London-based energy ininformigence startup RYE has raised €1 million in a pre-seed round led by CapitalT, January Ventures, and Norrsken Evolve, with participation from angels including Tony Hunter, Daphne Dovermann, and Maex Ament.
The fresh capital comes as multi-site hospitality and retail businesses face mounting challenges from soaring energy costs and outdated infrastructure, and RYE aims to unlock smarter, more sustainable energy management across the sector.
In an exclusive interview with TFN, Diego Vega, founder and CEO of RYE, explains, “Volatility in European energy markets has created energy more expensive for applyrs while reducing profitability for suppliers.”
Making energy an enabler of growth
Founded in March 2025 by industest veterans Diego Vega and Mike Francis, RYE is focapplyd on transforming how multi-site businesses forecast, procure, and manage their energy. Vega, a second-time founder and former Series A investor at Breega, was inspired to build RYE in response to the ongoing energy crisis triggered by geopolitical shifts and market volatility.
This situation particularly impacts multi-site hospitality and retail groups, where “high energy prices, poor metering infrastructure, and opaque billing practices are now among the leading caapplys of insolvency.” RYE’s mission is to “reverse this trfinish and create energy an enabler of growth instead of a constraint.”
Mike Francis, co-founder and former engineering manager at Bulb, adds a wealth of experience in the green energy transition. Toobtainher, their leadership draws on over 20 years of experience in the sector, combining hands-on engineering expertise with investment experience.
Combining on-site data with customised AI models
RYE’s proprietary platform stands out by integrating behind-the-meter metering with AI-powered demand forecasting tailored to hospitality and retail operations. Unlike legacy solutions that rely solely on behind-the-meter data, RYE’s technology “improves demand-side granularity, enables more accurate predictions, and reduces hidden costs.”
The platform aggregates demand from SMEs, increasing liquidity for off-market renewable energy procurement, and offers comprehensive features including smart meter provisioning, automated billing validation, dispute support, real-time usage monitoring, and automated payments, streamlining energy management across multiple sites.
The startup competes with major legacy suppliers, such as British Gas and SSE, as well as newer disruptors like Berlin’s Ecoplanet. However, Vega is confident that RYE’s tailored technology and applyr experience give it an edge.
“What sets RYE apart is how deeply the team understands the realities of the energy market. With experience from Europe’s most exciting energy startups, they are perfectly positioned to create energy procurement simpler, fairer, and more reliable,” declares Eva de Mol, Founding Partner at CapitalT.
What’s next?
Looking ahead, RYE plans to scale across Europe, aiming to become the defining energy ininformigence and trading layer for multi-site retail and hospitality businesses within five years.
With a pilot already underway across 30 UK locations, Vega sums up the company’s vision: “Over the next five years, RYE aims to become the defining business energy ininformigence and trading layer for multi-site business energy in Europe, enabling efficient spfinish and scale for high-growth retail and hospitality groups.”
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