Energy tech startup Gorilla has just secured €6 million in a new investment round for its software helping energy companies go net zero. The Belgian -born company will use the funding to help scale its product by expanding the team.
While energy costs rise, supply issues arise and the cold bite of winter takes a hit, the energy sector as a whole is getting a lot of heat. The urgency of a swift green energy transition couldn’t be more apparent and it’s in full swing. In its special report on Energy Transition Investment Trends 2022, Bloomberg predicts that energy companies will triple their investments in the transition to 100% green, renewable energy by 2025 and double them again by 2030.
Helping fuel the transition is both an explosion of data amongst energy companies, used to inform decision-making processes and startups that are coming up with innovative ideas and solutions.
Green energy solutions such as solar panels, wind parks, smart meters and so forth all generate large amounts of data – data that needs to be processed for the green transition to happen swiftly.
Belgian-born startup Gorilla is here to help with that and it’s just scored new funding to scale the mission.
- €6 million raised in a Series A round
- Investors are the transatlantic venture capital fund Beringea and the Belgian government-sponsored PMV
- VLAIO also participated
Ruben Van den Bossche: “The impact of climate change is growing faster than ever. We stand at a turning point in our history. Gorilla is here to help the energy sector become carbon-neutral faster and more cost-effectively.”
Helping energy companies become climate neutral
A spin-off from Belgian tech agency November Five, Gorilla has been operating since 2018 to enable energy companies to reach net zero while developing innovative, sustainable solutions for their consumers.
Its cloud-based data processing platform is capable of processing enormous amounts of data without the need for any special IT knowledge on the part of the user, enabling energy companies to make giant leaps forward in terms of efficiency and performance.
Ruben Van den Bossche, co-founder and CEO of Gorilla: “The energy transition is also transforming the way the energy market works. Our data-driven applications make it easy for energy companies to develop new price plans and offer new products. Which, in turn, encourages more flexible and sustainable energy consumption and helps consumers manage their energy bill. Think of innovative solutions for electric cars and IoT devices. But also solutions that make more efficient use of existing infrastructure, thereby reducing the need for additional expenditure.”
Already, the startup has scored major energy companies such as British Gas, ScottishPower, Shell Energy and Engie as clients. These corporates use the platform to generate insights into the production and consumption of energy – and it perfectly highlights how startup-corporate collaboration can play a pivotal role in the global energy transition.
Eyal Malinger, Partner at the investment fund Beringea: “The Gorilla team has built a collaborative, cloud-based, high-performance modelling platform, which provides 100 times greater performance than legacy spreadsheet-based solutions. Energy companies are facing exponential growth in data processing requirements, and – as decarbonisation continues to accelerate – it has never been more critical to provide our energy sector with digital tools that can manage the greater complexity and volatility that comes with this transition. Gorilla does exactly this, and we are excited for the next chapter of its growth.”
Gorilla currently operates with a workforce of 40 employees at its offices in Antwerp, London and Melbourne. With this new capital raise, the firm plans to further expand its sales and engineering teams as well as its product offering.