Dublin-based Openvolt, a company with a mission to enable new energy solutions by unlocking access to energy data, has raised a pre-seed round of €1.5 million led by Berlin-based early-stage investor Cavalry Ventures, with participation from climate investor Übermorgen Ventures.
The infusion of capital will enable Openvolt to accelerate the development of its innovative API. The company is growing and is currently recruiting for a number of key roles, including remote Software Engineers based in Europe.
Founded in 2023, Openvolt’s API will provide developers with a seamless and powerful solution for accessing a wealth of energy data. Dave Curran, co-founder and CEO of Openvolt, commented: “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.”
As the world races towards a sustainable future, Openvolt’s API empowers software developers and companies to create a new generation of applications that can contribute to reducing the world’s carbon footprint. These include applications focused on improving energy efficiency in domestic and commercial properties, applications that enable a better electric vehicle charging experience, as well as enabling new emerging technologies such as demand response solutions for the electric grid.
Claude Ritter, Managing Partner at Cavalry Ventures, shares the company’s vision and expresses confidence in the startup’s potential impact. He added: “Openvolt’s API represents a transformative leap akin to what open banking ignited in the financial sector. Just as open banking revolutionized 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.”
Alongside the recent fundraising, Openvolt is announcing the imminent launch of its Beta API, granting access to meter-level energy consumption data in the United Kingdom. Software developers who share Openvolt’s vision for innovation and sustainability are invited to participate in the beta and explore the transformative potential of energy data applications.
“Openvolt’s product is a game-changer for developers. By simplifying access to user-permissioned energy data, we’re empowering developers to focus on what they do best – innovating. With our API, they can seamlessly integrate energy data into their applications, creating a new wave of solutions that drive energy efficiency and shape a more sustainable world,” said Don O’Leary, co-founder and CTO of Openvolt.
With a proven track record of entrepreneurial success, Dave Curran brings invaluable insights from his previous venture Love Mondays, which was acquired by Glassdoor in 2016. Complementing this expertise is Don O’Leary, who previously led Stripe’s Dublin office and has deep experience in building world-class APIs. The co-founders came together through a shared passion to have a meaningful impact on the climate challenge.
Read the orginal article: https://www.eu-startups.com/2023/09/irish-startup-openvolt-raises-e1-5-million-pre-seed-to-unlock-access-to-energy-data-in-europe/
