A Munich, Germany based startup, GreenCom that offers white label solutions for energy service companies and utility industries has secured €12 million funding on 2nd December 2020.
The funding round was led by Shell Ventures and included participation from Japanese VC, EEI (Energy and Environment Investment) and the existing investors of the company. They intend to use the investment for enabling the international expansion of GreenCom and enhancing their pioneering position as the leader of residential energy based IoT enterprise in Europe. The newly raised investment will also be used in capturing markets outside Europe and establish connection of GreenCom with inverter, battery storage and heat pump manufacturers in Asia.
The startup is based on its secure and scalable software technology that enables the user to excess customer centric service models like flexible revenue, energy flat rates, heating as a service, home energy management, energy communities and dynamic tariffs. With GreenCom the users can conveniently and easily manage the energy they use, share energy with their communities using a single platform and optimizing costs.
The company is already partnering with several companies like Centrica for offering new digital energy world services. Centrica is a global energy service and solutions company and GreenCom powers the home energy management platform to the UK based customers of Centrica. Also it is successfully managing and connecting more than 3 MW of decentralized energy asset capacity for one of the smart city districts in Cologne that contains around 700 apartments.
The CEO of GreenCom networks, Christian Feisst said, “With EEI and Shell Networks we have found two preeminent investors towards our future. Shell has extensive experience in the field of distributor energy market and has a track record of really impactful investments. EEI being only venture capital in Japan focusing on GreenTech, puts in a strong gateway and deep knowledge of distributed asset manufacturer landscape and energy in Japan which is among one of the the rapidly liberalizing and greening power markets across the world.”
About GreenCom Networks
GreenCom Networks is one of the leading Greentech IoT Companies with its offices across Sophia-Antipolis, France, Germany and Munich. The company has developed energy systems of the future since its establishment in 2011. The eibp platform of GreenCom for energy information brokerage helps in integrating the distributed assets like battery storage units, heat pumps, electric vehicle charges, and solar PV systems. It also offers visualization and optimization of energy flows in houses.
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