Sweden’s Engrate raises €2.5M to plug Europe’s energy sector into a greener, smarter future

Stockholm-based Engrate has secured €2.5M in funding led by global VC firm Maniv to accelerate digital integrations for energy companies transitioning to renewable sources.

Founded by Anna Engman and Richard Eklund in 2024, the energy tech startup is focused on simplifying grid flexibility solutions through its digital platform.

The funding will be directed towards further platform development, with a specific focus on simplifying digital integrations for energy companies aiming to increase grid flexibility. The company plans to enhance its technology capabilities to support the broader energy transition towards renewable sources.

The round attracted participation from Eviny Ventures, part of Norwegian renewable energy solutions provider Eviny, and Swedish VC firm Course Corrected. Early investors, including Norrsken, NP-Hard Ventures, Pia Irell, Maex Ament, and Philip Stehlik, also supported the company’s initial development phase.

Digitising Europe’s energy sector transformation

Engrate’s platform addresses the critical need for digital infrastructure in the energy sector as it adapts to rapidly changing market dynamics.

The European energy sector is undergoing unprecedented transformation, with renewable energy capacity expected to triple by 2030 according to EU climate targets. Engrate’s solution focuses on connecting energy sector stakeholders digitally to enable faster integration of renewable energy sources into existing grid infrastructure.

Strategic investor expertise backing energy innovation

Lead investor Maniv brings substantial experience in backing transformative transportation and energy startups, with a portfolio focused on mobility and energy infrastructure companies. The firm’s strategic support includes both capital and industry expertise crucial for scaling energy technology solutions.

Nate Jaret, partner at Maniv, says, “We believe Engrate’s capabilities represent a critical node in the comprehensive digitisation of a sector that must quickly adapt to changing market dynamics. With a spectacular founding team and clear vision, we are confident the company will continue to deliver world-class technology solutions and are delighted to join Engrate’s journey ahead.”

€2.5M roadmap: accelerating green transition technology

The investment represents a significant milestone for the recently founded company as it develops solutions for one of Europe’s most critical infrastructure challenges.

Engrate’s approach centres on creating digital connections within the energy sector to facilitate smoother integration of renewable energy sources and improve overall grid flexibility.

The funding will enable the company to expand its platform capabilities and support more energy companies in their transition to sustainable operations.