Eliq, a home energy efficiency platform, has successfully raised a €10m growth round. The funding round combines capital from existing investor Inven Capital with new investors, Axpo and Valkea. Along with additional debt financing, this investment is focused on expanding Eliq’s home energy efficiency platform across Europe.

Eliq empowers utilities, banks, and smart home providers to provide customers with energy data to make smarter, more sustainable decisions in household energy usage, ultimately reducing their carbon footprint.

Eliq’s platform focuses on home energy efficiency, expediting the transition towards more sustainable home energy use and making sense of energy data. The platform allows utilities, banks, smart home providers and other businesses to offer their customers solutions to interpret energy data, provide guidance on energy-efficient usage, and facilitate upgrades and green financing.

Open banking for energy

The premise of open energy is much like open banking. Through collaboration with your bank, open energy data has the potential to save lots of money. This is something that is reinforced by Håkan Ludvigson, CEO and co-founder of Eliq. Ludvigson said: “We need to talk about Open Energy Data. We want to empower 1 billion individuals to be part of the home energy transition for a greener and more affordable energy future. We see immense potential in the wealth of energy data at our disposal, and with the transformative force of digitalisation, along with the recent EU directive underlining the importance of this, we’re changing the way we understand home energy usage.”

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Household energy savings are of paramount importance, especially when considering that households account for a substantial 27% of final energy consumption. This recent funding brings Eliq’s total funding since its inception to €19m, enabling the company to aggressively expand its sales and marketing efforts while accelerating product development.

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Petr Míkovec, Managing Director, Inven Capital added: “Since we invested, Eliq has grown into a European wide API-energy platform with 10 million contracted end consumers of businesses such as top European utilities, banks and global smart home providers and is managing 100bn+ energy data points. This most recent investment will be used to roll out the platform within the already contracted corporate customers, expand further and therefore capture hundreds of millions of end users across multiple verticals and creating a huge impact in terms of significant reduction of energy costs and carbon emissions.”

This financing round builds on an exceptional year for Eliq, marked by a growing list of clients, product- and market momentum in the rapidly changing European energy landscape. The company has partnered with leading firms like TotalEnergies, Schneider Electric, Fortum and KBC, and has received top recognition from industry analysts.