About Energy Foundry
Energy Foundry is a venture capital firm founded in 2012. It is primarily based out of Chicago, United States. As of May 2022, Energy Foundry has invested in 19 companies. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Energy Tech to High Tech and Real Estate and Construction Tech. Most recently it participated in the $***** Series B round of Recurve Overall, Energy Foundry portfolio has seen 7 acquisitions including key companies like Tank Utility, NanoGraf and Intellihot. A lot of funds co-invest with Energy Foundry, with names like Congruent Ventures sharing a substantial percentage of its portfolio. Energy Foundry has team of 4 people including 3 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Acquisitions
Portfolio Soonicorns
Energy Foundry's List of Top Investments
Energy Foundry has a portfolio of 19 companies. Their most notable investments are in Sistine Solar and Recurve.Their portfolio spans across United States and Canada. They have invested in Energy Tech, High Tech, Real Estate and Construction Tech and 11 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Energy Foundry:
1. SPAN
Smart energy management technology platform that modernizes residential electrical systems. Its solutions replace traditional electrical panels with smart systems that provide homeowners with real-time visibility into household energy usage, circuit-level monitoring, and remote control of appliances and connected devices. It is designed to support modern electrified homes by integrating technologies such as home batteries, electric vehicle chargers, solar systems, HVAC systems, and heat pumps into a centralized energy management ecosystem.
Key facts about SPAN
- Founded Year: 2014
- Location: San Francisco (United States)
- Stage: Series C
- Total Funding till date: $419M
- Employee Count: 396 as on Jun 30, 2026
- Investors: Amazon, Fifth Wall and 33 Others
- Latest Funding Round: Series C, Jan 15, 2026, $*****
- Highlight: Editors' Pick
2. Omnidian
Provider of monitoring and maintenance solutions for solar PV systems. It specializes in developing monitoring systems for domestic solar PV systems. It offers a day-to-day monitoring system that is used for risk management and project management of the installed photovoltaic system. Also, provides repair service and maintenance for solar energy system through signed contracts.
Key facts about Omnidian
- Founded Year: 2015
- Location: Seattle (United States)
- Stage: Series C
- Total Funding till date: $168M
- Employee Count: 332 as on May 31, 2026
- Investors: BNP Paribas Asset Management, Evergy Ventures and 24 Others
- Latest Funding Round: Series C, Apr 24, 2025, $*****
- Highlight: Editors' Pick
3. Tank Utility
Propane tank monitoring solutions for fuel marketers and homeowners. This company provides a tank monitoring solution designed to streamline fuel delivery and prevent run-outs. For fuel marketers, the solution aims to optimize delivery routes and reduce costs. For homeowners, the company offers a mobile app and LTE monitor that provides alerts about fuel levels. This is a tech company offering a software solution. The business model is B2B and B2C. The company provides a SaaS solution for fuel level monitoring. Key features include remote monitoring, real-time data, and proactive alerts. The solution improves the fuel delivery experience for both suppliers and consumers. The website offers resources, support, and contact information. The company provides a login portal for users to access their accounts.
Key facts about Tank Utility
- Founded Year: 2014
- Location: Somerville (United States)
- Stage: Acquired
- Total Funding till date: $9.18M
- Employee Count: 15 as on Jun 30, 2026
- Investors: Bullpen Capital, Energy Foundry and 8 Others
- Latest Funding Round: Series A, Feb 14, 2019, $*****
- Highlight: Acquired
4. NanoGraf
Developer of silicon-based anode materials for lithium-ion battery performance enhancement. The company’s technology aims to replace graphite anodes in lithium-ion batteries. This replacement is intended to improve performance for applications ranging from military to consumer uses. The silicon oxide-based anode materials are designed for extended electric vehicle range.
Key facts about NanoGraf
- Founded Year: 2012
- Location: Chicago (United States)
- Stage: Acquired
- Total Funding till date: $70.5M
- Employee Count: 34 as on Mar 31, 2026
- Investors: Energy Foundry, Defense.gov and 17 Others
- Latest Funding Round: Grant (prize money), Sep 20, 2024, $*****
- Highlight: Acquired
5. Intellihot
Manufacturer of commercial tankless water heaters and related support services. It offers electric and gas powered products for diverse industry applications. The company provides sizing calculators, technical downloads, and training resources. Product support, along with professional service and maintenance, is available to customers.
