Helsinki-based Synergi Raises €2 Million Funding to Drive Energy Flexibility and Support Europe’s Green Transition – Fintech News Europe
Helsinki, Finland – October 8, 2024 – Synergi, a Finnish technology company advancing sustainable energy solutions, has announced the successful completion of its €2 million seed funding round. The round was led by Greencode Ventures, with participation from new investor Vaens, alongside existing backers Lifeline Ventures, APX (the first-cheque investor of Porsche & Axel Springer), and Wave Ventures.
Synergi’s innovative platform addresses the increasing demand for energy flexibility as the EU works toward its ambitious goal of decarbonizing its energy system through electrification and renewable energy adoption. The European Union projects a 60% rise in electricity demand by 2030, primarily driven by electrification. However, this increase, paired with the integration of intermittent renewable energy sources, presents challenges for existing power grids, which will struggle to manage unpredictable demand surges.
To meet these challenges, Synergi launched its platform in 2023, designed to encourage households and utilities to utilize home-energy assets like electric vehicles (EVs), heat pumps, and solar panels flexibly. The platform enables consumers to participate in Virtual Power Plants (VPPs) by aggregating the loads of home energy assets. This flexibility allows consumers to adapt their energy usage during peak times, thereby easing the strain on the grid and supporting a more sustainable energy ecosystem.
The company’s “Synergi app” has already helped thousands of users across Europe optimize their energy consumption, leading to significant cost savings—50% on EV charging and 20% on heating annually. Synergi aims to extend these benefits to utilities, enabling them to capitalize on flexibility markets by aggregating customer-owned energy assets and offering the app as a turnkey solution.
Antti Hämmäinen, CEO and Co-founder of Synergi, emphasized the company’s mission: “We want to help consumers and utilities benefit from providing flexibility to the grid. Previously, this was not possible. Soon, utilities can generate revenue from flexibility markets by aggregating the loads of customer-owned energy assets on the Synergi platform.”
Ines Bergmann-Nolting, Managing Partner at Greencode Ventures, echoed this sentiment: “Energy flexibility is an untapped opportunity. Synergi’s business model has the potential to unite European consumers, utilities, and grid operators, creating resilience for the entire system while balancing the grid.”
With the new funding, Synergi plans to expand its operations into Nordic and central European flexibility markets. The company will also make strategic hires in engineering, sales, and marketing to accelerate its growth and broaden its impact across the energy sector.
About Synergi
Founded in 2023, Synergi is a Finnish tech company focused on accelerating the transition to sustainable energy. Its smart and flexible software platform empowers consumers and utilities to optimize home energy use and contribute to grid stability, paving the way for a greener future.
