gridX: The smart connection of more households with the energy market
gridX, the Aachen / Munich-based company behind the popular energy community, has successfully completed a Series A round of a mid-seven-figure amount. The round was led by new investors innogy Ventures and coparion. The previous investors, which also include Vito ONE and Gabor Cselle, also participated in this round. With the investment, gridX intends to further develop its core technology stack and, above all, to smartly connect more households with the energy market.
In addition to an intelligent power distribution within the community, the gridX algorithm also ensures efficient use of energy within a household. The gridBox has a smart home connection, analyzes the consumption of individual large energy consumers and informs the owner within the gridX app if the energy consumption can be lowered or if devices are damaged. The application visualizes all relevant energy data and gives users complete control over their energy balance. The future-oriented energy management is completely controlled via the gridBox, no additional hardware needs to be installed. Customers of gridX can thus significantly reduce their electricity rate and optimize their feed-in.
“The goal of gridX is to become the central platform for energy producers and consumers so that all tasks such as energy management, electricity procurement and monitoring are bundled in a vendor-independent solution. The focus is always on the advantages for the customer and his satisfaction. As a result, customers can save electricity and optimize their energy production, ”
David Balensiefen, CEO and Co-Founder of gridX
gridX was founded in mid 2016 by Andreas Booke and David Balensiefen. The gridX team, with 24 employees at offices in Aachen and Munich, faces the transformation of the entire energy sector. With a common, digital platform for electricity producers and consumers, the young company is leading its customers into the future of energy supply. The core component is an intelligent control box that links the individual members of the community. The gridBox is manufacturer-independent and the enabler for intelligent management of larger energy producers within a home. gridX is committed to building the world’s leading interoperability technology for generating plants (solar, heat pumps) and storage, as well as charging stations.
About innogy Ventures
As part of the innogy Innovation Hub, the venture fund ‘innogy Ventures’ focuses its investments on later stage venture capital opportunities. We collaborate on areas where we have natural synergies and where we can offer portfolio companies access to relevant people and business areas within the innogy Group to support their competitiveness or accelerate their growth. Find here more information about innogy Ventures