Veckta Raises $11M in Series A Funding Led by Origin Ventures

Veckta, a San Diego, CA-based provider of an onsite energy planning and procurement platform, has raised $11 million in a Series A funding round led by Origin Ventures.

The round also saw participation from Tech Square Ventures, VoLo Earth Ventures, Cove Fund, Catalyst by Wellstar, Engage, Emerald Bay Ventures, She’s Independent Investments, and Mobilize AI x Energy Ventures.

The funds will help the company expand its US team, products, partnerships and supplier network. It will also improve support for onsite energy systems and automate the analysis of additional revenue opportunities.

What is Veckta?

Veckta helps businesses and commercial property owners decide where onsite energy systems, such as solar panels and battery storage, can reduce electricity costs.

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Its platform analyses a property's address using more than 5,000 data points to recommend suitable energy systems and estimate their financial returns in under a minute.

The company also connects customers with prequalified suppliers through its marketplace. This allows businesses to compare proposals for the same project scope and make informed purchasing decisions.

How Much Funding Has Veckta Raised?

Veckta has raised $11 million in its latest Series A funding round. The source does not provide details of previous funding rounds or its total funding raised to date.

Who Invested in Veckta’s Series A?

The $11 million Series A round was led by Origin Ventures.

Other participating investors include:

• Tech Square Ventures
• VoLo Earth Ventures
• Cove Fund
• Catalyst by Wellstar
• Engage
• Emerald Bay Ventures
• She’s Independent Investments
• Mobilize AI x Energy Ventures

Why the Funding Matters

Veckta will use the funding to expand its US customer team, broaden its product offerings, strengthen partnerships, and grow its supplier network.

The company also plans to support the full lifecycle of onsite energy assets and automate the analysis of additional revenue opportunities from these systems.

Who founded Veckta?

Veckta was founded in 2019 by Gareth Evans, Calvin Fine, Dan Roberts, and Felipe Sarubbi. The company is headquartered in San Diego, California.

"The most dangerous decision a business can make about its energy is acceptance of the status quo," said Gareth Evans, CEO and co-founder of VECKTA. "Rates will continue to rise and the grid will continue to be constrained, making the imperative for businesses to find profitable solutions more acute.

"Onsite energy has become a capital allocation decision for large companies, and the market hasn't given them the information to make it with confidence," said Scott Stern, partner at Origin Ventures. "VECKTA built its business on the buyer's side — helping companies know what to build, where, and what it should cost before they go to market.

Market and Business Growth

Veckta's customers include Enterprise Mobility, Lithia & Driveway, Phillips Edison & Co., and Regency Centers. Its collaborative partners include JLL, Voltus, Leap and Cascade Energy.

The company analysed approximately 34,000 customer sites and found that 37% could support solar or battery storage projects with positive returns, representing $3.1 billion in potential project value. Veckta estimates this could grow to $12 billion within five years, with $52 billion in potential utility savings.

This year, customers contracted for onsite energy systems at 128 sites and paid 20% to 45% less than bids obtained independently. The fastest project progressed from its first assessment to a signed contract in nine weeks, compared with a typical timeline of 12 to 18 months.

What Happens Next?

Veckta plans to expand its customer team, product range, partnerships, and supplier network across the United States. It also aims to improve support throughout the lifecycle of onsite energy assets and automate the identification of additional revenue opportunities.

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