Envelio, a Germany-based grid management software spinout from RWTH Aachen University, secured €1m ($1.2m) on Monday in a round backed by public-private partnership High-Tech Gründerfonds (HTGF) and private equity firm Demeter.
Founded in 2017, Envelio has developed a software called Intelligent Grid Platform that enables electricity distributors to automate power flow management.
The platform uses machine learning algorithms to process network data and alerts the operator to any grid changes, making it easier to manage intermittent energy sources such as…