SHYFT Power Solutions develops IoT hardware and data-driven software to improve performance and operational efficiency of distributed energy resources in emerging markets. Its asset management solution uses algorithms to track, automate, and optimize property-level assets and grid connections while aggregating multiple data streams. The company was founded by Stanford engineers and has initially targeted Nigeria, where an inefficient grid has led to heavy reliance on generators. SHYFT recently raised additional seed funding and plans to use proceeds to double its West Africa team and improve AI capabilities for device optimization using its data and algorithms. The company also intends to form corporate alliances and expand into other African markets facing similar energy challenges. Its mission ties cleaner energy adoption to lower costs and reduced carbon emissions in underserved regions.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Apr 2021