Russia's brutal invasion of Ukraine in February 2022 stunned companies that relied on oil and gas energy. Suddenly, renewable energy became essential to survival. But what's the best way to buy one?
This was the germ of the idea behind trawa, a Berlin-based renewable energy supply company that recently raised €10 million in a seed round led by Balderton Capital. This funding round brings the startup's total raised to over €12 million.
Trawa's pitch is to simplify energy purchasing and management for small and medium-sized enterprises (SMEs) by leveraging two things: An AI-powered platform that allows businesses to buy from renewable energy sources and downstream data from the customers themselves about when they need it. Energy is the best.
Due to the ongoing energy crisis in Europe, electricity prices have soared to two to three times higher than in the United States. Rising prices have also affected manufacturing in the euro zone, which has been stagnant for more than a year. Germany's industry is expected to contract by 1.5% this year due to rising electricity costs. Energy prices and interest rates.
Renewable energy can help companies alleviate some of these pains, but despite the desire of many companies to switch to green energy sources, the complexities of defining green energy and securing a reliable supply There is a problem with that.
David Budde, co-founder and CEO of Trawa, came up with the idea of using AI to streamline the supply of green energy while at Bain and Company. He found that both economic issues and sustainability regulations were hitting businesses at the same time.
“Prices skyrocketed, volatility increased, and their core business took a hit. Energy costs rose rapidly, and suddenly their products were no longer profitable,” he told TechCrunch.
“At the same time, the European Commission and the German government were pushing for even stronger regulations. Now companies have to deal with both. In the past few years, if you want green electricity, you have to pay a premium. That's where we come in.”
Budde said Tlawa provides small and medium-sized businesses, which typically don't have energy procurement expertise, the tools to organize their energy purchases. trawa's AI then creates the best combination of power for different products to match the buyer's consumption patterns. The idea is that Trawa can purchase power in installments over time, resulting in significant cost savings.
trawa's management software also allows businesses to incorporate their own rooftop solar power systems and batteries. The startup claims that by combining its AI-powered purchasing and management software, businesses can save up to 30% on annual energy costs.
The startup already has several industrial customers in the DACH region, including textile manufacturer SETEX-Textil, Amano Hotel Group, solar energy company Sunmaxx, logistics company Loxxess and automotive supplier Coroplast Group.
“In the face of the climate crisis and volatile energy price markets, renewable energy is a way for businesses to manage their energy security. Trawa provides businesses with tailored solutions for energy procurement and supports small and medium-sized enterprises. We protect against price explosions, help you get the most out of your investments in assets like smart batteries and solar power, and provide detailed data for ESG reporting,” said Balderton Capital General Partner. , said James Wise. In a statement.
German climate technology investor AENU also participated in the round, along with previous investors Speedinvest, Magnetic and TinyVC.