Eliq Raises €10 Million in Funding

by Kay Aloha Villamor in November 22nd, 2023

Eliq, a Göteborg, Sweden-based software company, secured €10 million in growth funding.

SaaS Investors

The funding round combines capital from existing investor Inven Capital as well as new investors Axpo and Valkea.

Inven Capital is a venture capital fund established to invest in the European new energy sector. Backed by CEZ Group and the European Investment Bank (EIB), the firm prefers to invest in energy efficiency, distributed generation, flexibility and storage, customer engagement products, and clean transportation sectors.

Axpo is driven by a single purpose – to enable a sustainable future through innovative energy solutions. Axpo is Switzerland's largest producer of renewable energy and an international leader in energy trading and the marketing of solar and wind power.

Valkea, a Growth Club founded by leading clean-energy company Fortum. Valkea's primary focus is on revolutionizing the energy, resource efficiency, and sustainability industries. As an investment management firm, Valkea is always on the lookout for ambitious startups that share their vision of a cleaner and more sustainable future.

Eliq Use of Funds

The company will use the funds to expand its platform across Europe.

About Eliq

Eliq is a SaaS company specializing in creating rich, engaging customer experiences around energy, based on energy data analytics via smart and non-smart meters, as well as behavioral science. Eliq’s energy intelligence platform focuses on home energy efficiency, expediting the transition towards more sustainable home energy use by making sense of energy data. The platform allows utilities, banks, and smart home providers to offer their customers solutions to interpret energy data, provide guidance on energy-efficient usage, and facilitate upgrades and green financing. Eliq is currently active in 15 European countries with 30+ live customers. 

Funding Details

Company: Eliq AB

Raised: €10.0M

Round: Growth Round

Funding Month: November 2023

Lead Investors: Inven Capital, Axpo and Valkea  

Additional Investors:

Company Website:  https://eliq.com/

Software Category: Energy Data Analytics

Source: https://www.prnewswire.com/il/news-releases/ai-powered-automation-startup-for-social-media-munch-raises-7-2m-in-seed-funding-led-by-a-capital-301993626.html

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