epilot, a Cologne-based platform transforming the energy sector with its cloud-based software, has raised €10 million from Expedition Growth Capital, a software specialist growth equity firm, with offices in London and Boston, which backed headless CMS Kontent.ai.
Working in the green energy sector, we saw UK-based Heatio and Hometree and Berlin-based Cloover raise investments.
How will it use the investment?
The new funding will enable epilot to significantly expand its about 100-strong team, including expanding the product engineering team, to develop new products and solutions for the platform and extend its AI capabilities.
In addition, Expedition partner Will Sheldon join epilot’s advisory board.
Will Sheldon, Partner at Expedition Growth Capital, said: “We are thrilled to partner with epilot’s passionate team of experts and visionaries. The energy industry is now embracing digital transformation along with the green transition and epilot’s strong and efficient growth is a testament to the value that sophisticated customer organisations are seeing.”
What challenge does it address?
Utilities and grid operators are being held back from supporting the switch to renewable energy because of outdated, legacy IT systems. Old-school software means utilities can’t keep up with the complexities required for different product categories to serve their customers holistically. Grid operators are also struggling to manage the increased workload due to surges in grid connections. This is hampering the renewable energy transition at a time when temperatures across Europe have reached record levels and the effects of climate change, including widespread flooding, are felt more than ever.
The German startup epilot provides an all-in-one solution, streamlining processes and reducing complexity for enterprise customers.
Software for green energy transition
Founded in 2017 in Cologne by Michel Nicolai, Szilard Toth, and Rolf Benken, epilot was launched to provide the software to enable the green energy transition. With epilot, utilities can standardise and automate sales processes for new renewable energy products and increase efficiency when handling customer inquiries and installation companies.
Also, grid operators can use the software to reduce bottlenecks in workflows and connect more customers to renewable energy systems at home.
Michel Nicolai, CEO & Co-Founder of epilot, said: “Our mission at epilot is to accelerate the energy transition. Whilst we didn’t need to raise this funding as we have been growing sustainably, today’s announcement is a major milestone on our journey and will enable us to execute even faster on our platform roadmap and expansion plans. We are excited to welcome Expedition as our growth investor based on their thesis in our industry and deep experience in supporting vertically focused SaaS companies in achieving scalability.”
How is it beneficial?
As per the company, by leveraging epilot, customers can reduce their reliance on siloed and inflexible tools such as Microsoft Excel and outdated CRM systems. Projects that would usually last between 18-24 months can be completed in only a few weeks. epilot’s impressive growth, serving over 150 customers including badenova, DEW21, enercity, and Mainzer Netze, is a testament to its value.
What do we think about epilot?
epilot is revolutionizing the energy sector by providing cloud-based software to streamline processes for utilities and grid operators, enhancing the renewable energy transition. With €10 million in new funding, the Cologne-based startup aims to expand its team and AI capabilities, driving faster execution of its platform roadmap. Its impressive customer base and rapid growth highlight its significant industry impact.
