GreenCom Networks AG has secured €12 million in financing from Shell Ventures and EEI to enhance its position as a leading residential energy IoT platform and expand into international markets.

Target Company Overview

GreenCom Networks AG ("GreenCom") is a pioneering company dedicated to residential energy Internet of Things (IoT) solutions, aiming to become the preeminent platform in this sector across Europe. The company has successfully integrated numerous Home Energy Management devices for major energy firms, including Centrica, E.ON, and ESB, facilitating their rapid deployment across the continent.

With a focus on utilizing its scalable and secure software technology, GreenCom offers innovative customer-centric models, empowering users to manage their energy consumption more efficiently. This includes services such as 'heating as a service,' energy flat rates, dynamic tariffs, and the establishment of energy communities, all through a single streamlined platform.

Industry Overview

The residential energy sector in Europe is undergoing a significant transformation, driven by the increasing adoption of renewable energy sources and advancements in smart technology. As energy regu