GreenCom Networks, a Munich, Germany-based home energy IoT provider, secured an undisclosed amount of funding.
The round was led by Centrica with participation from SET Ventures, Munich Venture Partners and Cosmos. In conjunction with the funding, Idan Mor, Centrica Innovation Investment Director, will join the GreenCom Supervisory board.
The company intends to use the funds to further international expansion of its Energy Internet of Things (IoT) platform in the European market.
Led by Christian Feisst, CEO, GreenCom provides utilities, energy service companies and OEMs of energy-relevant devices with an IoT solution for distributed energy resources management (DERM). The platform is the foundation for digitally connecting and managing those devices for an optimal usage for homeowners.
GreenCom integrates distributed assets from a large variety of vendors and enables new energy services like power, heat or mobility flat-rates, energy communities, or generation of additional benefits from trading the flexibility of devices in a virtual power plant.