SET Fund III

SET Fund III, managed by Amsterdam-based SET Ventures, is a venture capital fund established in 2018 that focuses on early growth-stage investments in the energy sector. The fund targets innovative companies that are transforming the energy system through smart software and services, emphasizing areas such as energy generation, distribution, storage, and efficiency. SET Ventures prioritizes investments in clean technology and sustainable energy solutions that encompass various sources, including solar, wind, and biofuels, as well as advanced technologies for energy management and storage. The firm typically invests between €0.5 million and €6 million per portfolio company, with a strong preference for active involvement in governance through board representation. Since its inception in 2007, SET Ventures has committed to supporting European technology companies that contribute to the future of energy systems.

Anton Arits

Managing Partner

Anton Arts

Managing Partner

Wouter Jonk

Co-Founder & Managing Partner

Victoria Mcivor

Associate

Leonie Mekel

Operations Manager

Julia Padberg

Partner

Rene Savelsberg

Co-Founder & Partner

Till Stenzel

Partner

40 past transactions

FlexiDAO

Series A in 2022
FlexiDAO specializes in developing software for the energy sector. It offers utilities white-label blockchain applications on top of a middleware platform that can access any blockchain infrastructure in an enterprise-grade, secure way. The company is driven by a mission to effectively coordinate millions of distributed energy resources into the grid. FlexiDAO is supported by SET Ventures, accelerators KIC InnoEnergy, and Rockstart and is an affiliate member of the Energy Web Foundation. FlexiDAO was founded in 2017 and is headquartered in Barcelona, Spain.

Trunkrs

Series B in 2022
Trunkrs is offers same-day delivery to webshops, is investing in the electrification of the distribution and distribution centers.

Hydrogrid

Venture Round in 2022
HYDROGRID GmbH, founded in 2016 and based in Vienna, Austria, specializes in developing software solutions for hydro power control and dispatch. The company offers a B2B SaaS platform that enables hydroelectric power plant owners to optimize production planning and align their output with market demand and weather conditions. This intelligent management system significantly increases revenue and renewable energy production while simplifying complex processes such as power trading, grid management, and water management. By doing so, HYDROGRID helps businesses reduce their daily operational workload, enhancing overall efficiency in the hydropower sector.

Instagrid

Series B in 2022
Instagrid GmbH, founded in 2018 and based in Stuttgart, Germany, specializes in the manufacture of portable battery storage solutions. The company develops software-defined battery systems designed to provide advanced portable power supplies. Its products cater to various sectors, including construction, event technology, professional landscaping, garden and tree care, and public services, addressing the need for reliable and efficient power sources in diverse applications.

Sensorfact

Venture Round in 2022
Sensorfact offers smart energy savings in the manufacturing industry. The company is a smart advisor for the industry who translates sustainability to day-to-day language and specific actions. No complex sensor technology, no complex software and no complex business models. We make sustainability understandable and transparant.

Ease-Link GmbH

Series A in 2022
Easelink is developing and industrializing a highly efficient and powerful connection system to automate and accelerate electric vehicles'​ charging process and to kill users'​ pain of constantly plugging- in and out. The company industrializes MATRIX CHARGING®, the first automated conductive charging technology that has no moving parts outside of the vehicle. It‘s stationary and it‘s scalable. MATRIX CHARGING® has been developed to foster smart living through outstanding charging technology

Energyworx

Venture Round in 2021
Energyworx B.V. is a software company that specializes in developing a Software-as-a-Service platform focused on energy data management and intelligence solutions. Established in 2012 and headquartered in Houten, the Netherlands, with an office in Houston, Texas, Energyworx aids utility companies in navigating and monetizing the energy transition. Its platform offers various services including grid optimization, consumer engagement, energy management, and device control, as well as energy efficiency and trading. Additionally, the company provides solutions for monitoring energy theft, billing data, and meter data management. By correlating and analyzing diverse data sources, Energyworx enables organizations to gain real-time insights, optimize their operations, and make informed business decisions in the evolving energy landscape.

Green Eagle Solutions

Series A in 2021
Green Eagle Solutions provides SCADA Solutions for wind farms and solar plants. They believe the SCADA is the most important part of any renewable energy facility. Without SCADAs to manage the energy that is produced and distributed, the world would not work as it does today. They wanted to prove that a very complex industry could benefit from incorporating modern and digital tools to improve efficiency and simplify the management processes.

