Fever, a Stockholm-based powertech company, has announced a successful €10M seed funding round led by General Catalyst. The round also saw participation from existing investors La Famiglia and Norrsken VC, bringing the total funding to €11.6M. This capital injection will accelerate the company’s expansion plans, deepen product development, and expand collaborations across Europe.
Klas Johansson, Founder and CEO of Fever, expressed excitement about General Catalyst joining their mission to accelerate the transition to a world powered by clean energy while ensuring the European power grid remains secure and resilient. The funding will support the firm’s development of an API-centric platform for virtual power plants, enhancing grid resilience by integrating distributed energy assets with advanced software and machine learning capabilities.
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Enhancing Grid Resilience and Efficiency
The company’s platform aims to predict, adapt, and optimize energy distribution with unprecedented precision, making the grid highly flexible and reducing reliance on foreign gas. It also improves energy efficiency by empowering energy asset installers and operators, such as utility companies, EV fleets, and Battery Energy Storage Operators, to run and monetize their virtual power plants.
New Board Members
As part of the funding round, Niek den Hollander, former Chief Commercial Officer at Uniper, and Holger Lichtschläger, Managing Director and Founder of Global Experts-Energy Consulting, will join the Board of Directors. Their experience is expected to contribute significantly to Fever’s mission and growth.
Investor Confidence in the Startup’s Vision
General Catalyst, a venture capital firm known for supporting founders from seed to growth stage, sees Fever as a key player transforming global energy markets. Genevieve Kinney, partner at General Catalyst, highlighted the deep technical knowledge of Fever’s founding team and the leadership of new board members as reflective of their belief in the power of radical collaboration for democratizing the European energy market.
Norrsken VC, an early-stage fund that backs startups solving the world’s biggest problems, praised Fever’s clear impact-focus and swift product delivery. Fabian Erici of Norrsken VC emphasized the urgency required to transform the power grid and expressed excitement about Fever’s strong momentum.
With this seed funding, Fever is well-positioned to democratize the European energy market, offering innovative solutions to enhance grid resilience and support the transition to clean energy.
