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25 juli 2019

Swedish Energy Startup, Greenely, Raises 2.5M Euro from Top Nordic VCs

Greenely, a mobile app that provides homeowners with information related to their energy use and consumption, as well as the ability to directly buy renewable electricity via the app, this week announced they have raised 2.5 million euro from some of the top venture capitalists in the greater Nordic region.

Completely software-based and accessible to anyone in Sweden for free, Greenely is determined to create a new world in which we are all in control of our energy consumption, as well as environmental impacts.

“When we met in college a few years ago, we pondered the future of energy consumption and realized that the individual could make a lasting impact on preserving this planet,” said Tanmoy Bari, CEO of Greenely. “The electric companies at the time were so private with their environmental impact reports, cost management, and energy behavior, that we thought to ourselves, what if we could create a completely new experience? That’s how Greenely was born.”

The seed financing by Luminar Ventures and byFounders will help Greenely to further grow the team, develop the product, and continue expansion from Sweden and beyond. Some of the more prominent names secured during the funding round include Christoffer Rutgersson, co-founder of Bambora.

“We have built Sweden’s largest consumer platform around energy, determined to make it the world’s largest. To succeed, we will aggressively recruit more talented individuals that are interested in shaping the future of our world,” said Bari.

Greenely is free to download, providing Swedish households full control over their energy use, regardless of the electric company that they use. With Greenely, users will receive an in-depth analysis of their electricity consumption based on Greenely’s database of consumption data, helping households to know where they fare for future improvements.

Additionally, Greenely app users can now purchase renewable electricity directly through the app, providing even more control over household energy consumption.

“We are very excited about this investment in Greenely. A talented and ambitious team, that attacks important global issues affecting people in their everyday lives. Greenely is using smart digital technology in an innovative and user-centric way. We look forward to working with the team to reshape the energy industry in the same way that Spotify has done with the music industry,” said Jacob Key, Luminar Venture’s Founding Partner.

Today, Sweden sits at the forefront of helping consumers gain control over their energy use and consumption. Greenely is hoping to work its way through Sweden, as well as foray into alternate countries that are in desperate need of a digitized energy solution.

Since launching, nearly 80,000 people have joined Greenely to start a new future of energy awareness.

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