MicoShade

Series H in 2020
MicroShade is a Danish cleantech company founded in 2003 as a spin-off from the Danish Technological Institute. At MicroShade they have developed a passive membrane that, when put in between a 2- or 3-layer glass, provides optimal solar shading. At the same time it ensures the best possible view out and pleasant daylight conditions. Together, these parameters raise the quality of the indoor climate significantly.

Trunkrs

Funding Round in 2020
Trunkrs is offers same-day delivery to webshops, is investing in the electrification of the distribution and distribution centers.

Energyworx

Venture Round in 2020
Energyworx B.V. is a software company that specializes in developing a Software-as-a-Service platform focused on energy data management and intelligence solutions. Established in 2012 and headquartered in Houten, the Netherlands, with an office in Houston, Texas, Energyworx aids utility companies in navigating and monetizing the energy transition. Its platform offers various services including grid optimization, consumer engagement, energy management, and device control, as well as energy efficiency and trading. Additionally, the company provides solutions for monitoring energy theft, billing data, and meter data management. By correlating and analyzing diverse data sources, Energyworx enables organizations to gain real-time insights, optimize their operations, and make informed business decisions in the evolving energy landscape.

Instagrid

Series A in 2020
Instagrid GmbH, founded in 2018 and based in Stuttgart, Germany, specializes in the manufacture of portable battery storage solutions. The company develops software-defined battery systems designed to provide advanced portable power supplies. Its products cater to various sectors, including construction, event technology, professional landscaping, garden and tree care, and public services, addressing the need for reliable and efficient power sources in diverse applications.

General Fusion

Series E in 2019
General Fusion Inc. develops commercial Magnetized Target Fusion, a hybrid between magnetic fusion and inertial confinement fusion for transforming energy supply. It also develops scale subsystems, including scale plasma injectors, acoustic drivers, and liquid metal vortex compression tests. The company was founded in 2002 and is based in Burnaby, Canada.

Minibems

Venture Round in 2019
Minibems is a demand management system for complex heating systems that enables improved efficiency and fuel cost savings thanks to intelligent control and monitoring technology, paired with integrated billing.

FlexiDAO

Seed Round in 2019
FlexiDAO specializes in developing software for the energy sector. It offers utilities white-label blockchain applications on top of a middleware platform that can access any blockchain infrastructure in an enterprise-grade, secure way. The company is driven by a mission to effectively coordinate millions of distributed energy resources into the grid. FlexiDAO is supported by SET Ventures, accelerators KIC InnoEnergy, and Rockstart and is an affiliate member of the Energy Web Foundation. FlexiDAO was founded in 2017 and is headquartered in Barcelona, Spain.

MicoShade

Series G in 2019
MicroShade is a Danish cleantech company founded in 2003 as a spin-off from the Danish Technological Institute. At MicroShade they have developed a passive membrane that, when put in between a 2- or 3-layer glass, provides optimal solar shading. At the same time it ensures the best possible view out and pleasant daylight conditions. Together, these parameters raise the quality of the indoor climate significantly.

GreenCom Networks AG

Series C in 2019
GreenCom Networks AG operates an online energy information brokerage platform (eibp) that enables new energy business models for utilities, ESCOs, and OEMs. It offers eibp connect that connects and controls distributed energy assets; eibp boost that visualizes and optimizes energy flows; eibp mesh, which connects customers to energy communities; eibp empower that develops energy tarrifs; and eibp cluster that leverages the power of distributed assets. GreenCom Networks AG as founded in 2011 and is based in Munich, Germany.

DEPsys

Series B in 2019
DEPsys is a Swiss technology company establishing thought leadership in the energy market. It provides evolutive solutions enabling traditional low-voltage electricity networks to cope with the new constraints of decentralized production from renewable energy sources, such as photovoltaic systems and wind turbines, as well as emerging storage technologies. DEPsys is located in Puidoux in the French-speaking part of Switzerland on the Lake Geneva shore, a region called Lavaux, known for its vineyard terraces, a UNESCO World Heritage Center.

