June 11 (Renewables Now) - Aerial inspection software developer Raptor Maps has raised funding from new and existing investors to grow its presence on the global solar market and launch new features and products.
The US company has plans to develop new mobile applications and software tools to optimise solar project finance, it said on Sunday, without disclosing how much it raised. The funding round was led by venture capital and growth equity firm Blue Bear Capital. Congruent Ventures, Powerhouse Ventures and existing investor Y Combinator also participated.
Raptor Maps’ software is used to build geospatial, digital models of solar system asset health. FLIR infrared cameras gather the data and it is then analysed using computer vision and machine learning. Its goal is to makes it simple and affordable for solar firms to use drone technology to increase performance, cut costs, and standardise and compare solar photovoltaic (PV) assets across a portfolio.
The company analysed more than 25 million solar panels in 21 countries in the past year. Cypress Creek Renewables, Enel Green Power, and Swinerton Renewable Energy are among its customers.
“Solar owners and operators are leveraging Raptor Maps analytics to increase project revenues by 2% above baseline, and reduce costs for required inspections by over 50%. The company’s SaaS products are compatible with enterprise software and used by data scientists to de-risk portfolios, carefully track degradation, and inform future projects” said Blue Bear Capital partner Ernst Sack.