Tibo Energy, an Eindhoven, Netherlands-based startup that focuses on managing network congestion and reducing energy costs with smart grid management, has secured €3 million in a seed funding round.
SaaS Investors
The round was led by SET Ventures, with participation from Speedinvest and members of the tibo energy founding team.
Founded in 2007, SET Ventures is a venture capital firm based in Amsterdam, Netherlands. The firm seeks to invest in European technology companies and focuses broadly on innovative energy generation, energy distribution and storage, artificial intelligence and machine learning, and energy efficiency sectors.
Tibo Energy Use of Funds
The company will use the funds to expand its team and drive national and international growth.
About Tibo Energy
Founded in 2022, Tibo Energy provides energy management software for commercial and industrial (C&I) customers to facilitate the electrification of on-site assets such as solar panels, heat pumps, and batteries. The platform, powered by machine learning, enables companies to simulate and manage complex systems, helping them transition to local smart energy grids.
Funding Details
Company: Tibo Energy
Raised: €3.0M
Round: Seed Round
Funding Month: January 2024
Lead Investors: SET Ventures
Additional Investors: Speedinvest
Company Website: https://tibo.energy/
Software Category: Energy Management Software
Source: https://tibo.energy/tibo-energy-raises-seed-round/