Amsterdam-headquartered cleantech startup FlexiDAO lands 7-digit funding, uses blockchain to solve real-world problems

Amsterdam-headquartered cleantech startup FlexiDAO lands 7-digit funding, uses blockchain to solve real-world problems

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FlexiDAO, a cleantech startup born in Barcelona and now headquartered in Amsterdam was created to accelerate the transition towards a decarbonised and decentralised energy industry, leveraging on blockchain applications.

In a recent move, the company has secured a seven-digit seed round led by their new investor SET Ventures along with the existing investor KIC InnoEnergy.

Founded in 2017 by energy engineers Simone Accornero (IT) and Grzegorz Bytniweski (PL) and by economist Joan Collell (ES), FelxiDAO is on a mission to effectively coordinate millions of distributed energy resources on the grid.

Simone Accornero, CEO, and co-founder at FlexiDAO said:

Renewable energy tracking is the first use case that demonstrates the commercial value of blockchain in the energy sector today.

Harnessing the power of blockchain technology

For the uninitiated, the company provides a software platform for Energy Retailers that harnesses the power of blockchain technology to provide energy data management tools needed to offer new smart energy services.

Track energy consumption

The cleantech company has already partnered with six leading utilities, including Iberdrola and Acciona, allowing them to offer a corporate social responsibility service to C&I customers.

Moreover, the customers can select preferred local renewable energy plants and track the matching of this green energy with their consumption on an hourly basis.

FlexiDAO’s provenance tool is tracking more than 4GWh of energy, applied to PPAs, green tariffs, onsite generation, or electric vehicles. This platform also offers utilities white-label blockchain applications on top of a middleware platform that can access any blockchain infrastructure in an enterprise-grade, secure way.

Accornero added: 

However, FlexiDAO’s mission reaches beyond this initial step: we want to effectively coordinate millions of distributed energy resources on the grid and accelerate the energy transition. We are excited to partner with SET Ventures to leap jump towards that goal.

Headquarters in Amsterdam!

Apart from maintaining its presence in Barcelona, FlexiDAO moved its headquarters to Amsterdam to be present in one of the leading European cleantech and blockchain cities

Julia Padberg, Investment Manager at SET Ventures, said:

FlexiDAO is already a leader in the rapidly emerging energy blockchain space, being one of the first players that are rolling out a blockchain-enabled application at scale. We are very proud to join and support this excellent young team on their growth journey.

The company is supported by accelerators KIC InnoEnergy and Rockstart and is an affiliate member of the Energy Web Foundation.

Main image credit: FlexiDAO

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