Sympower Funding Crosses EUR 25 Mn to Help RE Expansion, Power Networks in Europe

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The total funding of the Amsterdam-based Sympower has reached to EUR 25 million as the start-up in climate tech has received a fresh funding of EUR 3 million as the company delves in technology that helps to balance the supply and demand of electricity across networks. The start-up is expected to expand across Europe. The new funding is actually the Series B funding which will help Sympower to further the cause of Europe to achieve net-zero.

Sympower had raised about EUR 22 million recently. The fresh round of funding was led by Activate Capital along with Rubio Impact Ventures and PDENH- an investment management firm that specializes in venture capital and private equity investments.

As per Sympower, Expon Capital and Rockstart had also participated in the initial round in summer. Simon Bushell, Founder and CEO, Sympower, said, “As we offer our flexibility services to more of Europe, we are grateful for the continued support from our investors. This trust has allowed us to further our ambitions as we implement our growth strategy, and help overcome the current energy crisis and secure a climate positive future for Europe.”

The onslaught of climate change and the current energy crisis created fromt the Russian-Ukrainian war has pushed Europe to transition to a green and renewable energy system. Sympower is coming up with new approaches and technologies to change the grids and help green transition of energy.

The climate tech start-up is building smart and cleaner proprietary platform that balances power supply and demand across networks that helps in more stable renewable energy system. The company works with businesses, grid operators, asset owners and energy players to reduce their carbon emissions. Sympower has about 1 GW distributed energy assets under its management comprising about 200 industrial and commercial clients.

Helmer Schukken, Managing Partner, Rubio Impact Ventures, said, “As an impact venture capital fund, when our business opportunities grow, so does our impact. That’s how we know we’re doing the right thing by investing in Sympower. By providing them with more funding, we’re able to contribute more to the energy transition and a sustainable future.”