Tallinn-based energytech firm MarkeDroid, which optimizes household energy use and trading, has secured €300,000 in a bridge funding round led by the Estonian Business Angels Network (EstBAN).
- Founded in 2023 by Toomas Teesaar and Toomas Kärner, MarkeDroid develops virtual power plant (VPP) solutions for households.
- The platform aggregates and optimizes distributed energy resources, including solar panels, batteries, and electric vehicle chargers, by analyzing real-time electricity prices, weather forecasts, and consumption patterns.
- MarkeDroid’s system determines when it is most efficient for a household to consume, store, or sell electricity, allowing users to participate in energy markets and contribute to grid stability.
- The technology operates on a cloud-based, asset-agnostic network, connecting individual households into a coordinated virtual power plant that manages energy flows at both the local and broader network levels.
Details of the deal
- The bridge round was led by EstBAN, with co-leads Jana Budkovskaja of Beamline Accelerator and angel investor David Clark of Tera Ventures, as part of EstBAN’s program to support promising startups from the Latitude59 pitch competition, where MarkeDroid was among the top three finalists.
- MarkeDroid will use the €300,000 to expand its distributed energy platform across Europe, develop microgrid flexibility projects with transmission operators, and enhance tools for coordinating residential and commercial energy usage.
- The funding will also support operational growth, including new leadership hires, to strengthen the company’s capacity for managing distributed energy resources.
