Swedish Powertech Startup Fever Secures €10M in Seed Funding
February 19, 2024, 12:59 pm
Stockholm-based Fever, a powertech company focused on virtual power plants, has successfully raised €10M in a seed funding round led by General Catalyst. This funding, which brings Fever's total funding to €11.6M, will fuel the company's expansion plans and product development efforts across Europe.
Fever's innovative platform integrates distributed energy assets with advanced software and machine learning capabilities to enhance grid resilience. By predicting, adapting, and optimizing energy distribution with precision, Fever's platform offers flexibility, reduces reliance on foreign gas, and improves energy efficiency.
With a focus on empowering energy asset installers and operators, including utility companies, EV fleets, and Battery Energy Storage Operators, Fever's API-centric platform enables them to run and monetize their virtual power plants effectively. This strategic approach unlocks market participation, capacity modeling, orchestration, reporting, and settlements for these entities.
The addition of Niek den Hollander and Holger Lichtschläger to Fever's Board of Directors brings valuable industry expertise to the company. Den Hollander, a former executive at Uniper and Vattenfall, and Lichtschläger, with experience at E.ON and Uniper, will contribute their insights to Fever's strategic growth.
General Catalyst, a renowned venture capital firm known for supporting innovative founders, has recognized Fever as a key player in transforming global energy markets. With a focus on clean energy solutions, General Catalyst's partnership with Fever aligns with their commitment to a sustainable future.
Norrsken VC, an early-stage fund backing impactful startups, has also shown support for Fever's mission. With a portfolio of companies addressing significant global challenges, Norrsken VC sees Fever's potential to drive positive change in the energy sector.
Fever's successful funding round signifies a strong vote of confidence in the company's vision and capabilities. As the company expands its presence and partnerships across Europe, it is poised to make a significant impact on the energy industry.
Fever's innovative platform integrates distributed energy assets with advanced software and machine learning capabilities to enhance grid resilience. By predicting, adapting, and optimizing energy distribution with precision, Fever's platform offers flexibility, reduces reliance on foreign gas, and improves energy efficiency.
With a focus on empowering energy asset installers and operators, including utility companies, EV fleets, and Battery Energy Storage Operators, Fever's API-centric platform enables them to run and monetize their virtual power plants effectively. This strategic approach unlocks market participation, capacity modeling, orchestration, reporting, and settlements for these entities.
The addition of Niek den Hollander and Holger Lichtschläger to Fever's Board of Directors brings valuable industry expertise to the company. Den Hollander, a former executive at Uniper and Vattenfall, and Lichtschläger, with experience at E.ON and Uniper, will contribute their insights to Fever's strategic growth.
General Catalyst, a renowned venture capital firm known for supporting innovative founders, has recognized Fever as a key player in transforming global energy markets. With a focus on clean energy solutions, General Catalyst's partnership with Fever aligns with their commitment to a sustainable future.
Norrsken VC, an early-stage fund backing impactful startups, has also shown support for Fever's mission. With a portfolio of companies addressing significant global challenges, Norrsken VC sees Fever's potential to drive positive change in the energy sector.
Fever's successful funding round signifies a strong vote of confidence in the company's vision and capabilities. As the company expands its presence and partnerships across Europe, it is poised to make a significant impact on the energy industry.