Oslo-based startup Enode raises $15 million in a Series A round led by pan-European early-stage VC firm CREANDUM. Enode’s previous investors Chris Sacca (Lowercarbon), Y-Combinator, as well as the US funds BoxGroup, MyClimateJourney, Skyfall Ventures and a group of notable business angels, including Andreas Lundgren (VP of Engineering Tink) and Matt Cohler (former GP at Benchmark) also joined the round. The startup enables energy companies to integrate EVs, thermostats, solar inverters, and other energy hardware directly into their apps – all through a single API. The funding will help the company enlarge its team and give a boost for its expansion into new markets.
Enode was founded in 2020 by serial entrepreneurs Henrik Langeland, Thorvald Thorsnes and Nikolai Heum. The company originates from the Nordics, the leading region in the world on electrification and renewable energy, but the team of 25 operates under remote-first principles. The team was part of the 2021 Y-Combinator batch. A few months after officially launching in early 2022, its customers include the most innovative startups and energy companies in the world, spanning 14 markets. They use the Enode API for seamless integrations with over 400 models of EVs, home chargers, heat pumps, solar panels etc.
While Europe and the rest of the world are facing a looming energy crisis, there’s a pressing need for new solutions to energy systems. As energy prices rise and consumers look to reduce their carbon footprint, more people are looking to take control of their energy at the point of consumption. At the same time, the increasing electrification of our day-to-day lives has brought a range of new energy hardware into homes, including cars, home chargers, home batteries, heating and cooling systems.
These changing energy consumption behaviors require energy companies to provide a new kind of infrastructure to manage the flow of usage data for consumers. However, most energy companies lack the resources as it is a challenging and costly task. Enode is here to solve that problem. They are building the Plaid for energy: a single API that connects to and controls all energy hardware, from EVs to thermostats and solar inverters. The Enode API connects these devices to energy management apps and makes it easy for energy companies to offer smart services to their customers. On a mission to build a sustainable energy system, Enode is targeting companies of all sizes, from startups to the largest energy companies in the world, to use its APIs to create new green energy apps and services.
Instead of integrating and maintaining connections to hundreds of different hardware models, energy companies can use the Enode API and focus on building a solid customer experience. The Enode API does not only support information flow-based connections but also offers optimization and aggregation capabilities to build services such as smart charging, intelligent energy management for households and demand response solutions.
Henrik Langeland, co-founder Enode: “We’re seeing a wave of innovation and new startups working on solving the challenges of the energy transition. The Enode API helps them reach further and move faster. It’s time for us to press the accelerator.”
Sabina Wizander, Partner at Creandum: “This winter, the need for energy management will increase, forcing both established and new players in the energy sector to offer more sustainable options and services to their customers. Enode will play an important role in this green revolution by offering a smart and simple infrastructure solution through its API. The extraordinary growth reflects the strong demand for their product. Coupled with an experienced team, we are excited to partner up.”
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