by Camila Acevedo
Edgecom Energy, a client of Altitude Accelerator, announced their recent seed funding raise of $2.5 million led by GreenSky Ventures, with participation from ABB Electrification Ventures. This milestone is a testament to the company’s innovative approach to energy management and its mission to empower large energy consumers to optimize usage through more sustainable solutions.
Edgecom Energy helps large energy consumers to optimize their energy usage by leveraging IoT and AI Solutions. Their platform integrates energy data, providing insights and enables customers to manage energy more efficiently without needing an expert on-site. The company has also enhanced their platform with a “virtual energy manager” through AI and machine learning, allowing them to analyze and optimize energy use at scale across multiple facilities globally.
Founded in 2016, by Behdad Bahrami, Edgecom was born from Bahrami’s vision of energy management as a controllable cost that companies could improve. Motivated by an inherited entrepreneurial spirit, he saw an opportunity to launch his own company. “I initially thought I needed to be 60-70% prepared, but when I began Edgecome Energy, I was only 40% prepared,” he recalls, motivating other founders to start before they feel fully ready. The company started as a consulting firm, but Bahrami envisioned a bigger impact and realized consulting wasn’t very scalable. A key question arose: “How do we make it easier for whoever is already on-site to manage their energy without needing an energy expert in the facility?”
A pivotal moment in the company’s evolution came when Baharami attended an Earth Day conference, where he met a professor who was discussing the future of energy, focusing on AI, machine learning and data. Inspired, Bahrami approached the professor and eventually was introduced to some of his students. This led Bahrami to meet his co-founder, a PhD student specializing in power systems and energy microgrid optimization. After a few coffees and small projects to test his skills, Bahrami realized they were perfectly aligned, not only in vision, but also in skill set.
“It was a match made in heaven,” said Bahrami. “He was the software guy; he knew how to build it.” This partnership would lead to the company’s pivot from consulting to developing energy management software.
Bahrami’s journey underscores an important lesson as he asserts, “Take as many shots as you can and get on the plane; be brave, take that meeting, go to that event “. He stresses the importance of seizing opportunities and embracing the unexpected. He highlights the importance of being open to pivoting when needed and advises entrepreneurs to be “firm on the vision but flexible on the strategy,” and iterate quickly as the business evolves.
Finding and retaining talent can be a challenge and Bahrami shared his approach: “It’s about painting a vision and a story of where the company is going to go” he said. He also noted that after raising their second round and receiving approval from a major player like ABB, hiring became easier, thanks to the “stamp of credibility” helped boost their appeal to top talent.
As he navigated through the ups and downs of growing a startup, he began to realize the importance of scaling the business faster to stay competitive. His shift in mindset, from building a self-sustaining company to embracing venture capital, marked a turning point. In early 2023, with the growing market competition, he recognized that raising money was no longer just an option, but a necessity, triggering the courage to pivot and seek the investment that would eventually propel Edgecom Energy to the next level.
Edgecom Energy’s impressive track record includes partnerships with some of North America’s largest energy consumers, such as Alamo School, Dr. Okurse, Sobeys, Metrolinx, and Cadillac Fairview. At the end of 2024, they achieved a record capacity in the Ontario IESO 2024 Capacity Auction, securing 59.3MW for the Summer 2025 Period and 60.7MW for the Winter 2025/2026 Period, contributing to a more reliable and sustainable energy grid in Ontario.
As Edgecom Energy continues to grow, Bahrami’s journey serves as an inspiration to entrepreneurs who understand all too well the complexities of scaling. His willingness to pivot and adapt to changing market dynamics and understand strategically when he required venture capital has positioned the company as an emerging leader in sustainable energy management.
Are you a founder looking to scale? At Altitude Accelerator, we provide opportunities to connect with investors, gain expert mentorship and access valuable resources. Learn more about our programs.
