KTH startup secures SEK 5 m growth capital
The Stockholm based startup Greenely is closing its first venture capital round and secures SEK 5 m - a new board and expansion is top of the agenda.
Greenely was founded in 2014 at KTH by Fredrik Hagblom, Tanmoy Bari and Mohammed Al Abassi and the company was supported by KTH Innovation and business coach Donnie SC Lygonis in developing the idea. Today Greenely has already made a name for itself on the Swedish enegy market and aims to be the obvious choise for Swedish households when it comes to digital energy experiences.
– We want to encourage households to cut down on their energy usage and to that end we have developed a system that visualises the consumers' energy behaviour, says Tanmoy Bari, CEO of Greenely.
In order to strengthen the companys standing on the market they have now taken yet another important step by appointing an experienced board led by Klas Gustafsson, partner at the Sustainable Technologies Fund.
– I am looking forward to working with Greenely and think that the company has a good opportunity to win an interesting place on the ever changing energy market, says Klas Gustafsson.
New board - new opportunities
Tanmoy Bari tells us that some of the funds will be used on a marketing drive to expand on the Swedish energy market, and to enhance and develop the service. The company also wants to recruit more staff, develop and grow, something that will be achievable with the new board.
– It's a wonderful mix of people who will contribute broad competence in their own way, he says.
Other investors in the company are Thomas Martinsson (founder of Lemontree), Peter Alvarsson (founder of Headweb, CTO at Storytel) and Fredrik Ljung (founder of Ljung & Sjöberg). The existing external owners, KTH Holding och KIC InnoEnergy, share the new investors' belief in the growth potential of the company and chose to take part in this capital round.
KTH Innovation says Well done Greenely!
Emelie Södergren
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