The Swedish energy tech firm Flower has closed its Series A funding with an additional €20 million, bringing the round total to €45 million as it aims to redefine the post-transition energy system. The round was led by Northzone, with additional investment from Giant Ventures, 82an Invest, Sony Innovation Fund, and angel investors Thomas von Koch and Sebastian Knutsson, founder of game developer King.
Flower is enabling and managing tomorrow’s clean energy system by fostering flexibility, stability, and predictability in global energy grids, while also providing renewable power asset owners with enhanced revenue streams. This is achieved through Flower’s AI-driven platform and supporting hardware infrastructure.
The company will use this capital to support its ambitious pan-European expansion and to continue developing its Battery Energy Storage Systems. Currently active in Sweden and Denmark, Flower plans to extend operations to the DACH region, France, the Netherlands, and Belgium by 2025 and 2026.
John Diklev, Founder and CEO of Flower, commented: “2024 has already been a pivotal year in Flower’s growth, marked by our acquisition of Sweden’s largest battery park and the announcement of significant new partnerships. Completing our Series A round and bringing on board leading Swedish and European investors is a major milestone, not only for Flower’s journey but also in building the energy systems of tomorrow.”
Pär-Jorgen Pärson, General Partner at Northzone and a new member of Flower’s board, added “We’re very excited by the team’s pioneering approach to renewable energy challenges, combining cutting-edge AI-driven optimization and grid-level battery systems to transform Europe’s energy grid. We’ve never seen such a fast-moving company.”
Co-founder and Managing Partner at Giant Ventures Cameron McLain said: “Energy flexibility is essential to building a resilient energy grid. Flower has achieved impressive growth with its bold vertically-integrated approach, and we’re excited for what’s next.”
Read the orginal article: https://www.eu-startups.com/2024/10/stockholm-based-flower-raises-e45-million-to-revolutionise-european-energy-flexibility/
