June Energy, a Belgium-based startup that optimises electricity consumption for private households and SMEs, has secured a €2.1 million funding round from a group of angel investors. The startup is planning to use the money to further develop its SME offering to allow monitoring of multiple locations
Founded in 2016 in Antwerp, June Energy constantly monitors its users' energy consumption with smart meter readers and automatically switches the household to a more cost-efficient power supplier. Like the Swedish-Norwegian startup Tibber, which we covered recently, June Energy makes these switches as often as necessary.
In the future, June Energy plans to get more involved in the sustainable energy transition.
“As we measure and analyse the consumption of our customers 24/7, we can accurately calculate how many alternative energy sources—such as solar panels—they need to provide for their own energy needs,” said June Energy co-founder Vincent De Dobbeleer. “Our algorithms will also continuously monitor whether these solar panels work optimally and calculate how much energy you can store for times when the sun is not shining. In the future, we will also be able to calculate how much energy you can resell. Your electricity bill will then not just drop to zero, you will even earn money.”
Later this year, the startup plans to start offering its customers solar panels through partnerships with installation companies.