Funding

epilot funding news – German-based epilot Secures €10Million in Funding

Jul 10, 2024 | By Startup Rise EU

epilot, a platform that transforming the energy sector with its cloud-based software, has raised €10 million from Expedition Growth Capital, a software specialist growth equity firm, with offices in London and Boston, which backed headless CMS Kontent.ai. Working in the green energy sector, we saw UK-based Heatio and Hometree and Berlin-based Cloover raise investments.

epilot, a platform that transforming the energy sector with its cloud-based software, has raised €10 million from Expedition Growth Capital, a software specialist growth equity firm, with offices in London and Boston, which backed headless CMS Kontent.ai. Working in the green energy sector, they saw UK-based Heatio and Hometree and Berlin-based Cloover raise investments.

SUMMARY

  • epilot, a platform that transforming the energy sector with its cloud-based software, has raised €10 million funding.
  • With the additional capital, epilot will be able to grow its staff of roughly 100 people, especially the product engineering team, in order to create new products and solutions for the platform and enhance its artificial intelligence capabilities.

With the additional capital, epilot will be able to grow its staff of roughly 100 people, especially the product engineering team, in order to create new products and solutions for the platform and enhance its artificial intelligence capabilities.

Will Sheldon, Partner at Expedition Growth Capital, said: “We are thrilled to partner with epilot’s passionate team of experts and visionaries. The energy industry is now embracing digital transformation along with the green transition and epilot’s strong and efficient growth is a testament to the value that sophisticated customer organisations are seeing.”

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Outdated, legacy IT systems are preventing utilities and grid operators from supporting the move to renewable energy. Utilities that use outdated software are unable to keep up with the complexity of several product categories in order to provide comprehensive customer service. Surges in grid connections are also making it difficult for grid operators to handle the extra burden.

At a time when temperatures across Europe are at record highs and the effects of climate change, including extensive flooding, are being felt more than ever, this is impeding the transition to renewable energy.

Read also - Phyron funding news- Stockholm-based Phyron Secures €10Million in Series B Round Funding

The company claims that users can lessen their need on rigid, compartmentalised solutions like antiquated CRM systems and Microsoft Excel by utilising epilot. In a few of weeks, projects that would typically take 18 to 24 months to complete can be finished. The significance of epilot is demonstrated by its remarkable expansion, which has seen it serve over 150 clients, including Mainzer Netze, DEW21, badenova, and enercity.

Michel Nicolai, CEO & Co-Founder of epilot, said: “Our mission at epilot is to accelerate the energy transition. Whilst we didn’t need to raise this funding as we have been growing sustainably, today’s announcement is a major milestone on our journey and will enable us to execute even faster on our platform roadmap and expansion plans. We are excited to welcome Expedition as our growth investor based on their thesis in our industry and deep experience in supporting vertically focused SaaS companies in achieving scalability.”

About epilot

epilot was established in 2017 in Cologne by Michel Nicolai, Szilard Toth, and Rolf Benken with the goal of providing the software necessary to facilitate the switch to green energy. Utilising it's, utilities may boost productivity when managing consumer inquiries and installation businesses by standardising and automating sales processes for new renewable energy products.

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