Funding

trawa funding news – Renewable Energy Supplier trawa Raises €10 Million in Seed Funding

May 16, 2024 | By Startup Rise EU

Berlin-based renewable energy supplier trawa, which simplifies energy purchasing and management for small and medium-sized enterprises (SME) through its AI solution, raises €10 million in seed funding , led by Balderton Capital. Along with previous investors TinyVC, Magnetic, and Speedinvest, German climate tech investor AENU also took part in the round.

Berlin-based renewable energy supplier trawa, which simplifies energy purchasing and management for small and medium-sized enterprises (SME) through its AI solution, raises €10 million in seed funding , led by Balderton Capital. Along with previous investors TinyVC, Magnetic, and Speedinvest, German climate tech investor AENU also took part in the round.

The money will be utilised to develop Trawa's ecosystem of products and advance its AI technology, which will enable clients to revolutionise the way they buy and utilise energy. With this most recent capital offering, Trawa has now raised almost €12 million in total.

Electricity costs in Europe are usually two to three times higher than in the US due to the continuous energy crisis, which has a negative effect on business. The demand for manufacturing in the Eurozone has been declining for the past two years, and it became worse in April. German industry has been worst hit; a 1.5% drop in production is predicted. Significant variations in energy prices, which complicate long-term planning, have compelled the industry to reduce output.

Read also - AimHi Earth funding news – Climate and Sustainability Training Provider AimHi Earth secures £1Million in Funding

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Businesses are becoming more and more interested in converting to green energy sources, but many are discouraged by the process's complexity, potential problems with supply security, and mistrust of products branded as "green energy." With technology that makes green solutions cheap, trawa was developed to offer SMEs confidence in making the shift and to reclaim control over their power purchases.

trawa co-founder and CEO David Budde commented: “Businesses face an immense challenge in navigating a volatile energy market. trawa uses its technology to help small and medium-sized companies secure not only more affordable, but also renewable energy. This financing will enable trawa to further build out our ecosystem platform to supply businesses with a solution that automatically manages and optimizes their energy costs, consumption and emissions.”

The infrastructure and procurement of modern energy is challenging for SMEs, who are typically ill-equipped to handle the unstable and complex energy markets. Rather, they usually purchase power at a set price, which is 20% more costly than organised procurement on average.

The conflict in Ukraine led to an energy crisis and skyrocketing prices throughout Europe, especially in Germany, which completely altered the energy markets. SMEs can now manage renewable power sources, obtain energy contracts, compare continuously fluctuating electricity rates, and other tasks without having to worry about them when they focus on their core business activities thanks to trawa's innovative solution.

Trawa's management software not only enhances energy procurement but also lets businesses optimise when and how they use electricity. Businesses may also use it to automatically adjust their usage to times of the day when power costs are lower. It provides SMEs with a real-time snapshot of their energy use, generation, and cost data.

The conflict in Ukraine led to an energy crisis and skyrocketing prices throughout Europe, especially in Germany, which completely altered the energy markets. SMEs can now manage renewable power sources, obtain energy contracts, compare continuously fluctuating electricity rates, and other tasks without having to worry about them when they focus on their core business activities thanks to trawa's innovative solution.

Trawa's management software not only enhances energy procurement but also lets businesses optimise when and how they use electricity. Businesses may also use it to automatically adjust their usage to times of the day when power costs are lower. It provides SMEs with a real-time snapshot of their energy use, generation, and cost data.

James Wise, General Partner at Balderton, said: “In the face of the climate crisis and volatile energy pricing market, renewable energy is a way for companies to take control of their energy security. trawa offers companies a bespoke solution for energy procurement, shielding SMEs from price explosions, helping them make the most of investments in assets like smart batteries and solar power and providing granular data for ESG reporting. We’re excited to be working with David, Max and Robert, who have built a fast-growing business, addressing a pressing challenge faced by SMEs today.”

Philip Specht, Partner at AENU, added: “Cost and sustainability targets are influencing the energy procurement process of European companies. Trawa is uniquely positioned to serve both targets and become the one-stop-shop for SMEs’ green energy needs, from securing renewable electricity to managing consumption and distributed energy resources.”/p>

About trawa

trawa! their goal is to enable businesses of all kinds to obtain high-quality, reasonably priced green power. As a full-service supplier for the most efficient acquisition of green power, they assist small and medium-sized businesses in obtaining their electricity in a sustainable and economical manner, just like big businesses can.

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