Hybird Energy, a Danish startup revolutionizing energy management with AI-powered intelligent electrical panels, has secured €2.4 million in funding to scale its operations across Europe. The round was co-led by BackingMinds and Transition, with participation from 2degrees, EIKON Capital, Notion Capital’s Pioneer Fund, and a network of strategic angel investors, including former executives from Pleo, OculusVR, and Monta. Hybird’s technology provides real-time transparency into electricity, water, and heating consumption, enabling businesses to optimize energy use and reduce costs by an average of 30%. With this funding, the company plans to expand its automation capabilities, integrate adjacent utilities, and strengthen its role in balancing Europe’s strained energy grid.
Hybird offers a one-of-kind hardware + software solution that enables business owners to take full control of their electricity data and machines. Once companies replace their current electricity panel with Hybird’s intelligent panels, they immediately get a granular and real-time picture of all electricity usage, at the source level of a building. From here, Hybrid’s software analyzes electricity data to recommend cost savings, implement rules to automatically turn power on/off remotely during specific times, days, weeks etc. and to understand the electricity pattern of every single machine, enabling them to predict malfunctions, before it happens.
“With the proceeds from this round, we will accelerate our rollout and capture an underserved market with massive potential, commercially and help solve one of the biggest problems of our generation. In the near future Hybird not only cut costs and reduce CO2 emissions for our customers, we become an important component in helping balance the grid, makes it possible to effectively utilize greater parts of the existing electricity grid” says Søren Berg, CEO & Co-founder of Hybird.
Europe’s energy crisis is very real, with rising and increasingly volatile energy prices. Soon Europe will consume more electricity than it produces. Hybird’s technology makes it possible to cut down our redundant energy spend and meet our future energy demand. Electricity has not only become magnitudes more expensive, the EU is currently on the course of not being able to meet energy demand by 2030.
Several EU countries have already shut down fossil-fueled power plants, and with more closures planned by 2030, the continent faces growing concerns over energy security. The challenge is further compounded by setbacks in renewable energy expansion, as seen in December 2024 when the Danish Energy Agency failed to attract any bids for three major wind farms in the North Sea—once considered a cornerstone of Europe’s offshore wind supply. As reliance on renewables increases, ensuring a stable energy supply becomes increasingly difficult, particularly during periods when solar and wind generation are insufficient to meet demand.
Wind and solar are a key part of the green transition and with wind at a crunch, CO2 emissions from electricity are expected to increase from 38% as of 2023 to higher levels.
“Electrical switchboards have seen no significant innovation since the introduction of Automatic circuit breakers and residual current devices in the 1960s. With Hybird we pioneer a technology driven transformation in the sector, making us the easiest way for companies to participate in the green transition and for electrical contracting companies to finally get a digital overhaul of this key part of their business” says Thomas Skovby, CCO & Founder of Hybird.
Today’s electricity consumption is a black box where all companies overconsume, due to the lack of transparency and limited options to reduce and manage consumption. Hybird empowers companies to take action by providing full transparency at the source level and with its real-time capabilities, enables buildings to be semi-autonomous in managing their electricity, water or heating. Hybrid Energy is one of the easiest ways for businesses to actively participate in the green transition, while being rewarded with lowered costs that can be added directly to the company bottomline.
Hybird is currently able to cut energy consumption by 30% on average for real estate and industrial companies and is now live at 15 sites, across several different industries, helping balance the energy grid in Denmark + reduce CO2 emissions.
“We’re fortunate to be able to draw on significant advances in software and hardware that let us reimagine how we can access and surface highly technical data from electrical systems. If the last couple of decades of software eating the world taught us anything, it’s that simple works. And yet, vast domains like electrical infrastructure are still left behind. We are changing that with Hybird. We want to help make infrastructure more manageable by surfacing actionable data and we want to provide tools to simplify and improve daily operations for businesses” says Morten Primdahl, CTO & Co-founder of Hybird.
The round is co-led by BackingMinds, a Swedish early-stage venture capital firm, and Transition, a UK-based Climate VC, who are joined by existing investors 2degrees, a private investment company in Copenhagen and the family office for a co-founder of Urban Partners (€21bn AUM) and EIKON Capital.
“There are massive energy savings waiting to be unlocked in commercial buildings. As more renewable energy comes online on the grid there is a growing need to better manage electricity at the point of use. The key to doing this at scale is combining hardware and AI to automate decision making. Hybird’s breakthrough platform is set to completely revolutionise how electricity use is managed and open up a world of new possibilities.” says Ari Helgason, General Partner at Transition.
In addition, joining the round is also Notion Capital’s Pioneer Fund, two family offices and fifteen strategic angels, most notable Ekaterina Gianelli (Ex-Inventure), Louise Krogh Rindom (Monta), Jeppe Rindom (Pleo), Sune Alstrup (ex-OculusVR), Anders Bo Pedersen (ex-Meta), Christian Legene (Autobutler), Tony Kula (MeetYoo), Lasse Stockholm (Ex-Zenfit), Oliver Rye (Likeminded), Mickey Switzer Schubert-Suell (Simply), brothers Thomas + Kristian Buus Madsen (Bookboon).
“Hybird’s technology has a real chance to make a significant impact on our energy grid – not in 10 years, but today. The combination of an experienced founding team and a truly refined product experience – from hardware to software to the end user, really stood out to us. Rarely do we see this level of talent come together, to solve one of our biggest challenges”, says Jasenko Hadzic, Principal at BackingMinds.
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Read the orginal article: https://arcticstartup.com/hybird-energy-raises-e2-4m/
