Swedish energy startup Engrate has raised a €2.5 million seed round to accelerate its mission of simplifying digital integrations in the energy sector. The round was led by global mobility and energy-focused VC Maniv, with participation from Eviny Ventures and Sweden’s Course Corrected. Founded in early 2024, Engrate provides a digital platform that streamlines system integrations for energy companies, helping reduce complexity and speed up the transition to renewable energy. With the new funding, the startup plans to deepen platform development and expand into Northern European markets, addressing a growing demand for smart, scalable digital infrastructure in the face of surging electricity consumption.
Engrate’s vision is to enable a faster and smoother shift to renewable energy by offering seamless software integration solutions that reduce time-to-market and complexity for energy companies. Since its founding in January 2024, the company has already secured the fast-growing energy company Flower as a customer and participated in Norrsken’s Accelerator Program. Engrate previously raised over €500 K from Dutch VC firm NP Hard and several angel investors.
Now, the company has raised an additional €2,5 Million, led by global VC firm Maniv, which focuses on transportation and energy solutions. Other investors include Eviny Ventures of the Norwegian renewable energy solutions provider Eviny, and the Swedish VC firm Course Corrected. The new funding will be used to develop the platform further, with an emphasis on simplifying digital integrations for energy companies aiming to increase grid flexibility.
“Electricity consumption is expected to double within the next 10–20 years. To handle that amount of electricity, we require smart digital solutions that enable seamless collaboration and communication across the energy sector to ensure efficient and sustainable production. With this new funding, we can further develop Engrate’s platform to meet the growing need for simple, scalable integrations, both in Sweden and globally,” says Anna Engman, co-founder and CEO, Engrate.
Digital communication between systems and devices in the electricity sector is critical but complex to build and maintain. As energy companies enter new markets or launch new services, extensive integrations are needed to connect with local grid operators and regulatory frameworks. Engrate’s digital platform harmonizes data sources and reduces integration complexity, allowing customers to focus on growth and building the energy systems of tomorrow. Lead investor Maniv sees major potential in Engrate.
“The energy sector’s digital maturity remains woefully underdeveloped,” commented Nate Jaret, Partner at Maniv which led the financing round. “We believe Engrate’s capabilities represent a critical node in the comprehensive digitization of a sector that must quickly adapt to changing market dynamics. With a spectacular founding team and clear vision, we are confident the company will continue to deliver world-class technology solutions and are delighted to join Engrate’s journey ahead.”
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Read the orginal article: https://arcticstartup.com/engrate-raises-e2-5-million-seed/
