BLIXT – a company transforming the electricity sector with an innovative software-defined power system – has successfully raised €5 million in a seed funding round co-led by Union Square Ventures (USV) and Energy Revolution Ventures (ERV). This funding round positions BLIXT for dynamic growth and accelerates its goals to transform electrical infrastructure.
BLIXT has been a leader in developing cutting-edge technologies for the energy sector since it was founded in 2018. Some of the inventions the company created include the world’s first miniature solid-state circuit breaker and a smart electronic device that can quickly and safely stop the flow of electricity in case of a problem. Differentiating from conventional mechanical circuit breakers, the company’s product integrates real-time metering and power flow control, enabling users to adapt to changing grid conditions promptly.
The advancements in voltage control have enabled more efficient conversion between alternating current (AC) – typical of wall outlets – and direct current (DC) – prevalent in renewable energy generation and battery usage. This technology significantly enhances Battery Energy Storage Systems (BESS) – which store surplus energy for future consumption. Integrating renewable sources like solar and wind power into the electrical grid becomes more seamless and economical, addressing climate change concerns and contributing to sustainable energy.
BLIXT’s first key product is BLIXT Zero, a multifunctional switchgear 1000 times faster and more advanced than a traditional mechanical breaker. This is especially essential for the increasing use of direct current (DC) power and DC microgrids, as it enables a more stable and reliable power grid.
BLIXT’s second product in the portfolio is the X-Verter, a next-generation voltage control technology that transforms the performance of BESS. The X-Verter significantly reduces energy losses during AC and DC power conversion and extends battery life by utilizing advanced cell-level control. The X-Verter was designed to be scalable and adaptable to meet various customer needs, from backing up data centers to powering EV charging stations and large-scale solar installations.
The BLIXT Zero and X-Verter provide a comprehensive approach to upgrading electrical infrastructure. These innovations support the integration of renewable energy sources and improve the overall efficiency, reliability, and flexibility of the power grid, driving the way for a cleaner and more sustainable energy future. BLIXT’s solutions have attracted significant interest from a wide variety of customers such as a strategic partnership with Havells, India’s biggest manufacturer of power electronics. This latest funding round will enable the company to expand its reach and scale up production to meet demand.
KEY QUOTES:
“To fully unlock our zero-carbon future, its urgent to address the limitations of our antiquated electrical infrastructure. This requires a shift from the traditional one-way power flow to a fully programmable, multi-directional energy exchange.”
– Charlotta Holmquist, Co-founder and President of BLIXT
“BLIXT’s groundbreaking solid-state circuit breaker (SSCB) and X-Verter® battery management system showcase a remarkable fusion of innovation and practicality. As partners invested in driving the energy revolution forward, we are delighted to co-lead this investment round and commends BLIXT for their unwavering commitment to reshaping the future of power distribution and conversion, making strides towards a more sustainable energy ecosystem.”
– Peter Robson, Managing Director ERV
“The energy transition requires an upgrade of our electrical infrastructure, and a rethinking of how we manage energy assets. Blixt’s products enable high-performance, software-based control of energy devices, providing a critical new building block for the sector. USV is thrilled to partner with the Blixt team to deliver on this vision.”
– Nick Grossman, General Partner USV
“The quality of our new lead investors marks a significant milestone and empowers us to accelerate software-defined power systems’ growth. With financial support and expertise from new board directors Peter Robson from ERV and Nick Grossman from USV, we lead in shaping the future of energy distribution.”
– Charlotta Holmquist, President & Co-Founder BLIXT
