Stockholm-based energy management tool Greenely has raised €8 million in a Series A funding round led by Belgian investment company Korys, with the participation from Luminar Ventures.
- Greenely was founded in 2014 by Tanmoy Bari and Fredrik Hagblom. The company provides customers with an energy management platform, residential virtual power plant (VPP) technology, and an hourly electricity rate. Greenely's platform enables users to effectively control their energy consumption and enhance the overall stability of the power system.
- Since its inception, Greenely has raised more than €7 million, according to Crunchbase data.
- This time, the leading investor was Kory. It is a Belgian investment company that focuses on conscious consumers, healthy living, and energy transition. It has more than 25 companies in its portfolio and a ticket size ranging from €2 million to €30 million.
“Greenely is a remarkable company, willing to revolutionize the way households consume electricity and positively contribute to a net-zero future, exemplifying the type of impactful company we want to support,” said Brieuc de Hults, Investment Director, and Quentin Dupont, Investment Manager at Korys.
- With the fresh funding, Greenely is going to expand to Norway and Finland, in addition to its well-established position in Sweden, with the goal of reaching a combined market of around 10 million households
