Swiss Smart Grid Solution Company DEPsys Raises Additional CHF 2 Million of Funding
18.01.2018 | news
Puidoux, January 15, 2018 – After an initial Series-A financing round of CHF 3 million in 2016, DEPsys raises CHF 2 million of additional funding from its current investors Statkraft Ventures and VNT Management, as well as from a new investor, the Swiss single family office Wecken & Cie. This helps further developing the company’s smart grid solution and strengthening its position in the European market. The products and services help grid operators to seamlessly integrate the increasing amount of renewable energy and electric vehicles.
While the initial financing allowed to industrialize the GridEye solution and to set up a professional organization, the additional funding will accelerate the development of the applications and further develop the market presence internationally.
With this financing, DEPsys has set up a very strong investor base that lays the foundation for the next two-digit multi-million funding round with additional renowned investors to prepare its upcoming globalization and to position itself as a global market leader with a unique technology.
"Our solution matured significantly in the past 18 months and we have developed a clear vision of the power grid of the future." says DEPsys CEO Michael De Vivo. "We have signed a number of very important international agreements and contracts in 2017. This funding gives us the ability to further strengthen our competitive advantage and expand our reach."
"We are really impressed how DEPsys grew so rapidly from a prototype-stage start-up to a dominant player with dozens of customers internationally. We are happy to continue our support for Michael De Vivo and his great team”, says Stefan Hülsen, Senior Investment Manager at Statkraft Ventures GmbH and Member of the DEPsys board.
"The DEPsys solution has the potential to become the leading real-time control platform for the management of low voltage grids. Distribution System Operators will especially benefit from its plug-and-play concept, its easy installation and the absence of a grid model, which avoids cumbersome regular updates." says Peter Auner, Partner of VNT Management.
Power grids require a balance between energy generation and consumption. Due to the energy transition, simultaneous generation from photovoltaic installations or simultaneous charging of electric vehicles exert additional pressure on the balance of the power grid and, at worst, can provoke dangerous situations and potential failure in energy supply. The DEPsys GridEye smart grid solution monitors, stabilizes and optimizes the power grid in the new era, using high-precision measurements and advanced control algorithms in a fully decentralized architecture.
DEPsys SA is a Swiss technology company founded in 2012, establishing thought leadership in the energy market. It provides modular, scalable and evolutive solutions enabling traditional low-voltage power networks to cope with the constraints of decentralized production from renewable energy sources, such as photovoltaic systems, and from high loads, such as electric vehicle charging stations.
About Statkraft Ventures
Statkraft Ventures GmbH is a European venture capital firm working with exceptional entrepreneurs disrupting the energy sector. The company is exit-driven and backed by the Statkraft Group, Europe’s largest producer of renewable energy. Statkraft Ventures invests on common venture capital terms. The company operates in an evergreen structure with EUR 10 million to invest each year.
About VNT Management
VNT is one of the first venture capital management companies in Europe that focuses on clean technologies, in particular, renewables, electrical systems, and energy savings. They are active in the Nordics and German-speaking countries. At present, VNT has three funds (Power Fund I, II, III) with a total investment capital of €157million under management. VNT mainly invests in technology-orientated start-ups and growth companies in Europe. VNT executives possess core experience in the power conversion and control industry, providing essential added value to the target companies of VNT funds. Wide business experience, active management, and values based on fair play make up the cornerstones of VNT.
About Wecken & Cie
Wecken is a single family office located in Basel, investing in startup companies with high growth potential focusing on internet, software, technology, and medical systems in Germany and across Europe.
Marc Schreiber, Marketing & Communications
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