Key facts about Intellihot
- Founded Year: 2005
- Location: Galesburg (United States)
- Stage: Acquired
- Total Funding till date: $65.5M
- Employee Count: 84 as on Jun 30, 2026
- Investors: Energy Foundry, Evergreen Climate Innovations and 15 Others
- Latest Funding Round: Series B, Dec 07, 2021, $*****
- Highlight: Acquired
Energy Foundry's Year-on-Year Investment Trends
Energy Foundry has invested in 19 companies over the last 13 years, with an average of 1 new investment annually in the last 10 years. Its most recent first time investment was in Recurve and most recent follow-on round was in Azumo.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 1 | 3 | 4 |
2021 | 1 | 2 | 3 |
2020 | 2 | 1 | 3 |
2019 | 1 | 1 | 2 |
2018 | 3 | 0 | 3 |
2017 | 1 | 0 | 1 |
Energy Foundry's Investments by Stage
Energy Foundry has made 7 investments in Seed stage with an average round size of $3.15M, 4 investments in Series A stage with an average round size of $3.17M and 4 investments in Series B stage with an average round size of $10.5M.Stage of entry | No. of Investments |
|---|---|
Seed | 7 |
Series A | 4 |
Series B | 4 |
Note: We have considered here, only first round of investments
Energy Foundry's Investments by Sector
Energy Foundry has a diverse portfolio, with companies operating in the Energy Tech, Sustainability Tech, Environment Tech, High Tech and Enterprise Applications. Notably, it has invested in 17 Enterprise (B2B) companies, 16 Tech companies, 8 Software companies and at least 8 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
Energy Tech | 12 |
Sustainability Tech | 11 |
Environment Tech | 9 |
High Tech | 7 |
Enterprise Applications | 5 |
Others | 18 |
Note: We have considered here, only first round of investments
Energy Foundry's Investments by Geography
Energy Foundry has made most investments in United States (13), followed by Canada where it has made 2 investments.Country | No. of Investments |
|---|---|
United States | 13 |
Canada | 2 |
Note: We have considered here, only first round of investments
Energy Foundry's recent investments
Energy Foundry has not made any investment in 2026 so far.Here are the most recent investments by Energy Foundry:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
May 20, 2022 | United States | Series B | 1599 | ||
May 10, 2022 | United States | Series B | 8758 | [+3] | |
May 03, 2022 | United States | Series A | 8642 | [+4] | |
Apr 07, 2022 | Canada | Series A | 3825 | [+3] | |
Dec 07, 2021 | United States | Series B | 1477 | [+5] |
Acquired companies in Energy Foundry's Portfolio
7 companies from Energy Foundry's portfolio have been acquired. The most recent acquisition was Intellihot in Jul 2026 by Zurn Elkay for $*****.Here are Energy Foundry's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 20, 2026 | Jan 30, 2014 | Series A | 6774 | |
May 12, 2026 | Mar 13, 2014 | Seed | 3520 | |
Oct 01, 2024 | Dec 14, 2020 | Seed | 8267 | |
Sep 20, 2021 | Jun 02, 2016 | Seed | 8429 | |
Nov 27, 2018 | - | - | 1272 |
Team profile of Energy Foundry
Energy Foundry has a team of 4 members including 3 Partners and 1 Principal located in United States. Energy Foundry's team sits on the board of 1 company.Here is a list of all team members in Energy Foundry:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Chicago | - | ||
Partner | Chicago | |||
Partner | Chicago | - | ||
Principal | San Francisco | - | - |
Co-investors of Energy Foundry
Over the past 13 years, 130 investors have co-invested in Energy Foundry's portfolio companies. This includes only funds.
- Invested before Energy Foundry: DOE, Sustainable Development Technology Canada and 14 others have invested in rounds before Energy Foundry. There are 2 companies where DOE has invested before Energy Foundry and 2 companies where Sustainable Development Technology Canada has invested before Energy Foundry.
- Top Co-investors of Energy Foundry: 39 investors entered a company along with Energy Foundry. These include investors like Congruent Ventures (2 companies).
- Invested after Energy Foundry: A total of 75 investors have invested in Energy Foundry's portfolio after their investments. Top Investors include OSTI (2 companies), Evergreen Climate Innovations (2 companies) and Anzu Partners (2 companies).
Recent News related to Energy Foundry
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Recurve Raises $18M in Series B FundingFinSMEs•Aug 31, 2022•Recurve, Calpine Energy Solutions, Quantum Group IM, Toshiba Corporation and 1 other
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Azumo Raises $30M in FundingFinSMEs•May 11, 2022•Azumo, Anzu Partners, SABIC Ventures, VectoIQ and 3 others
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Network Perception scores $13m Series AVCJ•May 02, 2022•Network Perception, The Westly Group, Energy Impact Partners, Serra Ventures and 3 others
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e-Zinc Secures USD $25M in Series A FinancingFinSMEs•Apr 07, 2022•e-Zinc, Anzu Partners, BDC, Toyota Ventures and 2 others
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Intellihot Raises $50 Million from InvestorsPHCP Pros•Dec 09, 2021•Intellihot, Aegon Am, Avenue Capital Group, Evergreen Climate Innovations and 4 others
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Omnidian Raises $33 Million in Series B RoundBusiness Wire•Sep 22, 2021•Omnidian, COPEC, WIND Ventures, Liberty Mutual Insurance and 10 others
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Network Perception Announces $2.73 Million in Seed Round FundingBusiness Wire•Dec 14, 2020•Network Perception, Okapi Venture Capital, Serra Ventures, Energy Foundry and 4 others
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E-zn Raises $3.4 Million Seed Round To Bring Its Energy Storage Solution To MarketBetaKit•Jan 09, 2020•e-Zn, Energy Foundry, MaRS IAF, Emeraude Suisse Capital and 2 others
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Energy Foundry Invests in Sistine SolarPRWeb•Oct 16, 2019•Energy Foundry, Sistine Solar, Masscec, Thin Line Capital
