Synergi, a Finnish tech company accelerating the transition toward sustainable energy sources with smart and flexible software for consumers and utilities, announced the completion of its €2 million seed funding round. Greencode Ventures led the round, while Vaens joined as a new follower. And existing investors Lifeline Ventures, APX (the first check investor of Porsche and Axel Springer), and Wave Ventures also participated in the round.
The EU set targets to decarbonize its energy system through electrification and renewable energy adoption. Electrification is expected to lead to a 60% increase in electricity demand by 2030, which existing grids will need help integrating.
But adopting renewable energy sources will make electricity demand increasingly unpredictable. Customer-owned home-energy assets have fortunately opened a new possibility: household flexibility. In the form of VPPs (virtual power plants) that aggregate loads of home energy assets, consumers can be nudged and rewarded to change consumption habits and relieve the grid during peak times.
With this need, Synergi launched its platform in 2023 to encourage households and utilities to participate in the green transition using their home energy assets flexibly, such as electric vehicles, heat pumps, and solar panels. And to assist households in optimizing energy use during cheaper and greener periods, the company released the Synergi app. The app has also helped thousands of European users save 50% on EV charging and 20% on heating costs annually.
With the funding round, Synergi will hire new engineers, salespeople, and marketers and expand into flexibility markets in Nordic and central European countries.
KEY QUOTES:
“We want to help consumers and utilities benefit from providing flexibility to the grid. Previously, this was not possible. Soon, utilities can generate revenue from flexibility markets by aggregating the loads of customer-owned energy assets on the Synergi platform and providing their customers with the Synergi app as a turnkey solution.”
– Antti Hämmäinen, CEO & Co-founder at Synergi
“Energy flexibility is an untapped opportunity. Synergi´s business model has the potential to bring European consumers, utilities, and grid operators together to benefit all by balancing the grid and creating resilience for the whole system.”
– Ines Bergmann-Nolting, Managing Partner at Greencode Ventures
