Skip to main content

trade with estonia

Estonian startup Gridio secures €2.4M to expand across Europe

Gridio

Gridio founders Konrad Hanschmidt and Sandor Liive. Photo: Gridio

Estonian smart charging software developer Gridio has raised €2.4 million in a seed funding to expand its smart charging product across Europe.

The funding round was led by Neoinvesteeringud, with participation from Encevo, Smartcap, Renergy and existing investors.

“Already today, we have tens of millions of electric cars, batteries and solar panels that are active on the grid, but are not used when it makes most sense for the consumer and the grid,” said Konrad Hanschmidt, Co-founder and CEO of Gridio. “The market incentives are there, but the complexity of energy markets for ordinary consumers, combined with a patchwork of different devices, brands and apps, means that this huge opportunity is simply left under-utilised.”

Gridio targets quadrupling user base

Founded in 2018 by Konrad Hanschmidt and Sandor Liive, Gridio is a software-driven platform innovating energy management for consumers and energy providers. By seamlessly integrating connected energy devices with electricity markets, Gridio encourages users to optimise energy use, reduce costs, and accelerate the transition to a sustainable energy system. Gridio has more than 30,000 users of its service across mobile apps and aims to quadruple that by next year.

“Our mission is to simplify energy decisions for everyone—consumers and providers alike. This funding allows us to bring our vision to life at scale, helping millions of households and energy providers benefit for being actively part of the energy markets, with no hassle.”
Konrad Hanschmidt, Co-founder and CEO of Gridio

The company’s app-led software suite integrates with a wide range of energy hardware—including most EV and solar inverter brands, and first home batteries—uses intelligent software to optimise energy consumption in real-time. By automating energy use during cheaper and greener periods, Gridio helps customers cut their electricity bills while contributing to grid stability – all without any need for extra hardware.

For energy providers, Gridio offers a plug-and-play platform that allows the roll out of a mobile-based smart EV and solar charging service to its customers in a matter of weeks. “Energy providers are increasingly looking for ready-made solutions to help their customers be smarter about electricity use. Gridio delivers a double benefit: consumers save on their bills, and providers gain better tools to manage and reduce the cost of electricity delivery,” added Konrad Hanschmidt.

The company welcomes three new investors to strengthen its growth strategy

Gridio has welcomed three new major investors into its shareholder group: Neokapital, an Estonian Family office with deep roots in bioenergy; Encevo, a leading and sustainable energy player in Luxembourg and the Greater Region; and Smartcap, a fund investing in Estonian Greentech innovators, backed by the Estonian Government and funded by the NN.

In October 2022, Gridio secured €1 million to develop its smart energy app. Nordic Link Capital, The Sharing Group, and Estonian Specialist VC funds were among the investors.

“We are backing Gridio, as the success of its ambitious roadmap would not only result in a transformed and more cost-effective energy system but also unlock further potential for other clean energy solutions,” added Sille Pettai, CEO and Fund Manager at SmartCap.

“Our mission is to simplify energy decisions for everyone—consumers and providers alike,” said Konrad Hanschmidt. “This funding allows us to bring our vision to life at scale, helping millions of households and energy providers benefit for being actively part of the energy markets, with no hassle.”

Are you interested in trading with Estonia? Enterprise Estonia is providing sourcing services for foreign enterprises. Contact Estonian export advisors or use our free e-consulting service to start trade with Estonia. 

News

ready to trade with estonia?

ready to trade with estonia?

What is it really like to do business in Estonia? How can you benefit from the country’s world-famous e-solutions and unique business culture? What opportunities await you in your sector?

The Trade Estonia team is here to answer all your questions and point you in the right direction.

Request sourcing help