Synota develops a settlement platform that integrates existing energy hardware and software with Bitcoin’s Lightning Network to enable instant settlements and synchronized energy-payments. The platform is designed to remove cash lag and reduce credit risk and collateral needs by aligning payment timing with real-time energy flows. Synota says its solution automates legacy back-office settlement processes, lowers overhead, and reduces the cost of energy. The company plans a pay-as-you-go service for Bitcoin miners, hosts, and their energy suppliers early next year and will make the software available to the broader energy industry in 2024. Synota positions its product to support dynamic pricing and simultaneous multi-party settlement to handle complex energy transactions. The company frames its mission as promoting global energy abundance by resolving financial friction that inhibits energy investment and innovation.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2022