Entelios AG, a Munich, Germany-based supplier of clean and intelligent energy solutions, completed its Series A financing round of undisclosed amount.
The round was led by Yellow&Blue Investment Management, and High-Tech Gründerfonds.
The company intends to use the funds to grow the business.
Established in 2010 by by CEO Oliver Stahl, COO Thomas Schulz, and Stephan Lindner, Entelios is signing up commercial and industrial electricity consumers, aggregating their capability to reduce energy enabling utilities, grid and system operators to shave peak power demands, balance intermittent power generation from renewable sources, avoid grid congestions and reduce the need of fossil fuel power plants.
Grid operators and utilities pay Entelios for providing Demand Response capacity (MW under Management) by managing the consumption patterns of industrial and commercial customers.