Dutch startup tibo energy has announced the closing of a €3 million seed funding to grow its team and expand internationally. The investment was led by SET Ventures, with participation from Austrian VC firm Speedinvest.
- Founded in 2022, tibo energy develops energy management software powered by machine learning. It gives commercial and industrial customers companies control of smart energy networks, allows them to de-risk their energy supply, and transforms it into a sustainable operating model.
- In addition, thanks to the software, complex modelling, simulation, and control become much simpler, allowing companies to create digital versions of their network to simulate scenarios and visualize a smarter grid.
The investment details:
- Amsterdam-based SET Ventures led the current round. The firm invests in digital technology for a carbon-free energy system by supporting founders with capital, community, and insights.
- Speedinvest, an early-stage venture capital firm with more than €1 billion AuM and over 40 investors based in Berlin, London, Munich, Paris, and Vienna, also joined the round.
Since the soft product launch in 2023, the strong demand for tibo’s product underscores the pressing need for tackling grid congestion and (em)powering smarter grids. We’ve been very impressed by Remco Eikhout and the team’s entrepreneurial, energy, and technical backgrounds. Coupled with their unique market insights, the company is positioned as a key player in advancing toward a more resilient and sustainable future of energy,
Namratha Kothapalli, Principal at Speedinvest, says.
- tibo energy will use the funds to expand its sales, marketing, and development teams in order to enhance the product and drive national and international growth.
