sphere) — Seed
- Total Ventures (https://capitalatlas.ai/funds/total-ventures) — Seed
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Seed