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Sweden’s Engrate raises €2.5M to plug Europe’s energy sector into a greener, smarter future
- Stockholm-based Engrate secures €2.5M funding led by Maniv to accelerate digital integrations for energy companies transitioning to renewable sources.
- Founded by Anna Engman and Richard Eklund in 2024, Engrate simplifies grid flexibility solutions through its digital platform.
- The funding will focus on further platform development to simplify digital integrations for energy companies enhancing grid flexibility.
- Participation from Eviny Ventures and Course Corrected, alongside early investors like Norrsken, NP-Hard Ventures, Pia Irell, Maex Ament, and Philip Stehlik.
- Engrate's platform addresses the growing need for digital infrastructure in the European energy sector amid market dynamics changes.
- The energy transition in Europe aims to triple renewable energy capacity by 2030, aligning with EU climate targets.
- Maniv's strategic support brings expertise in backing transportation and energy startups, essential for scaling energy technology solutions.
- Lead investor Nate Jaret sees Engrate as crucial for digitizing the energy sector to adapt to market changes.
- The €2.5M investment represents a milestone for Engrate in developing technology for Europe's critical energy infrastructure challenges.
- Engrate focuses on creating digital connections in the energy sector for smoother integration of renewable sources and grid flexibility.
- Funding will support platform expansion to help more energy companies transition to sustainable operations.
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