Renewable energy startup Cable raises $4m from Systemiq Capital, Black Nova VC
Dom Reardon thinks batteries can finally deliver small businesses the cheap power they miss out on.
Australia’s rooftop solar boom delivered cheaper power bills to millions of homeowners. Small businesses largely missed out on the benefits of a distributed grid. A Sydney startup thinks batteries can fix that.
Cable, founded by Dom Reardon, has raised $4 million in pre-seed funding from UK climate fund Systemiq Capital, Black Nova VC, and a group of angels from the startup, venture capital and infrastructure sectors.
Small businesses with electricity bills between $5,000 and $50,000 are Cable’s target.
“Going distributed for the customers who can is an absolute no-brainer,” Reardon said. “But it was clear that customers couldn’t achieve the full potential of these systems without better retail plans — and particularly small business missed out. They’re horrendously underserved in a traditional retail sense.”
Large commercial customers get bespoke quotes and tight margins; mass-market residential gets attention. Small business ends up stuck in the middle because of structural barriers — rooftop solar requires suitable roof space, capital for hardware, and a willing landlord.
