Dutch start-up Tibo Energy has raised €3m in a seed round to optimise commercial and industrial energy use worldwide.

The money will help Tibo hire more staff and grow internationally.

The firm’s energy management software allows commercial and industrial companies to expand operations without expanding their grid capacity. As commercial and industrial companies’ electrification accelerates, Tibo says it is poised to make a major financial and environmental impact with its energy hub software.

The demand for smart energy management is growing worldwide. Many commercial and industrial companies are responding to the limitation of national energy grids by increasing their ability to generate electricity on-site via assets such as solar panels, heat pumps and batteries.

However, as the amount of these assets increases, the energy system becomes more difficult to manage, often becoming so complex that many companies hire energy consultants to help. Though these consultants often have the same knowledge of the customer, they lack the applications to provide an efficient and cost-effective option from a system perspective.

Tibo has built energy management software to solve these problems. Energy professional can simulate complex systems, and at every installation can create an energy hub. Tibo’s software-only platform, powered by machine learning, gives companies control of smart energy networks, helping them transition to local smart energy grids and move away from fossil fuel-based sources. This means they can de-risk their energy supply and transform to a more sustainable operating model.

“We are proud to have achieved this funding as a team,” said Tibo Energy co-founder and CEO Remco Eikhout.

The round is backed by European energy VC SET Ventures, early-stage VC Speedinvest, and Tibo Energy’s founding team.

“The impact and commercial potential of our software is huge, and we’re glad to have a pair of world-renowned investors on board who understand that potential and will help us drive it forward,” said Eikhout. “We’re greatly looking forward to the future.”

Rene Savelsberg, partner at SET Ventures, added: “The opportunity for Tibo is huge. We’ve seen the rate of electrification accelerate in recent years. Since 2019, 167GW of distributed solar panels has been added to the energy mix, with the majority coming from installations at C&I customers like those Tibo is targeting. Their ability to turn energy assets into a local smart grid will enable these companies to electrify quicker and optimise for price and CO₂ impact. Their easily deployable cutting-edge technology is a real game-changer.”

Energy storage capacity in Europe is expected to increase by 400GWh between 2024 and 2030, enough to power approximately 4200 factories for one year. At the same time, many industrial processes are becoming electrified, leading to a change in the energy demand of these companies. This forces them to go through the time-consuming and costly process of upgrading their grid capacity.

With Tibo, complex modelling, simulation and control becomes simpler, allowing companies to create digital versions of their network to simulate scenarios and visualise a smarter grid. This means they can go electric and install renewable assets while avoiding costly grid expansion.

“Since the soft product launch in 2023, the strong demand for Tibo’s product underscores the pressing need for tackling grid congestion and empowering smarter grids,” said Namratha Kothapalli, principal at Speedinvest. “We’ve been very impressed by Remco Eikhout and the team’s entrepreneurial, energy and technical backgrounds. Coupled with their unique market insights, the company is positioned as a key player in advancing toward a more resilient and sustainable energy future.”

This round of funding will be used by Tibo Energy (tibo.energy) to expand its sales, marketing and development teams to enhance the product and drive national and international growth.