Stockholm-based Nrlyze raises funding to cut heat waste in buildings with AI

A Swedish energy tech company raised funding to lower heating bills by 10 to 15 per cent through smart heating control. 

Stockholm-based Nrlyze, an energy tech company tackling heat waste in buildings, has secured SEK 10M (approximately €897K) in a funding round led by VEQ and Aipa Invesco AB, with continued support from existing backers including Peter Carlsson of Northvolt and Martin Anderlind.

Since launching in 2020, Nrlyze has now raised a funding of SEK 15M (approximately €1.3M).

The company will use the funds to scale up its organisation, reach larger customers and build long-term partnerships and accelerate expansion into new markets.

“What we are doing is reducing energy use and thus energy expenses, which are the biggest cost for a property owner. It affects the operating net, which is directly linked to the valuation of the property,” says Lars Hansson, CEO and co-founder of Nrlyze.

Nrlyze: Optimising the energy flow

Heating accounts for the largest share of energy use in Swedish buildings.

According to the company, 40 per cent of Sweden’s total energy consumption goes to operating properties, with heating being the single largest item. 

“At the same time, fundamental problems with the management of our properties lead to a systematic waste of energy,” says the company.

Founded by Lars Hansson and Christian Engstrand in 2020, Nrlyze’s platform combines AI algorithms with on-site hardware to analyse, spot, and fix misconfigured or imbalanced heating systems.

As per the company’s estimates, customers can cut heating bills by 10–15 per cent while improving property value.

At present, the company serves nearly 100 customers, mainly smaller owners and associations, and is now moving upmarket.

The announcement comes as the Swedish firm reported almost SEK 8M in revenue in 2024, up from SEK 4M in 2023, and improved its result from minus SEK 1M to approximately SEK 500,000, reports Digital. 

“This investment lets us scale our team, reach larger portfolios, and expand to new markets. It is a strong vote of confidence in our vision and the hard work of our team,” says Hansson.