envelio successfully completes Series A financing round with eCAPITALeCAPITAL NEWS
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.
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.
Dr. Simon Koopmann, Co-founder and CEO of envelio
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.
Dr. Simon Koopmann
50933 Köln, Germany
eCAPITAL ENTREPRENEURIAL PARTNERS AG
48155 Münster, Germany
Tel.: +49 251 70 37 67 0