Denmark-based firm Float, which develops AI software that tracks household electricity use and estimates the cost of running individual appliances, has raised funding from Rockaway Ventures and Denmark’s state investment fund Export and Investment Fund of Denmark, as Vestbee was informed. The financial details of the deal are not disclosed.
- Launched in 2024 by Jens Brandt Nellegaard and Victor Richter Grabow, Float develops software that analyzes household electricity consumption using machine-learning models. The system processes aggregated meter data to estimate how much energy individual appliances consume and how much they cost to operate.
- The results are delivered through a mobile app that shows a breakdown of electricity use across categories such as heating, EV charging, and household appliances, alongside an AI agent that answers questions about consumption patterns and billing.
“Energy markets have faced a long-term trust problem. Customers often don’t understand their electricity bills and only discover the real costs in hindsight. We built Float to change that model, giving people clearer insight and easier control over their usage in real time,” explains Jens Brandt Nellegaard, co-founder and CEO of Float.
Details of the deal
- The fresh funding will allow Float to expand its market rollout, scale its AI-driven platform, and open its service to up to 1,000 beta households after an initial pilot. The company aims to provide homeowners, particularly those with high levels of electrification such as EVs or heat pumps, with detailed, real-time energy insights.
