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.
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
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