As per the latest announcement, the two-and-a-half-year-old Antwerp startup June Energy announced a new capital round of €2.1 million recently. Some 5,000 customers already use the technology to switch regularly to a cheaper energy supplier.
June software analyzes the usage with algorithms and artificial intelligence. The software then compares the price one pays to the energy supplier with the offer from other suppliers. If June finds a rate that is cheaper, the software cancels the current contract and arranges a new contract. The customer does not have to fill in forms, although they decide whether they want to switch to the new supplier or not. When June finds a cheaper rate a few weeks or months later, the customer can change again from the energy supplier.