Tibber, the Sweden-based energy management software provider backed by energy utility BKK, completed a $65m series B round yesterday co-led by Eight Roads Ventures, a subsidiary of investment and financial services group Fidelity.
Venture capital firm Balderton co-led the round, which also featured existing investors including Founders Fund. It came after a $12m series A led by Founders Fund in March 2019 that was also backed by BKK, Wellstreet, RFF Vest and Petter Stordalen.
Founded in 2016, Tibber has developed a mobile app that enables users to access renewable energy at affordable prices while also getting detailed insights into their energy use.
The cash will go to technology development and an international growth drive set to begin with the company’s entry into the Dutch market.
Edgeir Vårdal Aksnes, chief executive of Tibber, said: “For us, this means that we can continue our mission of making energy smarter at an even faster pace.
“Our app has quickly become popular, and it has contributed to smart and green energy at lower prices. We look forward to launching new products and making energy at home even smarter.”
BKK had previously joined existing backers Wellstreet and Stordalen in a $2.4m seed round for the company in 2017 that increased its overall funding to $3.2m.
