Tallinn-based Gridio has raised €2.4 million in a seed round led by Neokapital, with backing from Encevo, Smartcap, Renergy, and existing investors. The company develops software that connects electric vehicles, solar panels, and home batteries to electricity markets, allowing users to adjust energy consumption based on price fluctuations and grid demand. The new funding will support Gridio’s expansion across Europe, focusing on increasing its user base and offering its technology to energy providers looking for ready-made smart charging solutions.
Gridio is an Estonian software company specializing in smart energy management for electric vehicles and distributed energy devices. Founded in 2018, the company develops a platform that connects EVs, solar panels, and home batteries to electricity markets, enabling automated charging and energy use optimization based on price fluctuations and grid conditions. By integrating with a wide range of energy hardware, Gridio aims to reduce costs for consumers, support grid stability, and help energy providers manage demand more efficiently. The company is expanding its services across Europe as energy markets adapt to increasing renewable adoption.
“Already today, we have tens of millions of electric cars, batteries and solar panels that are active on the grid, but are not used when it makes most sense for the consumer and the grid,” said Konrad Hanschmidt, Co-founder and CEO of Gridio to EU-Startups. “The market incentives are there, but the complexity of energy markets for ordinary consumers, combined with a patchwork of different devices, brands and apps, means that this huge opportunity is simply left under-utilised.”
Gridio’s software addresses the challenge of balancing energy consumption with fluctuating electricity supply, particularly as more households adopt electric vehicles, solar panels, and home batteries. By integrating with a range of energy devices, the platform enables users to adjust energy use based on real-time market conditions without requiring additional hardware.
“Energy providers are increasingly looking for ready-made solutions to help their customers be smarter about electricity use. Gridio delivers a double benefit: consumers save on their bills, and providers gain better tools to manage and reduce the cost of electricity delivery,” added Konrad Hanschmidt.
The company’s app allows consumers to automate charging and energy consumption during lower-cost periods, while energy providers can use Gridio’s platform to offer smart charging services without developing in-house solutions. This approach aims to improve grid stability and optimize electricity distribution as renewable energy sources become more prominent.
“What attracted us to Gridio was their team’s unique software-based approach and traction to date in solving a problem that is becoming increasingly expensive for our renewables-fuelled economies,” said Kristjan Petjärv, Chairman of the Management Board at Neokapital.
“We’re thrilled to learn with Gridio how to enhance the experience of customers embracing the use of electric vehicles and related distributed energy devices. We believe scaling fast is critical in this space and Gridio shows potential to deliver just that,” said Nicolas Milerioux, Head of Corporate Venture Capital at Encevo.
“We are backing Gridio, as the success of its ambitious roadmap would not only result in a transformed and more cost-effective energy system but also unlock further potential for other clean energy solutions,” added Sille Pettai, CEO and Fund Manager at SmartCap.
“Our mission is to simplify energy decisions for everyone—consumers and providers alike,” said Konrad Hanschmidt. “This funding allows us to bring our vision to life at scale, helping millions of households and energy providers benefit for being actively part of the energy markets, with no hassle.”
With electricity prices remaining volatile, Gridio plans to use its latest funding to expand its platform across Europe. The company currently has over 30,000 users and intends to scale its services further, targeting both individual consumers and energy providers seeking automated energy management solutions.
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Read the orginal article: https://arcticstartup.com/gridio-raises-e2-4m/
