€3M funding boosts tibo energy's global smart grid expansion

tibo’s energy management software allows commercial and industrial companies to expand operations without expanding their grid capacity.
€3M funding boosts tibo energy's global smart grid expansion

Today Dutch startup tibo energy announced that it has closed €3 million in Seed funding to grow its team and focus on international expansion.

The demand for smart energy management is growing worldwide. Many commercial and industrial companies are responding to the limitation of national energy grids by increasing their ability to generate their own electricity on-site through a mix of assets like solar panels, heat pumps and batteries. 

Tibo energy has built energy management software, allowing commercial and industrial customers to electrify more easily while avoiding costly grid expansion. 

tibo’s software-only platform is powered by machine learning and gives companies control of smart energy networks. This allows them to de-risk their energy supply and transform it into a sustainable operating model. 

Complex modelling, simulation, and control become much simpler, allowing companies to create digital versions of their network to simulate scenarios and visualise a smarter grid. 

This means they can go electric and install renewable assets while avoiding costly grid expansion. 

tibo energy co-founder and CEO Remco Eikhout shared: 

“We are proud to have achieved this funding as a team.

Our software’s impact and commercial potential are huge, and we’re glad to have a pair of world-renowned investors who understand that potential and will help us drive it forward. We’re greatly looking forward to the future.”

SET Ventures led the round with participation from Speedinvest and tibo energy founding team members.

 Rene Savelsberg, co-founder and Partner of SET Ventures, shared: 

“The opportunity for tibo is huge.

We’ve seen the rate of electrification accelerate in recent years. 

Since 2019, 167 GW of distributed solar panels has been added to the energy mix, with the majority coming from installations at customers like those tibo is targeting. 

Their ability to turn energy assets into a local smart grid will enable these companies to electrify quicker and optimise for price and CO2 impact. Their easily deployable cutting-edge technology is a real game-changer.”

Lead image: tibo enegy. Photo: uncredited.

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