Houston-based Artemis, previously operating as Monalee, secured $6 million in a funding round to expand its software platform for the distributed energy sector. The investment marks the company’s shift from a solar installation business to a software provider.
The round was co-led by Long Journey Ventures and Copec WIND Ventures. Additional participants included Ludlow Ventures, Shrug Capital, Coalition Operators, Plug and Play Ventures, FJ Labs, Tribeca Ventures, Palm Tree Crew, and Scott Banister.
The company aims to reduce the “soft costs” associated with residential solar and storage, which often include manual site design and fragmented financing approvals. Artemis claims its AI-driven system integrates design, sales, and embedded financing into a single workflow, reducing the time required to generate project quotes from several days to seconds.
“Installers shouldn’t need six tools and a week of back-and-forth to sell a project,” said Walid Halty, co-founder and chief executive officer of Artemis.
As part of the expansion, the company appointed Alexander Urban as chief financial officer. Urban joins from Shell Ventures, where he spent over a decade focused on energy transition investments and capital allocation.
The technology behind the platform was originally developed as an internal tool for the company’s own installation operations. After mapping national utility and permitting regulations, the firm transitioned the technology into a standalone operating system for third-party contractors.
According to company data, the software is being used by approximately 100 installers, including GoodLeap and Dynamic SLR. Users reported that the automation of design and compliance documentation resulted in lower software overhead and higher lead-to-contract conversion rates compared to legacy tools.
The funding will also facilitate international growth through a partnership with Copec, one of the largest energy companies in Latin America. Artemis is currently launching pilots in Chile and Colombia to digitize residential energy workflows for Copec’s network.
The $6 million in capital is earmarked for engineering and product development. The company is currently hiring full-stack engineers and AI researchers to further automate permitting and operations and maintenance (O&M) workflows for the U.S. and international markets.
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