GreenFlux

Series B in 2018
GreenFlux B.V., based in Amsterdam, Netherlands, specializes in providing charging points and services for electric vehicles. With over five years of experience, the company aims to enhance the convenience and accessibility of electric driving for users across more than ten countries, including Germany, the United Kingdom, Norway, and the United States. GreenFlux has developed a cloud-based smart charging platform and smart charging controllers designed to offer scalable solutions that optimize efficiency and reduce costs while maintaining high service standards.

MicoShade

Series F in 2018
MicroShade is a Danish cleantech company founded in 2003 as a spin-off from the Danish Technological Institute. At MicroShade they have developed a passive membrane that, when put in between a 2- or 3-layer glass, provides optimal solar shading. At the same time it ensures the best possible view out and pleasant daylight conditions. Together, these parameters raise the quality of the indoor climate significantly.

Limejump

Series A in 2017
Limejump Limited is an energy technology company based in London, United Kingdom, that specializes in developing and operating a Virtual Power Plant (VPP) platform. Founded in 2012, Limejump provides optimized access to the energy market for customers with electricity generating or consuming assets. The VPP platform integrates various components, including cloud-based software and analytical tools, to connect with assets, analyze performance, and optimize operations. Limejump's offerings include participation in the Balancing Mechanism, which aids the National Grid in managing electricity supply and demand, as well as Power Purchase Agreements (PPAs) that enhance the value of electricity generation. The company also offers frequency response products, enabling generators and energy users to maximize their operational efficiency. As of early 2019, Limejump operates as a subsidiary of The Shell Petroleum Company Limited, focusing on empowering businesses and generators to engage actively in the energy market while promoting a sustainable energy future.

GreenCom Networks AG

Series B in 2017
GreenCom Networks AG operates an online energy information brokerage platform (eibp) that enables new energy business models for utilities, ESCOs, and OEMs. It offers eibp connect that connects and controls distributed energy assets; eibp boost that visualizes and optimizes energy flows; eibp mesh, which connects customers to energy communities; eibp empower that develops energy tarrifs; and eibp cluster that leverages the power of distributed assets. GreenCom Networks AG as founded in 2011 and is based in Munich, Germany.

Luxexcel

Series C in 2017
LUXeXceL Group B.V. develops 3D printing technology to print ophthalmic lenses. It manufactures ophthalmic lenses which includes design custom, create aspheric lens design, lenses with slab-off, specialty lenses, and bas curve for lenses. The company also provides optics design, optical prototyping, small series production, and large-scale manufacturing services. It serves customers ranging from small companies to large-scale OEM partners in various markets. The company was founded in 2009 and is based in Eindhoven, the Netherlands.

MicoShade

Series E in 2017
MicroShade is a Danish cleantech company founded in 2003 as a spin-off from the Danish Technological Institute. At MicroShade they have developed a passive membrane that, when put in between a 2- or 3-layer glass, provides optimal solar shading. At the same time it ensures the best possible view out and pleasant daylight conditions. Together, these parameters raise the quality of the indoor climate significantly.

Elmodis

Funding Round in 2017
We improve energy and operating efficiency of electric-powered industrial machines by offering an end-to-end hardware/ software solution that enables manufacturers and end-users to remotely monitor performance of their machines in real time.Elmodis was founded by an experienced team of engineers that had worked for more than 15 years for European industrial customers in the areas of machine monitoring and diagnostics, predictive maintenance and energy efficiency. During the course of that work the team developed a novel way of machine monitoring based only on measuring current and voltage from electric engines powering those machines.

Energyworx

Seed Round in 2016
Energyworx B.V. is a software company that specializes in developing a Software-as-a-Service platform focused on energy data management and intelligence solutions. Established in 2012 and headquartered in Houten, the Netherlands, with an office in Houston, Texas, Energyworx aids utility companies in navigating and monetizing the energy transition. Its platform offers various services including grid optimization, consumer engagement, energy management, and device control, as well as energy efficiency and trading. Additionally, the company provides solutions for monitoring energy theft, billing data, and meter data management. By correlating and analyzing diverse data sources, Energyworx enables organizations to gain real-time insights, optimize their operations, and make informed business decisions in the evolving energy landscape.

