SnerpaPower Raises €3.4M Seed

SnerpaPower, based in Reykjavik, Iceland, has raised €3.4 million in a seed funding round to accelerate the expansion of its energy management platform across Europe. The company provides software solutions designed to help power-intensive industries optimize their electricity consumption.

Investors

The funding round was led by Encevo, a key player in Luxembourg energy transition, with additional participation from the Icelandic Technology Development Fund, as well as existing backers Crowberry Capital and BackingMinds.

SnerpaPower Use of Funds

The company intends to utilize the new capital to enter additional European markets and to further develop its forecasting, automation, and market-integration software capabilities.

About SnerpaPower

Founded in 2022 by Íris Baldursdóttir and Eyrún Linnet, SnerpaPower provides AI-powered software for power-intensive industries, including data centers and aluminum producers. Their platform enables real-time connection between industrial operations and energy markets, allowing companies to automate sourcing strategies and manage electricity as a flexible asset.

Funding Details

Company Website: https://snerpapower.com

Company: SnerpaPower
Raised: €3.4M
Round: Seed
Funding Date: August 20, 2026
Lead Investor: Encevo
Additional Investors: Icelandic Technology Development Fund, Crowberry Capital, BackingMinds
Software Category: Energy Management
Source: https://app.dealroom.co/news/note/iceland-s-snerpapower-raises-3-4m-to-turn-factory-electricity-into-profit