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Cable Raises $4.0M Pre-Seed

Recently funded · $4.0M Pre-seedUtilitiesView source

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Australian small businesses grappling with high energy costs might soon see some relief, as Cable, a startup promising structurally cheaper power, has closed a $4.0M pre-seed funding round. The investment was backed by Systemiq Capital and Black Nova VC.

Cable's approach involves providing each customer with a zero-cost battery system. This system intelligently charges when energy is cheap and discharges during peak pricing, enabling the company to offer a flat 24/7 rate that is 20-40% below incumbent providers.

Sydney-based energy startup Cable has raised $4 million in pre-seed funding from Systemiq Capital and Black Nova VC. The company aims to help small businesses reduce electricity costs by installing and managing batteries, giving them access to the distributed grid.

Founded by Dominic Reardon, Cable provides batteries at no upfront cost, using its software to optimize energy usage based on wholesale prices. The model is designed to significantly lower bills for SMEs, a traditionally underserved market in the energy transition. More at: https://lnkd.in/dJXGPC_6 #EnergyTech #Startups #Funding

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