Estonian startup Gridio raises €2.4M

Tallinn-based startup Gridio, specializing in smart charging of electric cars, has closed a seed round of funding and raised €2.4M.

The funding round was led by Estonian company Neokapital Family Office, with participation from Luxembourg-based Encevo, Estonian Smartcap, US-based Renergy and other investors. 

Gridio is an innovative platform founded in 2018 in Tallinn by Konrad Hanschmidt and Sandor Liive that optimizes energy use while charging electric cars and other devices. The app integrates information on electricity prices, emissions and energy storage, as well as vehicle and battery data. 

According to co-founder and CEO Konrad Hanschmidt, the €2.4M raised will be used to roll out the Gridio platform across Europe. This will help European customers automate their energy consumption, contributing to grid stability and reducing energy bills.

Gridio platform currently has over 30K users. The startup plans to quadruple that number by 2026.

Estonian Neokapital Family Office was founded in 2017 by Anders Anderson. The company specializes in business consulting and investments in the bioenergy sector. 

SmartCap is a state fund established in Estonia in 2011 and operating under a license from the Estonian Financial Supervisory Authority. The company is a subsidiary of the Estonian Business Development and Innovation Agency.