Openvolt raises €1.5M Pre-Seed round for its innovative smart meter API

Remote startup Openvolt's smart meter API offers granular energy data to aid in carbon emissions reporting and building decarbonisation.
Openvolt raises €1.5M Pre-Seed round for its innovative smart meter API

Openvolt has developed a smart meter API to enable companies to accurately report carbon emissions, support property owners with the information needed to decarbonise their buildings and to enable ‘the growth of flexibility markets’. It is launching its Beta API, granting access to meter-level energy consumption data in the United Kingdom.

"We believe that combating climate change requires actionable data-driven solutions. Access to granular energy data is a missing component in achieving a sustainable future. With our API we are ultimately removing the financial, legal and technical barriers that prevent innovators from accessing this data. By abstracting away this complexity, we believe we can unlock innovation in energy management," says CEO of Openvolt ‍Dave Curran who founded the startup with Don O'Leary.

The remote startup, with British and Irish roots, has raised a Pre-seed round of €1.5 million. The round was led by Cavalry Ventures and included participation from Übermorgen Ventures. Funds fuel Openvolt’s recruitment drive to attain its commitment to secure European talent for key roles, in particular remote software engineers. 

"Openvolt's API represents a transformative leap akin to what open banking ignited in the financial sector. Just as open banking revolutionised how we manage and access financial data, Openvolt's API can unlock a wealth of possibilities for fresh energy management solutions and fuel the accelerated growth of new ventures in the sector," says Claude Ritter, Managing Partner at Cavalry Ventures. 

Lead image: Openvolt's Dave Curran and Don O’Leary (left to right). Photo: Uncredited.

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.