Belgian renewable software startup Powernaut has raised €2.4 million ($2.5 million) in a pre-seed funding round led by Berlin-based Revent, with participation from several other big European venture capital firms. London’s Seedcamp, Antwerp’s Pitchdrive, and Brussels’ Syndicate One joined Revent to back Powernaut, which is headquartered in Ghent.
Powernaut makes software to integrate decentralized devices, such as solar panels, electric vehicles, batteries, and heat pumps with the electricity grid.
The company was founded in January 2024, but it has moved quickly to carve out a corner in the market around Europe’s push to address its grid constraint problems. Its software balances local generation with the needs of the power grid.
The startup has partnered with companies managing more than 200 MW of decentralized energy assets. Its portfolio includes Dutch EV company Powered by Zeno, Dutch energy management platform Harmony Energy, Belgian plug-and-play home battery maker MyGrid, and grid stability software specialist Nox Energy.
“This investment comes at a perfect time,” said Henrik Grosse Hokamp, partner at Revent. “Powernaut is providing the technology needed to support decarbonization, renewable energy rollout, and decentralization, ultimately phasing out polluting power sources like gas plants.”
Powernaut CEO Florentijn Degroote said that renewable installation without proper grid planning is causing problems.
“Navigating the energy transition is tough sailing, especially with so many renewables being installed without much coordination,” he stated. “Unlike traditional power plants, solar panels and wind turbines rely on fluctuating weather conditions, making our energy production increasingly unpredictable. To effectively add more renewables and keep costs low for everyone, we need to coordinate these smart connected devices effectively – and software and AI are essential in doing so.”
Serge Morel, co-founder and CTO of Powernaut, claimed the company's decentralized system has the potential to annually save consumers and businesses across Europe more than €300 billion, while cutting millions of tons of CO? emissions each year.
“Having our investors on board is crucial – they share our mission, provide capital, and bring valuable expertise from backing Europe's leading unicorns,” he said. “Their support will help us scale quickly.”
