Electron secures £4m from East Innovate and others to expand internationally
The funding round was led by East Innovate to support team growth and international expansion.
Electron provides marketplace software designed to manage flexibility and distributed electricity networks. The firm builds configurable platforms that help operators optimise variable renewable power.
London-based energy software provider Electron has secured £4m in fresh funding to fuel its expansion across domestic and international markets. The investment was led by East Innovate, with additional backing from Riverstone, Nesta, and One Planet Capital, alongside advisory support from Mountside Ventures.
The capital will be directed towards team expansion, product development, and growing the company footprint in Europe and North America. Electron operates a configurable market platform called ElectronConnect, which helps network operators and energy providers coordinate distributed power resources and manage grid congestion.
From the founder
"We believe that time and location-based markets for energy and flexibility are foundational to the fastest, cleanest path to Net Zero energy. But, when Electron started developing these markets six years ago, the policies, business models and technologies required to support such markets were still unclear."
Jo-Jo Hubbard
Chief Executive Officer at Electron
Investor perspective
"We are delighted to back the Electron team in their mission to drive the adoption of flexibility markets at scale. We are deeply cognisant of the scale of the opportunity for global flexibility markets, especially in the context of an increasing variable supply of renewables; volatile energy prices; and ongoing cost of living crisis. Electron’s superior trading technology and software-first solution has the potential to build and maintain the leading position in this rapidly growing market."
Rory Scott Russell
investor, East Innovate
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets