Utrecht-based Leap secures €7.39 million to expand its energy marketplace | EU-Startups
Summary
Leap, a universal distributed energy marketplace, today announced a new capital raise totaling €7.39 million from a combination of equity and debt. “USV has a long history of investing in online networks, marketplaces, and API platforms, and we believe there is a massive need and opportunity to bring these approaches to bear in the energy sector. We are proud to partner with Leap to bring programmability and flexibility to the grid.” “We’re thrilled to have Union Square as the lead investor in our new round,” said Thomas Folker, Leap’s co-founder and CEO. “USV is one of the most highly regarded early-stage investors in tech, with an impressive track record of identifying how networks and marketplaces can disrupt entire industries. USV’s confidence in Leap speaks volumes to how our marketplace can accelerate this transformation by bringing untapped flexible demand from many thousands of end-customers to help balance the grid.” In 2019, Leap announced a partnership with Google Nest to allow its residential smart thermostat customers to contribute demand response services to the grid for the first time.