[Funding alert] Stockholm-based Fever Secures €10 Million in Seed Funding

Thursday 15, 2024 | By Startup Rise EU

Stockholm-based Fever secures €10 million in seed funding. General Catalyst led this round, with participation from prior investors La Famiglia and Norrsken VC.

Stockholm-based Fever secures €10 million in seed funding. General Catalyst led this round, with participation from prior investors La Famiglia and Norrsken VC.

The money will strengthen product development, quicken Fever's expansion goals, and broaden partnerships throughout Europe.

Read also - Helsinki-based Vapaus Secures €15 Million in a Debt Funding

By enabling the full potential of market participation, capacity modeling, orchestration, reporting, and settlements, Fever's cutting-edge API-centric platform further empowers energy asset installers and operators, including top utility companies, electric vehicle fleets, and battery energy storage operators, to run and monetize their own virtual power plants.

Klas Johansson, Founder and CEO of Fever said, “We’re thrilled that General Catalyst joins us on our mission to both accelerate the transition to a world powered by clean energy and to ensure that the European power grid remains secure and resilient,”.

Traditional grids are under pressure due to the fluctuation in energy generation and consumption that comes with the increase in renewable energy sources and electrification. While wind and solar power are essential to meeting our global emissions targets, sophisticated software orchestration and optimization are necessary for a robust system.

Read also - Copenhagen-based Go Autonomous Secures €10 Million in Series A Round Funding

By combining distributed energy assets with cutting-edge software and machine learning capabilities, Fever's platform improves grid resilience. With unparalleled precision, this all-inclusive platform anticipates, adjusts, and optimizes energy distribution, increasing grid flexibility and decreasing dependency on imported gas while simultaneously boosting energy efficiency.

Fabian Erici of Norrsken VC said: “From day one, the Fever team has impressed us with their clear impact-focus and swift product delivery—a true reflection of the urgency required to transform the power grid. This new fundraise is a clear testament to the team’s work and the strong momentum surrounding them. We’re excited to be along for the ride!”

With this funding, the company now has €11.6 million in total funding. The company's four founders have vast backgrounds creating scalable, reliable, and secure platforms.

Read also - Vilnius-based Axiology Secures €2 Million in Funding

While Jonatan Raber occupied key positions at Spotify for several years, Klas Johansson, Ron Stolero, and Ruben Flam were prominently involved in leading the Swedish fintech Zettle (previously iZettle), which was purchased by PayPal for $2.2 billion in 2018.

Genevieve Kinney, partner at General Catalyst said, “We see Fever as a key player transforming the global energy markets. The deep technical knowledge of the founding team, complemented by Niek and Holger’s leadership at some of the most consequential energy companies in Europe, reflects our belief in the power of radical collaboration, Our dedication to a clean energy future is fundamental to General Catalyst’s Global Resilience thesis, and we’re thrilled about our partnership with Fever to democratise the European energy market.”

Holger Lichtschläger, Managing Director and Founder of Global Experts-Energy Consulting with previous executive positions at E.ON and Uniper, and Niek den Hollander, former Chief Commercial Officer at Uniper and former Senior Vice President and Head of Vattenfall's Business Area Markets, will be joining Fever's Board of Directors concurrently with this financing.

Read also - Stockholm-based MANTLE Raises over €2.8 Million in Funding

About Fever

By combining a wide range of energy assets, The Power Platform, Utility companies, EV manufacturers, data centers, and power providers run their own virtual power plants using the Fevers platform.

Read also - Copenhagen-based Pluto.markets Secures €2.4 Million in Funding

Recommended Stories for You

story
News

German-based Octomind Secures $4.8 Million in Seed Funding

Startup Rise EU Tuesday 23, 2024

story
News

Dublin-based SynOx Therapeutics Secures $75Million in Series B Round Funding

Startup Rise EU Tuesday 23, 2024

story
News

Paris-based Zefir Secures €11Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Helsinki-based HappySignals Secures €12 Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Italian-based Lithium Lasers Secures €2 Million in Funding

Startup Rise EU Monday 22, 2024

story
News

[Funding alert] Munich-based Smart Reporting Secures €23 Million in Series C Round Funding

Startup Rise EU Monday 22, 2024