enspired, a Vienna, Austria-based energy trading-as-a-service company, raised $8.7 million in Series A, adding to its momentum to solve a key challenge in the energy transition by making power grids more flexible.
The funding round, co-led by Emerald Technology Ventures and 360 Capital, two leading venture capital firms investing in technology that supports the energy transition – will further accelerate the company’s expansion across Europe just 18 months after its inception.
Corporate venture capital investors EnBW New Ventures and Helen Ventures are joining the syndicate together with co-investor i5invest
Company: enspired GmbH
Round: Series A
Funding Month: December 2021
Lead Investors: Emerald Technology Ventures and 360 Capital
Additional Investors: EnBW New Ventures, Helen Ventures, and i5invest
Company Website: https://enspired-trading.com/
Software Category: AI-based trading services.
About the Company: Founded in 2020, enspired is a fully digital energy trading-as-a-service company headquartered in Vienna. enspired’s mission is to enable a full transition to clean energy by providing power grids with much-needed flexibility. The minds behind enspired – Juergen Mayerhofer (CEO), Wolfgang Eichberger (CTO), and Mario Schmoltzi (CCO) – bring decades of experience in the energy and software industry to the fully digital trading-as-a-service (TaaS) company, using Artificial Intelligence to advance from traditional trading. enspired commercially optimizes power generation, storage, and consumption assets on so-called “spot markets” – short-term power exchanges that help to balance supply and demand. enspired drive the energy transition by enabling our clients to bring flexible assets to power spot markets and capture their full value with our AI-based trading services. The enspired team consists of leading algorithmic traders, data scientists, and technology enthusiasts who firmly believe that the way power is traded will soon change drastically - in our world, there is no room for trading screens and traditional optimization.