Kiwigrid raises Series C to build global energy IoT platform
Kiwigrid raises a double-digit million Euro Series C from Aqton, Stefan Quandt’s family office that also invested in Heliatek’s Series D, Innogy and LG Electronics to build a global energy IoT platform. The Dresden-based smart green startup won the ECO16 Gold Award in the late stage category and has got over 105 employees. High-Tech Gründerfonds, Germany’s largest seed investor with 80% public money, and Innogy Venture Capital, the old corporate VC fund of Innogy that is in its divestment period, sold their shares completely and celebrate a financial exit with positive returns.
Founded in 2011, Kiwigrid has a strong customer base and competes with AutoGrid, Envision’s Energy OS and other well-funded startups in the US. Therefore, they plan to raise more capital from several strategic investors in the near future. Ideally, Kiwigrid becomes a startup with a multi-utility investor syndicate to stay independent and expand its international market reach. CEO Carsten Bether wants to build an open distributed energy platform with a strong focus on ubiquitous IoT device support, system interoperability and security. That may well be a competitive advantage that is badly needed for long-term success and global impact.
Tags: Aqton, Autogrid, Carsten Bether, Distributed Energy, Dresden, ECO16 Award, Energy IoT, Energy Management, Energy OS, Envision Energy, Heliatek, High-Tech Gründerfonds, Innogy, Innogy Venture Capital, Internet of Things, Kiwigrid, LG Electronics, Smart Green Energy, Smart Grid, Stefan Quandt