Granular Energy raises €7.5m in seed funding to enhance transparency in the green energy sector
The seed round was led by Norrsken VC to help expand the company software for tracking renewable energy sources.
≈ £6.5M at €1 = £0.8668 on 2 Oct 2023
Granular Energy provides software solutions for utilities and energy buyers to track and manage clean energy procurement on an hourly basis.
London-based software provider Granular Energy has raised €7.5m in a seed funding round. The investment was led by Norrsken VC, with participation from All Iron Ventures, Box Group, Valo Ventures, Seedcamp, Revent, and Powerhouse Ventures.
The company provides digital tools for utilities, energy managers, and large buyers to manage clean energy certificates and track power sources on an hourly basis. The fresh capital will be deployed to enhance procurement transparency and direct consumer spending toward clean energy generation when and where it is most required.
The round follows growing demand for greater accountability in the green energy market, where current certificate systems often obscure the true provenance of renewable tariffs. Granular Energy intends to use the backing to scale its operations and expand its software offerings globally.
From the founder
"One of the most effective things anyone can do to reduce their carbon footprint is to purchase energy from carbon-free sources. We’re helping energy companies create more transparent offers for their customers to make switching to clean energy more accessible and more impactful. Consumers deserve to know whether their electricity comes a source that is either destroying our planet or is part of our future."
Toby Ferenczi
Co-Founder at Granular Energy
Investor perspective
"We’re excited to support the Granular team on their journey to revolutionise the power grid. Granular Energy’s software empowers utility companies to offer honest insights to customers about their energy sources, at a time when there’s increasing demand for transparency. We believe in the team’s vision to drive substantial change and make greener energy not only more readily accessible and understood, but the norm."
Agate Freimane
General Partner, Norrsken
Use of funds
- 01Fund the next phase of growth
Investors
About the company
Granular Energy
Granular Energy develops software to improve transparency and tracking in the green energy sector.