ENEIDA.IO funding news – Coimbra-based ENEIDA.IO Raises €10.5 Million in Series B Round Funding

With the help of this additional capital, Eneida will be able to further its market leadership, quicken its R&D efforts, and expand its platform for business and operational analytics, all of which will help realise the ZEN vision.

Santander Alternative Investments and Junction Growth Investors led the round. Longtime backer Korys also upped their investment, and the founders of Eneida and HCapital also contributed more.

For Eneida, the Series B financing represents a significant turning point. The company is well-positioned to grow into new markets and solidify its leadership in low-voltage network operational analytics with this funding infusion. Through its ZEN initiative, it aims to establish sustainable, emission-free communities worldwide. This ambition will be further supported by the funds.

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The expansion of it in recent years demonstrates its technological strength. The company offers situational awareness, locates events and abnormalities, and allows low-voltage grid optimisation and management without expensive infrastructure improvements, thereby addressing difficulties encountered by grid operators and new energy players.

In order to promote cost-effectiveness and high-quality energy solutions, this strategy encourages the quick adoption of distributed energy assets including heat pumps, solar panels, EV chargers, and batteries located behind the metre.

Carlos Pina Teixeira, CEO at Eneida, said: “We are delighted to welcome Junction and Santander as our new shareholders, securing the Series B financing round. This operation also reflects the confidence and support of our investors, led by Korys, in our strategic direction. This capital infusion will fuel our efforts to provide exceptional value to our customers, drive innovation, and expand our market reach to make ZEN a reality for everyone.”

Brieuc de Hults, Investment Director at Korys, emphasized the importance of smart grid technologies in enabling a sustainable future, stating: “As a committed investor in energy transition, Korys recognizes the pivotal role that smart grid technologies play in enabling a sustainable future. Eneida’s innovative solutions align perfectly with our mission to accelerate the transition toward cleaner, more efficient energy systems.”

Dirk Dewals, Managing Partner at Junction, noted: “At Junction, we have identified grid enhancing technologies as one of our core focus areas helping to de-bottleneck the energy transition. Eneida fits perfectly into this grid-enhancing technology: they offer proven solutions to distribution grid operators to obtain a detailed real-time view complemented with active grid management tools.”

Santiago Gil, Head of VC ClimateTech at Santander Alternative Investments, highlighted the importance of optimizing electric grids for new clean technologies: “We are glad to support Eneida in its growth path. Making the electric grid fit for new clean technologies is critical to avoid congestion and electrical faults. With its combined solution, Eneida provides the analytical intelligence needed to enhance network optimization.”

About eneida.io

eneida.io has developed eneida DeepGrid®: an Operational Analytics platform that enables the operators that run the neighbourhood grid to sense, optimise and control it, so they can enable more electric vehicles connections, more solar panels in consumers’ roofs while reducing grid outages