Copenhagen-based startup Hybrid Energy, which develops intelligent electrical panels powered by an AI energy cloud, has raised €2.4 million to support energy management across Europe. The investment was co-led by BackingMinds and Transition, as Vestbee was informed.
- Established in 2023 by Thomas Skovby, Morten Primdahl, Søren Holkenfeldt Behrendt Berg, and Johannes Torpe, Hybrid Energy develops intelligent electrical panels powered by an AI-driven energy cloud.
- Hybrid Energy's solutions offer businesses real-time management and full transparency of electricity, water, and heating systems, helping reduce energy consumption and costs.
- The company is live at 15 sites across various industries in Denmark and reports that its platform reduces energy consumption by an average of 30% for real estate and industrial companies, helping balance the energy grid and reduce CO2 emissions.
"We are changing that with Hybird. We want to help make infrastructure more manageable by surfacing actionable data and we want to provide tools to simplify and improve daily operations for businesses," Morten Primdahl, CTO and co-founder of Hybird Energy, commented in a press release.
Details of the deal
- The investment was co-led by BackingMinds, a Swedish early-stage venture capital firm, and Transition, a UK-based climate VC.
- Existing investors, including 2degrees and EIKON Capital, also participated in the round. New investors include Notion Capital, along with business angels such as Oliver Rye, Louise Krogh Rindom, and Jeppe Rindom.
“Hybird’s technology has a real chance to make a significant impact on our energy grid — not in 10 years, but today. The combination of an experienced founding team and a truly refined product experience — from hardware to software to the end user, really stood out to us," Claims Jasenko Hadzic, Principal at BackingMinds.
- The funding will help Hybrid Energy scale its operations, enhance automation in its energy platform, and expand into water and heating controls, creating a comprehensive energy management solution. It will also support the company's growth across Europe, balancing the energy grid and reducing CO2 emissions.