Redback Technologies builds an integrated Smart Hybrid System that captures, stores and manages rooftop solar using combined hardware and software. Its system uses machine learning to predict solar generation and customer usage and then makes intelligent decisions to optimise energy usage and lower costs. Redback's software can aggregate systems into a virtual power plant to provide grid services and support higher renewable integration. The company is expanding R&D and product development for a next-generation energy intelligence platform and devices. Management said the investment will enable hiring of over 30 full‑time employees in the next six months to strengthen technical and professional capacity. EnergyAustralia has already offered Redback's Generation 2 Smart Hybrid System to its 1.7 million customers across several states following an earlier A$9.3 million investment in 2016. Redback Technologies develops residential and commercial solar energy solutions. The company is co-founded and led by Philip Livingston. It has secured a $1.96 million boost from the Queensland government as it prepares to run a major pilot project in Dubai. The latest support includes $1.42 million worth of staff and resources provided by Energy Queensland. Redback previously received $9.3 million from EnergyAustralia in October 2016. The current financing is positioned to support international pilot activity and continued product deployment. Redback Technologies offers end-to-end hardware and software systems that allow residential and commercial users to capture, store, manage and monetise rooftop solar, and provides insights into energy consumption and performance. Founded in 2015 and based in Brisbane, the company emphasises consumer empowerment and aims to enable customers to use, store, or sell their own generated energy. With the investment the startup plans to accelerate product development and build core infrastructure across both software and hardware. Redback is working with the University of Queensland on new developments and is expanding its team — hiring at a rate of about a developer a week for its Brisbane team — while also growing its Chinese office. The company says it will prioritise changing the Australian market before pursuing international expansion and will leverage its strategic partner to market products to that partner’s customer base.

Total raised

$18M

Funding rounds

3

Latest round

Series A

Latest activity

Dec 2017