CHF 13.2m financing round strengthens DEPsys in Smart Grid growth market

14 Feb, 2019

Statkraft Ventures portfolio company DEPsys raised 13.2m Swiss Francs in a Series B financing round. We welcome BNP Paribas as lead investor as well as SET Ventures. All existing shareholders, including Statkraft Ventures, participated in this round. DEPsys is now present in ten markets across two continents and will use the new funding for further international growth.

With the rising use of renewable energies and electro mobility as well as the digitalization of power grids, DEPsys' unique GridEye solution is in strong demand. The versatile control platform allows power grid operators to safely and reliably run distribution grids while being cost efficient. This makes it possible to feed large amounts of renewable energies into their grids from decentralized sources. GridEye also allows for the easy management and control of micro grids and neighbourhood solutions. Distribution System Operators located in Europe and worldwide use the platform to integrate intelligent grid management technologies, made possible by a combination of sensors and a software suite.

Michael De Vivo, CEO of DEPsys: "DEPsys is firmly convinced that supplying the world solely with electricity from renewable sources will be possible in the future. We have set out to accelerate the energy revolution and make it easier for grid operators to optimally control their distribution grids. We have developed an innovative technology solution to drive this mission forward. It is a Swiss Army Knife with all the instruments for Distribution System Operators to transform their energy challenges into a success story, without fear of a complex and expensive transformation processes."

Stefan Hülsen, Senior Investment Manager of Statkraft Ventures comments: “We are proud to support DEPsys and follow its success over the previous years to become the market leader for smart distribution grid solutions it is today. The company offers solutions for most urgent needs of Distribution System Operators with a plug and play approach that can grow with growing needs.”