Damao Technology raises $30M Series B for AI energy models

What's the deal? Damao Technology, a Chinese startup building energy-focused large language models and generative AI virtual power plants, has raised US$27.5M (roughly $30 million) in a Series B round, announced in September 2026.

What's the endgame? The company develops a fully self-built energy large model platform, branded Energy MaaS, using artificial general intelligence (AGI) technology. It also builds AI-powered virtual power plant applications on top of that platform.

The signal: The round reflects growing investor interest in startups applying generative AI to energy infrastructure, an area where model-driven platforms are being pitched as tools to manage and optimise distributed power.

Image credit: Generated with Gemini