SET Ventures
SET Ventures is an Amsterdam-based venture capital firm founded in 2007 that invests in European energy and renewable sector companies across early to growth stages. It backs digital technology-enabled solutions aimed at carbon-free energy systems, including energy generation, distribution and storage, energy efficiency, and smart energy applications in buildings, industry, mobility, and infrastructure. The firm targets investments in technology-enabled clean energy and sustainability initiatives, often with a focus on smart grid, energy storage, and EV/green building applications, and seeks to support portfolio companies with strategic guidance, including board participation. Typical check sizes range from approximately €0.5 million to €6 million per company over the life of participation. SET Ventures concentrates on Europe and prioritizes companies that combine software and hardware components to create scalable energy solutions.
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Past deals in Electricity
ETPA
Venture Round in 2024
ETPA operates a trading platform specifically designed for short-term electricity trades, emphasizing participants' capacity. The company provides a user-friendly platform that allows trade participants to execute trades independently or via third parties. ETPA's offerings include intraday, day-ahead, weekly, and weekend contracts, enabling participants to optimize their energy portfolios and leverage flexibility in production processes. Committed to supporting a more sustainable energy future, ETPA ensures transparency and independence within the short-term electricity market, facilitating liquidity and efficiency for its users.
ESFORIN
Series B in 2023
ESFORIN SE is a fully digital energy company, offering modularly integrable energy solutions – for both, power and gas.
ETPA
Venture Round in 2022
ETPA operates a trading platform specifically designed for short-term electricity trades, emphasizing participants' capacity. The company provides a user-friendly platform that allows trade participants to execute trades independently or via third parties. ETPA's offerings include intraday, day-ahead, weekly, and weekend contracts, enabling participants to optimize their energy portfolios and leverage flexibility in production processes. Committed to supporting a more sustainable energy future, ETPA ensures transparency and independence within the short-term electricity market, facilitating liquidity and efficiency for its users.
Flexidao
Series A in 2022
Flexidao develops software that uses blockchain technology to trace and certify electricity from production to consumption. This enables businesses to understand the carbon footprint of their energy usage, facilitating the procurement of cleaner electricity and driving operational decarbonization.
ESFORIN
Series A in 2021
ESFORIN SE is a fully digital energy company, offering modularly integrable energy solutions – for both, power and gas.
Flexidao
Seed Round in 2019
Flexidao develops software that uses blockchain technology to trace and certify electricity from production to consumption. This enables businesses to understand the carbon footprint of their energy usage, facilitating the procurement of cleaner electricity and driving operational decarbonization.
GreenCom Networks
Series C in 2019
GreenCom Networks AG is an energy IoT company based in Munich, Germany, with a focus on developing innovative solutions for the energy sector since its founding in 2011. The company operates an Energy Information Brokerage Platform that integrates various distributed energy assets, including solar panels, battery storage, electric vehicles, and heat pumps. Its platform offers several services, such as eibp connect for managing and controlling energy assets, eibp boost for visualizing and optimizing energy flows, eibp mesh for connecting customers to energy communities, eibp empower for developing energy tariffs, and eibp cluster for enhancing the capabilities of distributed assets. By providing these tools, GreenCom Networks enables utilities and energy service companies to improve customer engagement and introduce new digital energy services.
Limejump
Series A in 2017
Limejump, established in 2012 and headquartered in London, specializes in operating a Virtual Power Plant (VPP) platform that optimizes energy market participation for customers with electricity-generating or consuming assets in the UK. The company's platform integrates cloud-based software, smart devices, and analytical tools to connect assets, send signals, and analyze performance. Limejump offers services such as access to the Balancing Mechanism, Power Purchase Agreements, and frequency response products. By leveraging big data analytics and insights, the company empowers businesses and generators to create new revenue streams and contribute to a greener energy future. Limejump connects customers to National Grid's demand response programs, compensating them for shifting or reducing energy usage to maintain grid balance. As of 2019, Limejump operates as a subsidiary of Shell Petroleum.
GreenCom Networks
Series B in 2017
GreenCom Networks AG is an energy IoT company based in Munich, Germany, with a focus on developing innovative solutions for the energy sector since its founding in 2011. The company operates an Energy Information Brokerage Platform that integrates various distributed energy assets, including solar panels, battery storage, electric vehicles, and heat pumps. Its platform offers several services, such as eibp connect for managing and controlling energy assets, eibp boost for visualizing and optimizing energy flows, eibp mesh for connecting customers to energy communities, eibp empower for developing energy tariffs, and eibp cluster for enhancing the capabilities of distributed assets. By providing these tools, GreenCom Networks enables utilities and energy service companies to improve customer engagement and introduce new digital energy services.
Elmodis
Funding Round in 2017
Elmodis enhances energy efficiency and operating performance of electrically-powered industrial machinery. It offers an integrated hardware-software solution for real-time remote monitoring, enabling manufacturers and users to track machine performance. Founded by seasoned engineers with over 15 years in machine monitoring and diagnostics, Elmodis innovates using current and voltage measurements from electric engines.
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