Dutch startup Tibo Energy has raised €3 million in seed capital from SET Ventures, a Dutch venture capital company, and Speedinvest, an Austrian early stage investor.
The company said the capital will be used to expand the software company’s sales, marketing, and development teams for international growth, and to further develop its products.
Founded in 2022, Tibo Energy has developed a cloud-based software that enables its commercial and industrial (C&I) customers to manage on-site energy generation, usage, and storage,
“We have many PV partners using our software for complex simulations. Our customers are seeking solutions to combine battery storage, heat pumps, and EV chargers. They cannot rely on simple spreadsheets to manage the various systems,” Tibo Energy CEO Remco Eikhout told pv magazine, adding that the software can save hours of work, going from days to just hours.
Popular content
The software functions include load forecasting and planning, monitoring of assets and performance in real-time, use of forecasted data, such as day-ahead pricing, and adjustments based on dynamic price signals. It has integrated data about power and contract limits.
“Our customers need our simulation and forecasting tools based on historical usage data to make decisions or [when] establishing business cases,” said Eikhout.
The company has a software-as-a-service (SaaS) business model. Its Dutch partners include energy services providers BAM Energy Systems and Anexo Energy, as well as wholesaler Alius, and installer Hoppenbrouwers
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.