Swedish software company Eliq has announced the securing of a €10 million in a growth round. The financing combines capital from existing investor Inven Capital with new investors, Axpo and Valkea, and will be spent for the startup’s further expansion.
- Founded in 2016, Eliq develops a home energy efficiency platform, that allows utilities, banks, smart home providers, and other businesses to offer their customers solutions to interpret energy data, provide guidance on energy-efficient usage, and facilitate upgrades and green financing. Eliq is currently active in 15 European countries with over 30 live customers.
“We want to empower 1 billion individuals to be part of the home energy transition for a greener and more affordable energy future. We see immense potential in the wealth of energy data at our disposal, and with the transformative force of digitalisation, along with the recent EU directive underlining the importance of this, we’re changing the way we understand home energy usage,”
Håkan Ludvigson, CEO and co-founder of Eliq commented.
- Eliq has already partnered with TotalEnergies, Schneider Electric, Fortum, and KBC. The startup also claims that its platform can achieve energy savings of up to 9%.
- The fresh financing round was supported by Inven Capital, Prague-based €500 million VC fund focused on later-stage climate tech investments in Europe & Israel. Since 2015, Inven Capital has invested in 17 companies including sonnen, Sunfire, tado, Driivz, Forto, and Woltair. New investors, Switzerland’s Axpo and Finland’s Valkea, that are existing CVCs of Eliq’s current customers, also joined it.
- The current funding brings Eliq’s total funding to €19 million, enabling the company to expand its sales and marketing efforts across Europe and to accelerate its product development.
