Participated · Equity · May 2023

Peak Power offers software and services that control and optimize battery storage, grid-interactive buildings, and electric vehicles to unlock hidden capacity and balance multiple objectives including net-zero goals, financial returns, and grid reliability. Its flagship platform, Peak Synergy, optimizes across revenue streams to enable investor returns and further battery storage deployment. The company currently operates in Ontario, New York, New England, Virginia, and California, with Peak Synergy deployed across more than 13 million sq. ft. of real estate. Peak Power has roughly 150 MWh of battery and electric vehicle capacity under contract or committed across North America. Led by CEO Derek Lim Soo, the company plans to use new funding to ramp U.S. expansion, hire for critical roles, and continue developing its software capabilities. The business model centers on software-enabled optimization to monetize distributed energy assets for owners and investors. Peak Power develops software to aggregate and optimize distributed energy assets in the built environment, aiming to accelerate decarbonization of commercial and industrial buildings. Its flagship product, Peak Synergy, optimizes battery energy storage systems, grid-interactive buildings, and electric vehicle assets. The company has evolved its Distributed Energy Resource Aggregation (DERA) platform to unlock grid flexibility and enable customers to cut operating expenses, reduce emissions, and sell energy back to the grid. Peak Synergy is deployed in over 10 million square feet of real estate, with approximately 90 MWh of battery and electric vehicle capacity under contract or committed. SDTC awarded Peak Power C$5 million to expand the DERA platform across North America and support rapid scale-up. With this funding, Peak Power plans to expand its portfolio of projects across Ontario, California, and Massachusetts. Founded in 2015 and operating in Ontario, New York, New England, and California, the company positions its software as a tool to drive wider adoption of renewables and decentralized electricity resources. Peak Power’s flagship product, Peak Synergy, is software that optimizes three energy assets—battery energy storage systems, grid-interactive buildings, and electric vehicles—to minimize costs, reduce emissions, and sell energy back to the grid. The company’s Synergy technology is being used to underpin its Peak Drive EV charging project and will manage V1G chargers to draw power when grid capacity is available, avoid peak demand, and adjust charge rates. Peak Power plans to deploy 117 V1G chargers across several mixed-use developments in Ontario as part of this project, working with SWTCH Energy (co-developing the charger software) and Signature Electric (installing hardware and infrastructure). The project is supported by a $765,000 investment from Natural Resources Canada’s Zero Emission Vehicle Infrastructure Program (ZEVIP) toward a total project cost valued at over $1.6 million. Operational metrics disclosed include Peak Synergy being deployed in over 10 million sq. ft. of real estate, with about 90 MWh of battery and electric vehicle capacity under contract or committed, and an annual greenhouse gas reduction of 72,000 tCO2e. The company was founded in 2015 and operates in Ontario, New York, New England, and California. Peak Power develops the Synergy™ AI-powered platform that optimizes the operation of buildings and distributed energy resources (DERs) such as batteries and electric-vehicle chargers. The platform is deployed in over 15 million square feet of commercial and industrial real estate across Ontario, New York, and California. Peak’s software is designed to unlock revenue for customers, reduce operating costs, and decrease environmental footprint by enabling batteries and other assets to act as grid resources. The company says the current financing will fund rapid global expansion of the Synergy platform. Peak positions itself at the nexus of smart buildings, clean energy, and electric mobility. Founded in 2015 and based in Toronto, the company’s leadership includes CEO and co-founder Derek Lim Soo. Peak Power develops the Synergy™ AI software to optimize buildings, energy storage and electric vehicles as synthetic, stationary and mobile batteries for real-time grid response. Its platform can deploy assets independently or collectively as a virtual power plant to unlock revenue streams and reduce customer emissions. Peak serves commercial & industrial customers, energy developers and utilities and highlights deployments for large REITs and C&I facilities. The company reports assets under control in Ontario, New York and California and says it achieved industry firsts such as discharging a fleet of EVs via vehicle-to-grid within a multi-asset VPP. Peak has been featured in Forbes and BNN for its innovation. With new capital from Sensata Ventures and Export Development Canada, Peak plans to expand its Synergy platform and scale internationally, with particular focus on manufacturing, commercial & industrial and buildings.

