German software startup encentive has raised €6.3 million in a seed round led by global investor General Catalyst, alongside the company’s existing backers. With this round, encentive’s total capital raised has reached €9 million, as reported to Vestbee.
- Founded in 2020 by Daniel Ehnes, Torge Lahrsen, and Sascha Greve, Encentive develops an AI-driven energy management platform for industrial users. The platform optimizes electricity consumption so that companies use energy precisely when it is both green and cost-effective.
- At the core of encentive’s solution is its flexOn software, which serves as an intelligent control center. It coordinates energy flows bidirectionally with the availability of renewable energy both locally, at a company’s own site, and in the markets, while also making targeted use of existing storage and flexibility potential.
"Rising energy costs and mounting decarbonisation pressure are challenges faced by almost every industrial company today. Businesses unable to flexibly and intelligently manage their energy flows and adapt to the volatility and fluctuating prices of renewables are already putting their competitiveness at risk. Our solution enables companies to harness the economic potential of flexibility without interfering with existing processes," the company's COO, Torge Lahrsen, explains.
- encentive’s technology is already in use at Metro Logistics, Dachser, and Klingele.
- General Catalyst led the seed round, with participation from Summiteer, SIVentures, Vireo Ventures, HelloWorld, as well as Stefan Müller and Bernhard Niesner.
- The new funding will be used to grow encentive’s team with AI and engineering experts and to further develop its platform to connect with more industrial assets.
