envelio successfully completes Series A financing round with eCAPITAL
December 12, 2019
eCAPITAL invests in energy grid digitization startup envelio. With the Intelligent Grid Platform (IGP), envelio offers distribution system operators a platform to digitize their energy grids and all related planning and operations processes. The existing shareholders Demeter and High-Tech Gründerfonds (HTGF) both also join this Series A financing round with significant additional investments. The total round amounts to six million Euros.
“Today’s energy grids are facing millions of new, renewable energy sources and flexible loads, creating a strong need for distribution system operators (DSOs) to digitize and automate grid planning and operation processes,” says Dr. Fabian Potratz, co-founder and CTO of envelio.
envelio’s IGP enables the distribution grid for the next phase of the energy transition with three major components. Firstly, IGP Data Quality automatically builds up digital twins of the real electricity infrastructure while at the same time identifying and correcting data errors and inconsistencies in grid data. With IGP Planning, traditionally time-consuming grid planning processes can be automated and accelerated from weeks to minutes. The IGP Operation apps provide forecasting, real-time monitoring and congestion management capabilities that help to successfully operate a smart grid.
Dr. Simon Koopmann, co-founder and CEO of envelio, adds: “In the last year, envelio has more than doubled its customer base. Next to large scale roll-outs with major German customers like Westnetz and E.DIS we also added several international customers like Enel, Iberdrola and EDP. This financing round will enable us to further drive and accelerate our international growth.”
With this financing round, envelio plans to ramp up its international presence to offer dedicated resources to customers, specifically in Europe, Asia as well as North and South America.
“As a specialized Investor in the energy sector, we are impressed by envelio’s successful modular platform approach. For grid operators, envelio provides customer value from day one and has since been very successful in creating a scalable business, where many other competitors struggle,” says Bernd Arkenau, Partner at eCAPITAL entrepreneurial Partners.
Yann Fiebig, Senior Investment Manager at High-Tech Gründerfonds adds: “We are very happy to see envelio’s strong traction since joining the company as a seed investor last year. envelio has been able to convert large roll-out contracts already and we are excited to further support the next expansion steps.”
envelio is a spin-off from RWTH Aachen University and provides the Intelligent Grid Platform to distribution system operators enabling the next phase of the energy transition. Grid planning and operation processes are digitized and automated by envelio’s IGP. This automation enables a faster and more cost-efficient integration of renewable generation and charging points for electric vehicles into the energy system. The core of envelio’s technology are optimization and machine learning algorithms based on the five PhD theses of the founders. envelio was founded in 2017 and has 44 employees now. envelio’s customers are German and international grid operators like Westnetz, E.DIS (both E.ON group), Enel, Iberdrola and EDP.
eCAPITAL is a venture capital firm that provides early to growth stage funding to technology companies in the fields of software & information technology, cybersecurity, industry 4.0, new materials and cleantech. Founded in 1999, eCAPITAL has a history of supporting entrepreneurs determined to build companies with lasting significance. Partnering with eCAPITAL means joining an international network of business leaders, entrepreneurs, technologists and potential partners. eCAPITAL is located in Germany and currently manages funds with over EUR 220 million under management.
Demeter (www.demeter-im.com) is a major European player in venture capital and private equity for the energy and ecological transition. Its funds invest from €1m to €30m to support companies in the sector at all stages of their development: innovative startups, small and mid-cap companies, as well as infrastructure projects. The Demeter team counts 40 people based in Paris, Lyon, Grenoble, Metz, Madrid, and Münster, manages €1bn and has completed 140 investments over 14 years.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 895.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 560 startups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemistry and life sciences.
To date, external investors have injected over EUR 2 billion into the HTGF portfolio via more than 1,400 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Capital, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.