Green tech start-up secures £1m investment for energy-saving app
A green app aimed at saving energy has secured more than £1m of investment.
Manchester-based green tech start-up, enee.io, has been developed as a fitness tracker for energy systems.
It comprises plug-and-play IoT monitors, a mobile phone application, and an online reporting platform.
The system monitors energy generation, storage, and consumption. This provides homeowners and business users with information on the efficiency of the complete energy system, alerting them to any issues so corrective action can be swiftly taken, helping to reduce their energy costs.
Access to grid power is a major issue for many developing countries, with an estimated 900 million people worldwide without access to any electricity – enee.io aims to help bridge that gap by reducing the cost of owning a renewable power system, making it more affordable and reliable and helping increase access for millions of people.
To date, the enee.io system has been installed in 12 countries across five continents.
The system has secured more than £1m of investment in its latest funding round led by Green Angel Syndicate and US venture development firm Factor[e].
Green Angel Syndicate is the UK’s largest network of specialist investors fighting climate change. Factor[e] supports early stage entrepreneurs and aims to improve lives in the developing world through increased access to sustainable energy and related services.
Their investment, alongside a grant from Innovate UK’s Energy Catalyst 8 competition, will enable enee.io to further develop and scale its energy management platform, which includes six new hires in the next six months in both software development and operations.
David Smith, founder and CEO at enee.io, said: “We’re extremely proud and privileged to have secured funding from both Green Angel Syndicate and Factor[e]. Their ethos is very much aligned with ours – to improve access to renewable power, particularly for those in developing countries.
“Their investment, alongside the grant from Innovate UK, is a very positive endorsement of the enee.io team and the solution we have created. We are now very much focused on developing our system which we believe will have a significant impact on both the future of energy management in the UK and globally.”
Cam Ross, CEO of Green Angel Syndicate, said: “Our network of specialist members was impressed with enee.io’s team and technology, and their ability to bring reliable, cheaper electricity to more of the world. At scale, the enee.io approach will make a substantial impact on carbon dioxide and other highly polluting greenhouse gases.”