Sonnen

Series D in 2016
Sonnen offers solutions which are much more than only storage and includes many additional benefits like active energy management, smart metering and virtual power plant integration. Different system sizes are offered, optimally customized to the requirements of residential homes, agricultural farms and commercial firms. Sonnenbatterie was introduced to the German and Austrian markets in January 2011 as one of the first proven and transportable intelligent lithium storage systems.

MicoShade

Venture Round in 2016
MicroShade is a Danish cleantech company founded in 2003 as a spin-off from the Danish Technological Institute. At MicroShade they have developed a passive membrane that, when put in between a 2- or 3-layer glass, provides optimal solar shading. At the same time it ensures the best possible view out and pleasant daylight conditions. Together, these parameters raise the quality of the indoor climate significantly.

Luxexcel

Series B in 2015
LUXeXceL Group B.V. develops 3D printing technology to print ophthalmic lenses. It manufactures ophthalmic lenses which includes design custom, create aspheric lens design, lenses with slab-off, specialty lenses, and bas curve for lenses. The company also provides optics design, optical prototyping, small series production, and large-scale manufacturing services. It serves customers ranging from small companies to large-scale OEM partners in various markets. The company was founded in 2009 and is based in Eindhoven, the Netherlands.

General Fusion

Venture Round in 2015
General Fusion Inc. develops commercial Magnetized Target Fusion, a hybrid between magnetic fusion and inertial confinement fusion for transforming energy supply. It also develops scale subsystems, including scale plasma injectors, acoustic drivers, and liquid metal vortex compression tests. The company was founded in 2002 and is based in Burnaby, Canada.

Sonnen

Series B in 2014
Sonnen offers solutions which are much more than only storage and includes many additional benefits like active energy management, smart metering and virtual power plant integration. Different system sizes are offered, optimally customized to the requirements of residential homes, agricultural farms and commercial firms. Sonnenbatterie was introduced to the German and Austrian markets in January 2011 as one of the first proven and transportable intelligent lithium storage systems.

MicoShade

Series D in 2014
MicroShade is a Danish cleantech company founded in 2003 as a spin-off from the Danish Technological Institute. At MicroShade they have developed a passive membrane that, when put in between a 2- or 3-layer glass, provides optimal solar shading. At the same time it ensures the best possible view out and pleasant daylight conditions. Together, these parameters raise the quality of the indoor climate significantly.

Luxexcel

Series A in 2013
LUXeXceL Group B.V. develops 3D printing technology to print ophthalmic lenses. It manufactures ophthalmic lenses which includes design custom, create aspheric lens design, lenses with slab-off, specialty lenses, and bas curve for lenses. The company also provides optics design, optical prototyping, small series production, and large-scale manufacturing services. It serves customers ranging from small companies to large-scale OEM partners in various markets. The company was founded in 2009 and is based in Eindhoven, the Netherlands.

Sefaira

Series D in 2013
Sefaira is the leader in software for high-performance building design. Following years of innovation in the application of cloud computing for building design, Sefaira was the first company to introduce real-time design performance analysis to the benefit of architects, engineers and other building designers. With Sefaira, users can analyze and compare multiple design strategies within a fraction of the time and cost previously required. This includes defining, quantifying, and optimizing the energy, daylighting, water, carbon and financial benefits of relevant design strategies. Sefaira's Real-Time Analysis plugins provide constant feedback on both energy & daylighting metrics as architects work. This frees users to test unlimited design options without worrying about the time or cost of analysis. Sefaira’s Web Apps for architecture and systems are built for comparative and parametric analysis. Cloud computing enables multiple parallel runs with no reduction in speed -- letting you explore options quickly and home in on the best solutions. Sefaira Architecture makes it easy to understand how a design is performing, and helps users connect the dots between geometry, energy use, daylight performance and potential improvements. Sefaira Systems produces high-quality HVAC sizing and energy results directly from architectural Revit and SketchUp models, enabling users to rapidly compare design options and respond to architectural changes. Sefaira’s awards include 2014 Architizer A+ Award, 2014 Architosh AIA Best of Show Award and being included in the 2014 Global Cleantech 100. Sefaira also won Gold at the 2013 Ecosummit award in Berlin as well as the “Green Building Innovation of the Year” award at London’s Ecobuild 2011. It was included in the Red Herring Top 100 Europe list in 2013 and Going Green Global Top 200 private companies in 2012. Sefaira has offices in London and New York.

