SmartCap Green Fund participated in Gridio's €2.4 million seed funding round
The new funding round will push the scale of automated optimization of energy usage for EVs and other energy devices to ease the load on energy grids with smart charging schedules, ensuring stability and efficiency.
“Already today, we have tens of millions of electric cars, batteries and solar panels that are active on the grid, but are not used when it makes most sense for the consumer and the grid,” said Konrad Hanschmidt, Co-founder and CEO of Gridio. “The market incentives are there, but the complexity of energy markets for ordinary consumers, combined with a patchwork of different devices, brands and apps, means that this huge opportunity is simply left under-utilised.”
According to Gridio, high and volatile electricity prices are causing alarm across economies, particularly in Europe, where the rapid adoption of renewable energy is outpacing the energy market’s ability for price stability and energy security. At the same time, millions of consumers are investing in connected energy devices such as electric vehicles, solar panels, batteries, and heat pumps.
Gridio is excited to welcome three new major investors to its shareholder group in Neokapital, an Estonian Family office with deep roots in bioenergy; Encevo, a leading and sustainable energy player in Luxembourg and the Greater Region; and Smartcap, a fund investing in Estonian Greentech innovators, backed by the Estonian Government and funded by the NN.
“We are backing Gridio, as the success of its ambitious roadmap would not only result in a transformed and more cost-effective energy system but also unlock further potential for other clean energy solutions,” added Sille Pettai, CEO and Fund Manager at SmartCap.
With the new funding, Gridio will roll out its smart charging product across Europe and expand its plug-and-play platform for energy providers.
“Our mission is to simplify energy decisions for everyone—consumers and providers alike,” said Konrad Hanschmidt. “This funding allows us to bring our vision to life at scale, helping millions of households and energy providers benefit for being actively part of the energy markets, with no hassle.”Gridio has more than 30,000 users of its service across mobile apps and aims to quadruple that by next year.
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