Greenely, the Swedish energy tech startup, has recently closed an €8 million Series A funding round with the aim of expanding its energy management platform beyond its home market and into neighboring Nordic countries. With this funding, the company plans to provide its freemium energy consumption analytics and optimization services to a wider customer base.
Currently, Greenely serves approximately 200,000 households in Sweden, offering energy optimization services that help customers achieve significant savings on their electricity consumption. By utilizing smart charging for electric vehicles and reducing energy demand on the grid through automated optimization, Greenely allows its customers to take advantage of lower energy prices and access government payouts.
While these energy optimization services have been exclusive to paying customers, Greenely intends to decouple this requirement due to new European legislation that is expected to be implemented by the end of this year. This move will enable more households to benefit from Greenely’s services and make informed decisions regarding their energy consumption.
In addition to its optimization services, Greenely also provides the option for customers to install a home battery, such as the Pixii Home, which allows them to store energy for later use. This feature empowers households to adapt to changes in wholesale electricity prices and further optimize their energy usage.
With the successful funding round, Greenely is poised to accelerate the energy transition in the Nordic region, making energy management more accessible and sustainable for a broader audience.