MicoShade

Series C in 2012
MicroShade is a Danish cleantech company founded in 2003 as a spin-off from the Danish Technological Institute. At MicroShade they have developed a passive membrane that, when put in between a 2- or 3-layer glass, provides optimal solar shading. At the same time it ensures the best possible view out and pleasant daylight conditions. Together, these parameters raise the quality of the indoor climate significantly.

Sefaira

Series A in 2012
Sefaira is the leader in software for high-performance building design. Following years of innovation in the application of cloud computing for building design, Sefaira was the first company to introduce real-time design performance analysis to the benefit of architects, engineers and other building designers. With Sefaira, users can analyze and compare multiple design strategies within a fraction of the time and cost previously required. This includes defining, quantifying, and optimizing the energy, daylighting, water, carbon and financial benefits of relevant design strategies. Sefaira's Real-Time Analysis plugins provide constant feedback on both energy & daylighting metrics as architects work. This frees users to test unlimited design options without worrying about the time or cost of analysis. Sefaira’s Web Apps for architecture and systems are built for comparative and parametric analysis. Cloud computing enables multiple parallel runs with no reduction in speed -- letting you explore options quickly and home in on the best solutions. Sefaira Architecture makes it easy to understand how a design is performing, and helps users connect the dots between geometry, energy use, daylight performance and potential improvements. Sefaira Systems produces high-quality HVAC sizing and energy results directly from architectural Revit and SketchUp models, enabling users to rapidly compare design options and respond to architectural changes. Sefaira’s awards include 2014 Architizer A+ Award, 2014 Architosh AIA Best of Show Award and being included in the 2014 Global Cleantech 100. Sefaira also won Gold at the 2013 Ecosummit award in Berlin as well as the “Green Building Innovation of the Year” award at London’s Ecobuild 2011. It was included in the Red Herring Top 100 Europe list in 2013 and Going Green Global Top 200 private companies in 2012. Sefaira has offices in London and New York.

NGenTec

Venture Round in 2010
NGenTec is a spinout company from the University of Edinburgh's School of Engineering, where the technology was pioneered by the firm's founders, Dr Markus Mueller and Dr Alasdair McDonald. The company, which was incorporated in 2009, aims to become the leading supplier of direct drive permanent magnet generators to the renewable energy sector.

PhotoSolar

Venture Round in 2010
PhotoSolar A/S specializes in developing and marketing advanced, transparent solar shading and photovoltaic solutions. Our mission is to create a good working environment and reduce energy consumption in modern buildings with large glass facades, using aesthetic and maintenance-free solar shading. PhotoSolar is a technology and knowledge-based company working in partnership with a number of knowledge centres, including the Danish Technological Institute. The company was founded in 2003.

AlertMe

Series B in 2010
AlertMe.com Ltd. offers an open, cloud-based platform called Omnia that connects a variety of devices and appliances to enable users to monitor, control, and automate their homes in Europe and the United States. The platform integrates multiple devices, services, and data, creating a cohesive ecosystem for home automation. Key offerings include Energy Analytics, which assists customers in understanding their energy usage and bills, and Home Energy Control, which manages heating, cooling, and connected appliances for enhanced efficiency. Additionally, the Home Automation solution allows users to customize interactions among connected devices, such as sensors, cameras, locks, and lighting. Founded in 2006 and based in Cambridge, United Kingdom, AlertMe was acquired by British Gas Services Limited. The company's technology aims to simplify the connected home experience, making it affordable and reliable for users while promoting energy savings and sustainability.

EnOcean

Venture Round in 2009
EnOcean GmbH, founded in 2001 and based in Oberhaching, Germany, specializes in energy harvesting technology and wireless sensor solutions for building and industrial automation. The company develops and markets a range of products, including energy converters, wireless sensors, controllers, and software, which facilitate energy-efficient applications in home automation, lighting, industrial settings, automated meter reading, and environmental monitoring. EnOcean's innovative self-powered wireless technology captures energy from the environment, allowing for the creation of long-range radio frequency signals without the need for batteries. The company distributes its products across numerous countries, including various regions in Europe, North America, and Asia, thereby catering to a global market for energy-efficient solutions.
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