Tibber, a smart energy startup based in Norway, has raised $100 million in a Series C fundraising round. Tibber’s new funding is slated to significantly bolster the product offering lineup, with the ultimate goal of driving smart up and fossil fuel dependences down. Offering consumers not only access to renewable energy supplies but also a host of smart home devices to keep tabs on it. Tibber has raised $181.5 million in a mix of equity and debt funding to date.
“One of the most crucial problems in the future decades is the shift to renewable and sustainable energy sources. Tim He, a former investment director at Kinnevik and currently a partner at Summa, said, “Tibber’s service directly targets several of the UN SDGs, and they do it while satisfying their clients.”
Tibber has acquired substantial popularity in Norway, Sweden, and Germany since its inception in 2016, and it is now eyeing the Netherlands as its next market entry. Tibber’s real-time energy consumption analytics software helps consumers across Europe not only keep track of how many watts they’re using but also empowers them to make better decisions about how they’ll use that energy in the future.
And they’re doing it in a way that avoids yesterday’s business model, which relied on the profit earned from client usage.
“What if we just got rid of everything awful, unjust, and annoying about an industry that’s stuck in the past and turned it into something fit for the future, fit for now? That’s exactly what we thought, and it’s exactly what we did. Welcome to a company that cares about the environment”, – quoting Tibber directly.
“To properly control their energy consumption, consumers want improved tools. Smart analysis for houses, smart charging for electric automobiles, and smart heating for connected thermostats are all things we’ve done first. We plan to develop new products with this money to lower usage further and make homes more self-sufficient from the national grid,” says co-founder and CEO Edgeir Vrdal Aksnes.
Tibber has seen a considerable surge in consumer interest, with member numbers roughly quadrupling from around 120,000 to over 400,000 by 2021.
Image Credit: Tibber