Tallinn-based cleantech startup Gridio, which optimizes the charging of electric vehicles with renewable energy sources, has raised €2.4 million in a seed funding round led by Neokapital. The funding will enable the startup to expand its smart energy platform across Europe.
- Founded in 2018 by Konrad Hanschmidt and Sandor Liive, Gridio is a smart energy platform designed to optimize electric vehicle (EV) charging. The platform automatically charges EVs during the cheapest and cleanest energy periods, requiring no additional hardware.
- Gridio serves both individual users and businesses. Individuals can download the app, create an account, and connect their vehicle to enable smart charging. For businesses, Gridio offers API integration or a white-label solution to provide cost-efficient and sustainable charging options to their customers.
- To date, Gridio reports attracting 34,000 users, facilitating 1.2 million smart charging sessions, delivering 28 GWh of clean energy, and saving users a total of €1.5 million.
Details of the deal
- The seed round was led by Neokapital, an Estonian venture capital firm, with additional support from Encevo, a Luxembourg-based energy company, SmartCap, an Estonian VC, Renergy, and existing investors.
- Gridio plans to use the €2.4 million funding to expand its smart energy platform across Europe, enabling households to optimize energy use, reduce costs, and enhance renewable-powered electricity grids.
"This funding will enable us to expand our smart energy platform across Europe, helping households optimize energy use, reduce costs, and support the resilience of electricity grids powered by renewables," Cridio's team, commented on LinkedIn.
