Smart Grid startup envelio raises 1 million Euro from High-Tech Gründerfonds and Demeter
May 28, 2018
The High-Tech Gründerfonds (HTGF) and Demeter invest one million Euro in the startup envelio. envelio provides the Intelligent Grid Platform (IGP) to grid operators for the next phase of the energy transition. Grid planning and operation processes are digitalized 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 raised capital will be used to advance the further development of the IGP and to accelerate envelio’s growth in Germany and the rest of Europe.
Enabling the energy transition by creating digital grids
Millions of distributed energy resources and new loads, e.g. for electric mobility, have to be integrated into the energy grids for the next phase of the energy transition. “The massive changes in the energy grids can’t be handled without a scalable software platform that can deal with those large amounts of data” explains envelio Co-Founder and CEO Dr. Simon Koopmann.
envelio provides a digital and highly automated grid operating system called Intelligent Grid Platform (IGP) as a solution to this challenge. With the IGP, the efficiency of grid planning and operation processes is increased by optimization and machine learning algorithms to support engineers working for grid operators. envelio’s technology is based on five PhD theses that the founders have completed at RWTH Aachen University in one of Europe’s leading energy research cluster. „We can accelerate the technical evaluation processes for new connections of distributed renewable generators or charging points from two to eight weeks today to less than thirty seconds with our IGP” adds Simon Koopmann to underline the potential of envelio’s platform.
Growth in Germany and Europe
envelio started with a pilot phase together with several German distribution system operators (DSOs) shortly after the company was founded in April 2017. Among its customers today are Westnetz of the innogy group, E.DIS (subsidiary of E.ON) and several utilities in German cities. The 1 million Euro investment will be used to grow envelio’s market presence in Germany based on the existing references. “As an investor we are convinced that envelio provides a crucial technology for a successful energy transition. The demand for the solution can be expected to grow in the next years. We are excited to support envelio’s next steps”, says Senior Investment Manager Yann Fiebig from HTGF. Maureen Le Baud, Investment Director at Demeter adds: „At an international level, there are many DSOs in other countries that are facing similar challenges as Germany. With our international network we want to support envelio in its European expansion”.
envelio is a spin-off from RWTH Aachen University and provides the Intelligent Grid Platform to distribution system operators for the next phase of the energy transition. Grid planning and operation processes are digitalized 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 now has 15 employees. Among envelio’s customers are e.g. Westnetz and E.DIS.
Demeter is a major European player in private equity for the ecological and energy transition. Its funds invest from €500k to €30m to support companies in this sector at all stages of their development: innovative startups, fast-growing SMEs and midcaps companies as well as infrastructure projects. Demeter’s team, which includes 33 people based in Paris, Grenoble, Metz and Madrid, manages €1bn and has completed 120 investments over 12 years.
Launched in 2005, High-Tech Gründerfonds (HTGF) is a powerful engine that drives the success of high-tech start-ups. Armed with expertise, entrepreneurial spirit and passion, the experienced team of investment managers and start-up experts guide top companies on their journey from launch to success. HTGF focuses on high-potential start-ups active in the sectors of software, media, internet, hardware, energy and automation, life sciences (medical technology, diagnostics, biotechnology) and chemicals. With EUR 886 million in investment volume across three funds (EUR 272 million in HTGF I, EUR 304 million in HTGF II, and a targeted volume of EUR 310 million for HTGF III) and an international network of partners, HTGF has already financed close to 500 start-ups.
This group also includes a number of success stories, such as Mister Spex, Rigontec, 6Wunderkinder, Next Kraftwerke and Cumulocity, as well as Juniqe, an online shop for art enthusiasts. To date, external investors have injected over EUR 1.5 billion into the HTGF portfolio via more than 1,200 follow-on financing rounds. HTGF has also successfully sold interests in more than 90 companies. Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Banking Group, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, B.Braun, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, 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 and WACKER.