Helsinki-based tech startup Synergi has raised €2M in seed funding to transform how households and utilities manage their energy consumption. The funding round was co-led by green tech VC Greencode Ventures and Vaens, with existing investors Lifeline Ventures, APX, and Wave Ventures.
With the funding, Synergi will hire new engineers, salespeople, and marketers and expand into flexible markets in the Nordic and Central European countries.
Addressing the market need for modern energy consumption
As the EU races towards its ambitious decarbonisation goals, a key challenge looms: electricity demand is projected to surge by 60% by 2030, pushing existing grid infrastructure to its limits. Adding to this complexity is the increasing adoption of renewable energy sources, which introduces unprecedented variability in power generation.
Since its launch in 2023, Synergi’s platform has transformed how Europeans interact with their home energy systems. Through its user-friendly app, the company helps households optimise their use of electric vehicle charging, heat pumps, and solar panels. The results are impressive: users have reported up to 50% savings on EV charging and a 20% reduction in annual heating costs.
Speaking to TFN, Antti Hämmäinen, CEO of Synergi, shared: “Synergi is not an electricity provider or a purely B2B infrastructure company like the most common startups in demand-side flexibility today. We are working together with existing players, offering a readily available platform for utility companies and households alike, coupled up with the flexibility of market connections. That means our advantage is that any consumer, regardless of electricity provider, can use our platform and reap the rewards of flexible markets.
Hämmäinen continued: “We want to help consumers and utilities benefit from providing flexibility to the grid. Previously, this was not possible. Soon, utilities can generate revenue from flexibility markets by aggregating loads of customer-owned energy assets on the Synergi platform and providing their customers with the Synergi app as a turnkey solution.”
Overcoming challenges in energy management
The path to widespread adoption has hurdles. Hämmäinen acknowledges that consumer education remains a primary challenge: making complex energy concepts accessible and understandable to households. Encouraging and maintaining new energy consumption habits has also proved challenging, but Synergi’s reward-based system is designed to tackle these issues head-on.
“The platform’s environmental benefits vary significantly by region and energy mix. A recent study of 1,000 EV drivers revealed that smart charging through Synergi’s platform reduced emissions by 18% in Finland, while in Poland, the reduction was 3%. These differences reflect varying national energy production methods and carbon intensities,” explained Hämmäinen in a conversation with TFN.
“Energy flexibility is an untapped opportunity. Synergi´s business model has the potential to bring European consumers, utilities, and grid operators together to benefit all by balancing the grid and creating resilience for the whole system,” said Ines Bergmann-Nolting, Managing Partner at Greencode Ventures.
The EU’s future is green, isn’t it?
While the promise of energy flexibility platforms is compelling, Synergi’s potential for scaling in the European market is a reason for optimism. As the European energy landscape evolves, the coming months will determine whether Synergi’s model can deliver on its ambitious promises.
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