Helsinki-based Synergi, which offers a software platform that optimizes energy use for households, utilities, and grid operators while facilitating participation in flexibility markets, has raised €2 million to expand into the Nordic and Central European markets and to grow its team.
- Founded in 2022 by Antti Hämmäinen and Harri Iisakka, Synergi develops a platform that connects households, utilities, and grid operators, enabling them to optimize energy use and participate in flexibility markets.
- The Synergi app allows consumers to find the best times to use electricity, saving costs and earning rewards for flexibility. It also helps utilities optimize energy use and leverage customer-owned assets, creating a seamless link between distributed energy resources, utilities, and flexibility markets.
"We want to help consumers and utilities benefit from providing flexibility to the grid. Previously, this was not possible. Soon, utilities can generate revenue from flexibility markets by aggregating the loads of customer-owned energy assets on the Synergi platform and providing their customers with the Synergi app as a turnkey solution," commented Antti Hämmäinen, CEO & Co-founder at Synergi.
- The startup claims that the app has helped thousands of European users save 50% on EV charging costs and 20% on heating costs each year.
Details of the deal
- The funding round was led by Greencode Ventures, a Helsinki-based venture capital firm that supports early-stage, digital-first green transition startups in Europe. New investor Vaens, also based in Helsinki, joined the round; it has a portfolio of 20 companies and boasts over ten successful exits.
“Energy flexibility is an untapped opportunity. Synergi´s business model has the potential to bring European consumers, utilities, and grid operators together to benefit all by balancing the grid and creating resilience for the whole system," Managing Partner at Greencode Ventures, Ines Bergmann-Nolting, stated.
- Existing investors Lifeline Ventures, APX, the first-cheque investor of Porsche and Axel Springer, and Wave Ventures also participated in the round.
- The startup plans to grow its team by hiring in engineering, sales, and marketing, and to expand its operations into flexibility markets in Nordic and Central European countries.
