$50m for US AI-enabled home bidirectional EV charger

$50m for US AI-enabled home bidirectional EV charger

Business news |
By Nick Flaherty

Canadian startup dcbel has raised $50m for its AI-enabled home bidirectional EV charger technology.

Existing investors Volvo Cars, Coatue, Kevin Mahaffey and Real Ventures add Idealist Capital and Investissement Québec for the Series B round for the Montreal-based company.

The funding will enable dcbel to accelerate delivery of its dcbel r16 Home Energy Station in the US. This is the first domestic bidirectional charger that also supports solar panels, stationary batteries with inverter and electric vehicles (EV) to provide power to the home.

Pierre Larochelle, Co-Managing Partner of Idealist Capital, will be appointed to the dcbel Board of Directors. Larochelle has been an active investor in the renewable energy, electrification of transportation and sustainability sectors for over 10 years and is currently chair of the Lion Electric Company.

“For over a decade, I have focused on climate impact investments in the renewable energy and storage, energy efficiency and electrification sectors,” said Larochelle. “dcbel sits at the nexus of all these industries, representing a truly exciting opportunity to change the way we think about home energy.”

“dcbel will greatly benefit from welcoming a distinguished group of investors,” said Marc-Andre Forget, CEO of dcbel. “This funding positions our company to accelerate our growth and is a testament to the strength of our team, product and traction. We are proud of bringing to market a sustainable solution to accelerate the energy transition and give homeowners control over their energy.”

The dcbel r16 uses the AI to learn from a home’s historical energy consumption data to predict energy needs and secure the cleanest electricity at the lowest cost.

dcbel’s Orchestrate OS platform is open to third-party applications and allows customers to subscribe to multiple energy programmes provided by utilities, energy service providers, microgrids and virtual power plants (VPP) without having to install any additional equipment in their home. The Energy Station is able to trade and exchange energy on behalf of subscribers when it benefits them to do so, favouring both utilities and the prosumer.

The r16 Home Energy Station bidirectional EV charger is the first in a suite of products dcbel plans on releasing to help homeowners reduce everyday costs.

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