Berlin-based Frequenz raises additional €10 million to further scale its AI platform for energy management
Summary
Frequenz, an AI platform for autonomous energy management, has closed a 10 million follow-on financing round. Regardless of whether C&I customers rely on classic full-service electricity supply agreements, their own on-site PV and battery storage or green PPAs from wind farms, the Frequenz platform combines it with market access to ensure every KWh is optimized in real-time.This funding round comes at a period of explosive growth for the company. As more companies transition from a passive consumer role to an active prosumer one, there is an increasing need for a tech stack that manages and optimises self-production, asset monitoring as well as real-time market access. With this additional 10 million funding we will continue to enhance the Frequenz platform to build the technology layer for the energy system of the future. Till Stenzel, Partner at SET Ventures adds: The past two years have brought home the message to every business that you cannot stay passive in todays energy markets.