Dutch Startup tibo energy Secures €3 Million in Seed Funding. SET Ventures led the round with participation from Speedinvest and members of the tibo energy founding team. tibo allows commercial and industrial customers to electrify more easily while avoiding costly grid expansion.
This round of funding will be used by tibo energy to expand its sales, marketing, and development teams to enhance the product and drive national and international growth.
The demand for smart energy management is growing worldwide. Many commercial and industrial (C&I) companies are responding to the limitation of national energy grids by increasing their ability to generate electricity on-site via assets like solar panels, heat pumps, and batteries.
However, as the amount of these assets increases, the energy system becomes more difficult to manage, often becoming so complex that many companies hire energy consultants to help manage it.
Though these consultants often have the same knowledge of the customer, they lack the applications to provide an efficient and cost-effective solution from a “system” perspective.
But tibo energy has built energy management software to solve these issues. With tibo’s solution, every energy professional can simulate complex systems, and every installation technical company can create an energy hub.
tibo energy co-founder and CEO, Remco Eikhout said, “We are proud to have achieved this funding as a team. The impact and commercial potential of our software is huge, and we’re glad to have a pair of world-renowned investors on board who understand that potential and will help us drive it forward. We’re greatly looking forward to the future,”.
Rene Savelsberg, co-founder and Partner of SET Ventures said, “The opportunity for tibo is huge, We’ve seen the rate of electrification accelerate in recent years. Since 2019, 167 GW of distributed solar panels has been added to the energy mix, with the majority coming from installations at C&I customers like those tibo is targeting. Their ability to turn energy assets into a local smart grid will enable these companies to electrify quicker and optimise for price and CO2 impact. Their easily deployable cutting-edge technology is a real game-changer.”
Namratha Kothapalli, Principal at Speedinvest. said, “Since the soft product launch in 2023, the strong demand for tibo’s product underscores the pressing need for tackling grid congestion and (em)powering smarter grids. We’ve been very impressed by Remco Eikhout and the team’s entrepreneurial, energy, and technical backgrounds. Coupled with their unique market insights, the company is positioned as a key player in advancing toward a more resilient and sustainable energy future,”.
About tibo energy
tibo energy goal is to make sure future generations have a sustainable future. They create a cleaner planet by lowering their environmental impact through creative energy solutions. With the necessary skills, abilities, and knowledge, their motivated team collaborates to accomplish this aim.