GreenCom Networks raises €12M Series C led by Shell Ventures
Breaking news at Ecosummit Zoom today: Founder CEO Christian Feißt unveils the €12M Series C of GreenCom Networks led by Shell Ventures and supported by new co-investor Energy & Environment Investment (EEI), Japan’s leading smart green VC making its first investment in Europe. With the help of EEI, GreenCom is already working on entering the Japanese market and talking to potential customers. Existing investors Centrica, Future Energy Ventures, Munich Venture Partners and SET Ventures, who all happen to be Ecosummit 2020 sponsors, participate in the new financing round of their portfolio star. The Munich-based company was founded in 2011, employs 65 energy, software and innovation experts, has a very strong management team and enjoys increasing commercial traction. In fact, GreenCom launched its Series C at our first Ecosummit Zoom 6 May 2020 and announced the closing 7 months later at our 8th Ecosummit Zoom 2 December 2020. Celebrating this funding milestone and our productive friendship, Christian just renewed their Ecosummit 2021 sponsorship. That’s the way we like it.
GreenCom Networks focuses on residential energy IoT and licenses their Energy Information Brokerage Platform (EIBP) to utilities around the world to manage PV systems, batteries, heat pumps, EV chargers and other smart home energy devices. Competitors include Kiwigrid, GridX and Autogrid and it looks like GreenCom is signing deals with a growing number of major customers for large projects. In Germany’s residential heating as a service market, GreenCom is a software supplier and minority shareholder in the new joint venture GETEC Green Heating which aims at replacing hundreds of thousands of old electric storage heaters with new ones that are controlled in realtime by GreenCom’s EIBP platform. After the acquistion of Shine from Innogy in 2019, GreenCom invested significantly in further product development and is now able to operate sophisticated energy communities on behalf of its utility customers. A key partner for managing smart green energy communities is Berlin-based Lumenaza that bills and balances the supply and demand of renewable energy and operates the complex electricity market communication.
We’re very happy for the founders, employees, investors and customers and think that GreenCom Networks is looking at a bright future with big impact on the global energy transition. One trajectory may even lead to an IPO at one of Europe’s leading stock markets.
Tags: Autogrid, Centrica, Cleantech VC, Ecosummit Zoom, Energy Communities, Energy Environment Investment, Energy IoT, Eon, Future Energy Ventures, GETEC Green Heating, Greencom Networks, Gridx, Home Energy Management, Impact Investing, Japan, Kiwigrid, Lumenaza, Munich Venture Partners, renewable energy, SET Ventures, Shell Ventures, Shine, Smart Green Energy, Smart Green Startup, Smart Green VC