Copenhagen-based Electricity Maps, a company specialised in mapping the climate impact of electricity, announced on Tuesday that it has secured €5M led by climate funds Transition and Revent.
The Danish company will use the funds to accelerate the data-driven decarbonisation of electricity.
This funding will speed up the company’s mission to map the world’s electricity grids with greater detail and expand the app and API with more signals.
Birth of Electricity Maps
At the beginning of 2016, Olivier Corradi, the founder and CEO of a company, became fixated on the idea of leveraging data to help humanity move towards a more sustainable future.
As the world is moving towards electrically powered solutions, there is a pressing need for transparency and accurate information on electricity consumption, CO2 emissions, and the actual carbon footprint of the electricity consumed.
And thus born Electricity Maps!
Electricity Maps: Mapping the climate impact of electricity
Electricity Maps provides companies with actionable data quantifying the carbon intensity and origin of electricity.
This data is available on an hourly basis across 50+ countries and more than 200 regions.
The Danish company offers data that helps users understand and reduce the carbon footprint of their electricity usage.
The data is accessible in historical, real-time, or forecasted formats for the next 24 hours. Furthermore, users can access real-time data through their free app.
“Matching an increasing electricity demand with a growing intermittent energy supply will require interacting with the grid in real-time using data APIs. Furthermore, greenwashing has become a significant risk which could slow down the energy transition. Therefore, we have set ourselves the mission to enable data-driven decarbonisation of electricity,” Olivier Corradi, founder and CEO.
The company has been bootstrapped since its inception in 2016.
The company claims that despite limited resources, it was able to double its revenue annually, grow its app to millions of visitors annually, and serve close to 10M daily requests through its commercial API.
Read the orginal article: https://siliconcanals.com/news/startups/copenhagen-electricity-maps-gets-5m/
