TLDR:
- Swedish virtual power plant software developer Fever Energy raised $10.81 million in venture capital funding to expand into Europe.
- The Fever platform integrates energy assets into the grid, enabling users to generate revenues with ancillary grid services.
Sweden’s Fever Energy, a software company, is expanding into Europe after a successful launch in its home market. The Fever platform integrates energy assets into the grid, providing users with capacity modeling, orchestration, reporting, and settlements. It also allows users to predict, adapt, and optimize energy distribution. The company’s customers include solar PV asset owners with co-located battery storage.
Fever Energy raised €10 million ($10.81 million) in a seed funding round led by General Catalyst, along with early investors La Famiglia and Norrsken VC. The company has raised a total of €11.6 million in capital. Two new board members, Niek den Hollander and Holger Lichtschläger, joined with the investment. Fever Energy’s business model involves charging a commission on earnings from ancillary services.
Overall, the funding secured by Fever Energy will enable the company to expand its reach into the European market and further develop its virtual power plant software platform to serve a broader range of energy asset owners and operators.
