Home Business & Finance Digital energy firm Tibber raises $65 mln in funding round
Digital energy firm Tibber raises $65 mln in funding round

Digital energy firm Tibber raises $65 mln in funding round

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Tibber, with over 100,000 paying households in Norway, Sweden and Germany, said it would use the funds to invest further in its platform and expand geographically, starting with the Netherlands next year

STOCKHOLM: Nordic digital electricity company Tibber said on Tuesday it had raised $65 million in a funding round led by Eight Roads Ventures and Balderton Capital to help it expand into new markets.

Tibber, whose online app provides real-time analytics into energy usage and pairs with smart home devices to reduce electricity consumption, said existing investors, including San Francisco-based Founders Fund, also participated in the funding round.

Tibber, with over 100,000 paying households in Norway, Sweden and Germany, said it would use the funds to invest further in its platform and expand geographically, starting with the Netherlands next year.

“Our idea is to empower consumers to one day become independent from the electric grid and slow-moving monopolies”, said Tibber CEO Edgeir Vardal Aksnes in a statement.

Including the latest financing round, Stockholm-based Tibber, which was founded in 2016, has raised $81.5 million to date.

Source: reuters
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Anand Gupta Editor - EQ Int'l Media Network
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