Gorilla, an energy technology business, has just received €6 million in a new round of funding for its software that aids energy companies in going net zero. The company, which was founded in Belgium, will utilize the cash to grow its personnel and scale its product.
The €6 million was raised in a Series A round with participation from the transatlantic venture capital fund Beringea and the Belgian government-sponsored PMV, along with the participation of VLAIO.
The energy industry as a whole is receiving a lot of criticism as energy prices rise, supply problems develop, and the harsh winter weather takes a toll. A quick switch to green energy is necessary now more than ever, and it is already underway. According to Bloomberg’s special research on Energy Transition Investment Trends 2022, energy corporations will invest three times as much in the switch to 100% green, renewable energy by 2025 and twice as much by 2030.
The proliferation of data among energy corporations, which is used to influence decision-making, and startups that are developing original ideas and solutions are both contributing to the transformation.
Smart meters, wind farms, solar panels, and other green energy solutions produce vast volumes of data that must be processed for the green transition to proceed quickly.
Gorilla, a Belgian-born startup, is here to assist with that and has recently received further funding to scale the goal.
“The impact of climate change is growing faster than ever,” says Ruben Van den Bossche. We are at a critical juncture in our history. Gorilla is here to assist the energy sector in quickly and cost-effectively becoming carbon neutral.
Gorilla, a subsidiary of Belgian IT firm November Five, has been in operation since 2018 intending to assist energy providers in achieving net zero while creating cutting-edge, sustainable solutions for their customers.
Its cloud-based data processing platform enables users to process massive volumes of data without the need for specialized IT skills, allowing energy organizations to achieve unprecedented levels of performance and efficiency.
Gorilla co-founder and CEO Ruben Van den Bossche: “The energy revolution is also changing how the energy market functions. The creation of new price structures and product offerings is made simple for energy companies by our data-driven solutions. In turn, this promotes more adaptable and sustainable energy use and aids consumers in controlling their energy costs. Consider creative IoT and electric vehicle options. Additionally, some options maximize the utilization of already-built infrastructure, requiring less money overall.
Major energy providers including British Gas, ScottishPower, Shell Energy, and Engie have already signed on as clients for the startup. These corporations make use of the platform to produce insights about the production and use of energy, which clearly illustrates how startup-corporate cooperation can be crucial to the world’s transition to clean energy.
“The Gorilla team has designed a collaborative, cloud-based, high-performance modeling platform, which gives 100 times more performance than older spreadsheet-based solutions,” said Eyal Malinger, Partner at the investment firm Beringea. It has never been more important to give our energy sector digital tools that can manage the increased complexity and volatility that comes with this shift since energy companies are confronting exponential growth in data processing needs. Gorilla accomplishes just this, and we look forward to the next stage of its development.
At present, Gorilla employs 40 people at its offices in Antwerp, London, and Melbourne. The company intends to significantly grow its sales and technical teams, as well as its product range, with this latest capital raising.
Image Credit: Gorilla