Swedish software company Eliq has raised a €10 million growth round. The funding round saw participation from existing investor Inven Capital with new investors, Axpo and Valkea. Axpo and Fortum are existing CVCs of Eliq’s current customers, along with additional debt financing.
This funding brings Eliq’s total funding to €19 million, enabling the company to expand its sales and marketing efforts while accelerating product development. It is focused on expanding the home energy efficiency platform across Europe.
Platform for sustainable home energy use
Eliq was founded in 2016 by energy experts and software entrepreneurs – Håkan Ludvigson, Joakim Botha Sandnes, Joakim Fischer, Olof Hartelius, and Joakim Ottander. It is driven by the purpose of making sense of the world’s energy data to enable businesses to create sustainable living and financial empowerment for customers.
Eliq’s energy intelligence platform focuses on home energy efficiency, expediting the transition towards more sustainable home energy use and making sense of energy data. The platform allows utilities, banks, smart home providers, and others to offer their customers solutions to interpret energy data, guide energy-efficient usage, and facilitate upgrades and green financing.
Currently, households account for a substantial 27% of final energy consumption. With Eliq’s platform, clients have achieved remarkable savings of up to 9%, claims the company. It is evidence that its technology can drive energy efficiency and cost reduction in homes across the globe.
“We need to talk about Open Energy Data,” says Håkan Ludvigson, CEO and co-founder of Eliq. “We want to empower 1 billion individuals to be part of the home energy transition for a greener and more affordable energy future. We see immense potential in the wealth of energy data at our disposal, and with the transformative force of digitalisation, along with the recent EU directive underlining the importance of this, we’re changing the way we understand home energy usage.”