As per ESG Today, New York-based Paces offers a software solution for renewable infrastructure development companies that can help them identify the best spots for installing the respective projects. The software tool can help companies identify suitable locations based on permitting and risk-free environments quickly, reducing the usual time from "months to minutes".

The recent funding round will help the company's team of experts improve their platform, as well as the data collecting software, while also expanding the company's presence across the US.

James McWalter, Co-Founder and CEO of Paces, said that "Paces is committed to maximizing the climate benefits of every piece of land. By expanding our capabilities to accelerate additional components of the due diligence process and serving new sectors like EV charging and data centers, we’re taking a significant step towards realizing this goal. This Series A funding will fuel our growth and impact, allowing us to enhance our platform and support the entire clean energy infrastructure ecosystem."

Navitas Capital led the 11 million USD round, which saw participation from companies such as Suffolk Technologies and MCJ Collective.