Rotterdam-based startup Gradyent has secured €10M in a Series A round of funding from existing investors Capricorn Partners (also invested in StoryCheif), ENERGIIQ, Helen Ventures, and new investor Eneco. The company will use the funds to make district heating systems more efficient and sustainable.
According to the company, more than 25% of global energy consumption comes from heating and cooling buildings. Annually, these grids lose about a quarter of their heat, and the call for CO2 reduction is getting stronger.
However, heating systems often run on outdated software, and the transformation to integrated energy systems with local, sustainable sources needs the right software.
Optimising heat systems
Founded in 2019, Gradyent has developed software that helps heating companies optimise their heat systems and reduce CO2, so they can continue to supply affordable and reliable heat.
The company has developed software based on the Digital Twin technology.
A digital copy of the physical heat system is made, combining geographical, weather, and sensor data with physical models and AI.
As a result, the Digital Twin makes it possible to optimise the heating system in real-time and to run simulations of future situations, saving on average 20% heat loss, 10% CO2 emissions, and 5-10% fuel costs.
“Our mission is to make heating systems future-proof. With the Gradyent Digital Twin, we can both increase the efficiency of existing systems and accelerate the transition to more sustainable systems,” says Herve Huisman, CEO of Gradyent.
Eneco Ventures
Eneco Ventures is the investment arm of Netherlands-based energy innovator Eneco that invests in startups and scale-ups that accelerate the energy transition.
“Eneco is pleased with the investment in Gradyent. The acceleration of sustainable heat is one of the important pillars of our One Planet ambition to be climate neutral by 2035, together with our customers. Eneco has been a customer of Gradyent for a long time and wants to deepen the relationship with this investment further and continue to share knowledge with a unique and leading technology company in the field of heating systems,” says Robert Blom, investment director, Eneco Ventures.
