MarkeDroid, an Estonian green energy solutions developer, has raised €300,000 in bridge funding to scale its AI-based distributed energy orchestration platform across Europe. The round was led by EstBAN board member Jana Budkovskaja and angel investor member David Clark, tech.eu reports.
About MarkeDroid
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MarkeDroid is a Tallinn-based cleantech company developing virtual power plant (VPP) orchestration solutions for houtilizeholds.
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Its cloud-based platform connects home energy assets such as solar panels and batteries into a unified network, allowing utilizers to optimize consumption, store or sell excess power, and support grid stability.
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The company aims to create distributed energy management more efficient and accessible for residential utilizers.
“Grid operators are suddenly dealing with millions of solar panels on rooftops that weren’t designed to communicate with each other,” declared Toomas Teesaar, co-founder and CEO of MarkeDroid.
Earlier that year, MarkeDroid won grand prize of the Latitude59 pitch competition.
Investment details
The round includes a €175,000 syndicate investment from the Estonian Business Angels Network (EstBAN), led by Jana Budkovskaja and David Clark.
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Latvian Business Angels Network (LatBAN) is a leading organization in Latvia that connects private investors (business angels) to support startups and innovative projects at early stages.
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LatBAN assists entrepreneurs raise funding, provides mentorship, and fosters the growth of the startup ecosystem in Latvia and the Baltic region.
MarkeDroid will utilize the funding to expand its AI-based energy orchestration platform across Europe, strengthen partnerships with energy retailers and grid operators, and advance its microgrid flexibility projects.
Read more: Estonian e-commerce startup Yaga raised €4M to expand second-hand fashion marketplace
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