Funding

[Funding alert] Göteborg-based Home Energy Platform Eliq Software Company Secures €10M in Funding

Nov 22, 2023 | By Startup Rise EU

Göteborg-based home energy platform Eliq software company secures €10M in funding. The funding round combines capital from existing investor Inven Capital with new investors, Axpo and Valkea (Fortum’s investment arm for early-stage companies).

Göteborg-based home energy platform Eliq software company secures €10M in funding. The funding round combines capital from existing investor Inven Capital with new investors, Axpo and Valkea (Fortum’s investment arm for early-stage companies).

Axpo and Valkea are existing CVCs of Eliq’s current customers. Along with additional debt financing, this investment is focused on expanding Eliq’s home energy efficiency platform across Europe.

Read also - Visual AI Company SeeChange Technologies Secures £8M in Series A Round Funding

Eliq, a Home Energy Efficiency platform, empowers utilities, banks, and smart home providers to provide customers with energy data to make smarter, more sustainable decisions in household energy usage, ultimately reducing their carbon footprint.

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Håkan Ludvigson, CEO and co-founder of Eliq said, “We need to talk about Open Energy Data, “We want to empower 1 billion individuals to be part of the home energy transition for a greener and more affordable energy future. We see immense potential in the wealth of energy data at our disposal, and with the transformative force of digitalisation, along with the recent EU directive underlining the importance of this, we’re changing the way we understand home energy usage.”

This recent funding brings Eliq’s total funding since its inception to €19 million, enabling the company to aggressively expand its sales and marketing efforts while accelerating product development. There are no anticipated changes to the board.

Read also - Floreon Secures £2M Series A in Funding

Petr Míkovec, Managing Director, Inven Capital said, “Since we invested, Eliq has grown into a European wide API-energy platform with 10 million contracted end consumers of businesses such as top European utilities, banks and global smart home providers and is managing 100bn+ energy data points. This most recent investment will be used to roll out the platform within the already contracted corporate customers, expand further and therefore capture hundreds of millions of end users across multiple verticals and creating a huge impact in terms of significant reduction of energy costs and carbon emissions.”

This financing round builds on an exceptional year for Eliq, marked by a growing list of clients, product- and market momentum in the rapidly changing European energy landscape.

About Eliq

Eliq is driven by the purpose of making sense of the world’s energy data to enable businesses to create sustainable living and financial empowerment for customers.

Read also - London-based TRIVER Secures further €22.9 Million in Funding

Founded in 2016 by energy experts and software entrepreneurs, Eliq’s energy intelligence platform focuses on home energy efficiency, expediting the transition towards more sustainable home energy use by making sense of energy data.

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