Ecoplanet, an energy management software provider based in Munich, has successfully raised €16 million in a Series A funding round. This investment aims to further develop its AI-powered energy orchestration solution across Europe, facilitating enhanced energy efficiency and aiding companies in navigating the complexities of the ongoing energy transition.
Founded in 2022, ecoplanet specializes in intelligent energy procurement software, which integrates supply and demand-side processes with the energy market. The software is designed to help businesses decrease energy costs, automate their operations, and adhere to regulatory requirements amid a landscape where renewable energy is increasingly becoming a dominant force in Europe’s energy generation mix.
Co-Founder Dr. Henry Keppler emphasized the urgency of the situation: “Energy markets are undergoing a paradigm shift. With renewables already exceeding 50% of electricity generation, a fully integrated energy management system is essential.” He noted that, similar to how households charge electric vehicles when solar energy production is high, businesses must align their energy consumption with peak availability of renewable sources. As the proportion of renewable energy continues to rise, ecoplanet seeks to empower companies to leverage green electricity at optimal times.
Ecoplanet intends to utilize the capital from this funding to scale its operations, expand its geographical footprint, and enhance its software capabilities, particularly focusing on the application of artificial intelligence throughout the energy value chain. Currently, the company manages over 2 terawatt-hours (TWh) of energy consumption across more than 2,000 sites.
Co-Founder Maximilian Dekorsy remarked on the pressing challenges businesses face due to volatile energy costs, suggesting that their software not only helps businesses mitigate expenses but also transforms potential challenges into avenues for growth, securing their long-term viability.
The funding round was led by EQT Ventures, with existing investor HV Capital also contributing. EQT Ventures Partner Sandra Malmberg expressed excitement about supporting ecoplanet in its mission to redefine energy management for European businesses, recognizing the critical market need for their innovative approach.