Stockholm-based energytech startup Elvy has secured €500 million in funding, backed by Scayl, a Swedish debt‑funding platform, alongside an undisclosed banking partner.
- Elvy, founded in 2023 by Johan Outinen, Fabian Linzberger, and David Wedar, develops integrated home-energy systems that combine solar panels, heat pumps, and battery storage into a single subscription-based service.
- The company uses AI to analyze each home, taking into account microclimate data, building characteristics, and historical energy use, to design and install a customized system. Once in place, Elvy operates and maintains the equipment for the duration of the contract, providing heating, hot water, and a set portion of household electricity at a fixed monthly rate.
- The subscription model, based on operational leasing, allows homeowners to access modern energy technology without upfront costs while Elvy oversees performance, maintenance, and long-term operation.
Details of the deal
- With the fresh capital, the firm will expand its subscription-based home energy packages, scale installations across Sweden, and boost its capacity to serve up to 15,000 new customers.
