envelio, a Köln, Germany-based energy grid digitization startup, closed a €6m Series A funding round.
Backers included eCAPITAL and existing shareholders Demeter and High-Tech Gründerfonds (HTGF).
The company intends to use the funds to to ramp up its international presence to offer dedicated resources to customers, specifically in Europe, Asia as well as North and South America.
Led by Dr. Fabian Potratz, co-founder and CTO, and Dr. Simon Koopmann, co-founder and CEO, envelio provides distribution system operators with an Intelligent Grid Platform (IGP) to digitize their energy grids and all related planning and operations processes.
The company’s system enables the distribution grid for the next phase of the energy transition with three major components. Firstly, IGP Data Quality automatically builds up digital twins of the real electricity infrastructure while at the same time identifying and correcting data errors and inconsistencies in grid data. With IGP Planning, traditionally time-consuming grid planning processes can be automated and accelerated from weeks to minutes. The IGP Operation apps provide forecasting, real-time monitoring and congestion management capabilities that help to operate a smart grid.
envelio is a spin-off from RWTH Aachen University founded in 2017. It now has 44 employees and such customers as German and international grid operators like Westnetz, E.DIS (both E.ON group), Enel, Iberdrola and EDP.