London-based Renewabl, a climate tech startup, announced on Wednesday, July 24, that it has raised a multi-million investment in a seed funding round led by Finnish clean energy investor — Helen Ventures.
This funding round also includes support from Encevo Group, Toyota Ventures, Nesta, Enery, and reinvestment from PortfoLion and QVentures, alongside continuous backing from the South Pole.
“More than ever, businesses seek traceability in clean energy commitments and alignment with ESG criteria set by over 80% of asset managers,” says JP Cerda, CEO and co-founder of Renewabl.
“With our recent fundraising success, our investors endorse our solution as a credible path forward in increasing the adoption of carbon-free electricity. We look forward to expanding our innovative offerings with their support,” adds Cerda.
Fund utilisation
With this funding, the company will be able to utilise distributed ledger, data analysis, and AI forecasting capabilities to drive the transition of the corporate world to renewables and achieve the Net Zero targets.
The company has plans to expand to strategic European countries such as Spain, Italy, France, and Germany, and to accelerate the development of two pivotal components of the platform:
- Renewabl Track: An advanced SaaS tool designed for visualising and evaluating consumption data and renewable energy portfolios. This climate management and accounting software focuses on energy, hourly CFE score, and Scope 2 and 3 emissions.
- Renewabl Trade: A tendering platform and marketplace enabling companies to procure optimal and impactful renewable energy solutions directly from suppliers & power producers.
The company’s energy procurement advances benefit buyers with real-time energy matching and adaptive pricing, streamlining sustainability goals. Suppliers can expect expanded revenue streams and market reach, fostering a sustainable energy ecosystem.
The announcement comes a year after raising funding in 2023 from South Pole, PortfoLion, and Q Ventures.
Last year, the company deployed a state-of-the-art digital platform for time-stamped, location-based green energy certificates to ensure traceability to the source.
Renewabl: Accelerating the adoption of renewables
Founded in 2023 by Juan Pablo Cerda and Nick Martyniuk, Renewabl is accelerating the adoption of renewables through an advanced technology platform.
This platform allows businesses to analyse their clean energy portfolio and trade temporal-matched solutions based on their consumption profile.
The company focuses on data-driven solutions to streamline energy procurement, reduce Scope 2 & 3 emissions, and mitigate greenwashing risks.
The investor
Helen Ventures invests €50 million in the most innovative and transformative European startups in the energy, e-mobility, circular economy, decarbonization, and digital solutions space. Helen Ventures is the corporate venture capital arm of Helen Ltd.
“It is our privilege to join the Renewabl team in their impressive growth story. Consuming clean electricity that matches on an hourly or 15-minute basis is fast becoming an imperative for net-zero-aligned companies – with good reason – whereas tracking and procuring this energy is a challenge,” remarks Mikael Myllymäki, Vice President and Head of Helen Ventures.
“We have a strong belief in Renewabl supporting their customers in this transition. Their excellent platform, early commercial traction, and team with great credentials align with our expectation of what is needed to build the winning solution in this market,” adds Mikael.
