GreenCom Networks has secured a funding round led by London and Sydney-based the Macdoch Group, with a participation from existing shareholders Munich Venture Partners and SET Ventures.

The funds will be used to further strengthen GreenCom’s position as an Energy Internet of Things (IoT) provider in the European energy market and beyond.

GreenCom is providing its Energy Information Brokerage Platform to utilities and energy service companies, including OEMs of energy-relevant devices. As a company, GreenCom combines unique strengths from a deep understanding of the future energy markets and its telco technology background with the experience of managing millions of devices connected to an Energy IoT.

By utilising GreenCom’s platform, customers can offer new digital energy services to their residential customer base. As the energy industry is facing a significant shift from oil and gas towards electricity and from central power generation towards distributed generation, battery storage, and electric vehicles, intelligent software is essential to enable a smart and sustainable future energy supply. With its end-to-end Energy IoT offering, GreenCom integrates distributed assets like solar inverters, heat pumps, battery storage or electric vehicles from a large variety of vendors to enable such new digital energy services.

GreenCom’s Energy Information Brokerage Platform is using artificial intelligence to predict the behaviour of connected assets and to optimise their usage. Depending on the services GreenCom’s customers are offering, the platform supports local or central optimisation, eg, within GreenCom’s virtual power plant application. Just recently, GreenCom announced its offering of an energy community engine that allows customers to connect with each other virtually.

“Macdoch is not just a financial investor for us. The Macdoch Group has excellent relationships in the Australian market. And that’s a very interesting one that we are actively looking at,” says Christian Feisst, CEO of GreenCom.

“GreenCom has a unique offering that paves the way for the future energy transition. We invested because we recognise the company’s unique capabilities and we see significant synergies with our other business activities,” says John Thorpe, Director Macdoch UK.

https://www.privateequitywire.co.uk/2018/04/17/263289/macdoch-group-leads-fundraising-round-greencom-networks