Led · Series C · Dec 2020

Uhnder develops commercial digital radar chips and software serving automotive, industrial, and defense customers. Its patent-pending technology aims to improve azimuth and elevation measurement accuracy to enable advanced driver-assistance systems (ADAS) and autonomous driving. The company has shipped over 200,000 of its next-generation digital radar chips and reports dozens of customer engagements across its target sectors. Founded in 2015 by Dr. Manju Hegde and Curtis Davis and based in Austin, Texas, Uhnder targets applications ranging from safety to convenience. The company intends to use new funding to expand its market presence. Uhnder develops fully digital 4D software-defined imaging radar using Digital Code Modulation (DCM) to replace traditional analog frequency modulation, delivering higher angular resolution, interference rejection, and High Contrast Resolution (HCR). Its flagship product, Voxel, is expected to be in production and automotive qualified in 2021. The company supplies both chips and system solutions for perception stacks and says customers requiring best-in-class radar for autonomous systems are fueling demand. Sensata Technologies plans to use Uhnder’s digital imaging radar chip across applications in mining, agriculture, aerospace, and construction. Uhnder was launched in 2015 and is headquartered in Austin, Texas. The company positions its technology as enabling improved safety and smaller, lower-power radar footprints for autonomy and other automation applications.

Participated · Series B · Aug 2016

Quanergy Systems develops high-performance, AI-powered LiDAR sensors and smart perception platforms for mapping, security, smart cities, smart spaces, industrial automation and transportation. The company offers products including the 100% CMOS-based solid state S3-2 sensor and the M8 sensor, and bundles sensing with its Flow Management platform for access control and people counting. Quanergy has deployed smart city traffic-flow installations in China with Geely and established distribution partnerships with GeoCue and Geodetics for mapping customers. The company plans to use newly secured capital to accelerate product expansion, R&D, global distribution channels, and to fill key positions across the organization. Leadership changes, including the appointment of Dr. Kevin J. Kennedy as CEO, are intended to support execution of growth strategies across Quanergy's core markets. Quanergy was founded in 2012 and is headquartered in Sunnyvale, California. Quanergy designs and manufactures compact solid-state LiDAR sensors (notably the S3) and accompanying perception software for real-time 3D spatial data capture and object detection. Product and software development is progressing briskly, with substantial orders for the S3 fulfilled this year and ongoing work to increase field of view and range in outdoor environments. Revenue is described as increasing rapidly and bookings are exceeding forecast; the Series C financing extends the company well beyond planning horizons toward cash-flow and operating breakeven and keeps its IPO process on track. Since the end of 2017 the company reports an annual production capacity of one million solid-state sensors at a fully automated Silicon Valley production line. Quanergy highlights seven granted and eight pending patents, recent awards and certifications (including ISO 9001:2015 and IATF 16949 automotive production qualification), and a goal to further accelerate innovation, commercialization, and construction of ultra-large-scale production facilities. The company is pursuing integration of third-generation solid-state LiDAR onto a single chip and aims to speed production ramping while maintaining low unit cost targets. Quanergy builds compact, automotive-grade solid-state LiDAR sensors and sensing systems, and offers AI perception software for real-time 3D mapping, object detection, tracking, and classification. The company says its sensors use standard semiconductor manufacturing processes and have no moving parts at macro or micro scale, offering lower cost, higher reliability, smaller size, and reduced weight versus mechanical alternatives. Quanergy introduced its S3 solid-state LiDAR at CES in January 2016 and currently holds pre-production contracts with multiple global customers. The company plans to use new funding to ramp production, leverage its intellectual property, scale operations and infrastructure, continue global expansion, and expand its engineering team. Financially, Quanergy raised a $90 million Series B at a valuation well over $1 billion, bringing total funding to approximately $150 million. Founded in 2012 and headquartered in Sunnyvale, California, the company targets transportation, security, mapping, and industrial automation markets. Quanergy Systems develops LiDAR sensors and software for real-time capture and processing of 3D mapping data. Its LiDAR products feature a 300-meter range, centimeter accuracy, 360° field of view, all-weather capability, compact size, low power consumption, and a low price point. The company targets transportation applications including advanced driver assistance systems and autonomous driving, and has established early partnerships with global automotive, mining, and digital mapping companies. Quanergy plans to expand its market footprint into logistics, robotics, aeronautics, security, and 3D-aware consumer electronics. Headquartered in Sunnyvale, California and founded in 2012, the company intends to use the new funding to accelerate development and commercialization of its 3D LiDAR products. As of this round Quanergy has raised a total of $34.5 million. Quanergy Systems develops LiDAR sensors and software for capturing and processing real-time 3D mapping data, enabling object detection, tracking and classification. Its core product is the Mark VIII LiDAR, which the company intends to develop and commercialize with the newly raised funds. The firm plans to apply 3D mapping data to improve on-board driver safety systems via object recognition and scenario analysis and to enable autonomous driving in the future. Quanergy has established early partnerships with global automotive companies and digital map makers and expects to expand its market footprint following the Mark VIII introduction. The company raised investment funds of an undisclosed amount from a group of backers and will use the capital for product development and commercialization. Quanergy was founded in November 2012 by CEO Louay Eldada and is based in Sunnyvale, California.