Lerta raises $2M to develop the virtual power plant

Poznań-based Lerta, a company developing modern technological solutions for the energy sector, has raised $2 million. Photon Energy, a global provider of solar power solutions and services, has invested over $1 million and acquired 12% of Lerta’s shares. It is the second round Photon Energy participated in. For the first time, it gave funding to Lerta in 2018 through ValueTech Seed Fund, MamStartup reports.

CTO Krzysztof Drożyński and CEO Borys Tomala, co-founders of Lerta

Founded in 2015 by CEO Borys Tomala and CTO Krzysztof Drożyński, Lerta offers energy sellers support in business digitization and development, as well as in tailoring their offer by means of an expert metering and analysis system. The Lerta virtual power plant system, based on proprietary hardware, software, and AI solutions, enables the measurement and analysis of electricity generated and its consumption by households and business customers.

A new partnership will allow Lerta to strengthen its positions on the Polish market and expand to Hungary and Romania, where Photon Energy has been successfully operating for years. Additionally, Lerna is planning to spend the proceeds on developing the virtual power plant.