Tibo Energy Secures $6.5 Million in Seed Funding

Tibo Energy, an Eindhoven-based developer of AI-driven software for industrial and commercial energy management, has secured $6.5 million in Seed funding. The company's platform aims to help businesses unlock additional energy capacity from existing infrastructure by simulating and controlling decentralized energy grids.

The round was led by KOMPAS VC. Participating investors included Hitachi Ventures and WEPA Ventures, alongside existing investors SET Ventures and Speedinvest. This funding follows Tibo Energy's platform launch in late 2023, which has since been deployed on over 30 industrial sites across Europe.

Tibo Energy's platform integrates an Energy System Simulator with a real-time Energy Management System (EMS) powered by its proprietary optimization algorithm, Alice. This system updates control schedules every five minutes and dynamically adjusts energy flows based on live data, forecasted prices, and contract constraints. The technology is hardware-agnostic, supporting various asset types and configurations, including solar, batteries, and EV charging. It enables users to coordinate local production and consumption, monitor energy use, and automate decisions to optimize solar generation, avoid peak load penalties, and reduce operational costs.

Grid congestion currently limits business growth in the Netherlands, with companies experiencing multi-year delays for grid upgrades and facing penalties for peak loads. Similar challenges are emerging in Germany and Spain. Tibo Energy's software aims to address these issues by steering local energy assets in real time to unlock extra capacity without requiring grid upgrades.

"Infrastructure limitations shouldn’t hold back the energy transition. With our AI engine Alice at the core, Tibo enables industrial players to leverage unused capacity, predict risks, and optimize in near real-time," commented Remco Eikhout, CEO and Co-founder of Tibo Energy.

The new capital will be used to expand Tibo Energy's operations into Germany and Belgium. The company also plans to double its team over the next 12 months, with hires in engineering, sales, and product development. Product expansion will include new plug-and-play modules for use cases such as fleet charging coordination, e-boiler control, and advanced visualization.

Competitors in the industrial and commercial energy management system market include established technology providers such as Siemens and Schneider Electric, which offer comprehensive energy management and automation solutions for industrial sites. Other specialized firms also focus on optimizing energy use and grid integration for businesses.