Eindhoven-based Tibo Power, a developer of a next-generation Power Administration System (EMS) for industrial and business power websites, has raised €6M within the Seed funding spherical.
The spherical was led by KOMPAS VC with participation from Hitachi Ventures and WEPA Ventures, alongside present buyers SET Ventures and Speedinvest.
KOMPAS VC is a specialist early-stage enterprise capital agency with workplaces in Amsterdam, Barcelona, Berlin, and Copenhagen, tackling the core industrial challenges of tomorrow.
Sebastian Peck, Companion at KOMPAS VC, added: “Tibo provides industrial clients the instruments to actively handle their power use, even in constrained environments. With the rise of grid congestion and decentralisation, this sort of intelligence is not elective—it’s important.”
Along with the funding from the household enterprise capital agency WEPA Ventures, Tibo Power and WEPA Group have established a broader business partnership aimed toward exploring progressive options for industrial power.
The announcement comes over a yr after elevating €3M in a seed spherical of funding, to increase its workforce and enterprise into worldwide markets.
Fund utilisation
The brand new funding will likely be used to increase into Germany and Belgium and to double Tibo’s workforce over the following 12 months, with hires throughout engineering, gross sales, and product.
On the product aspect, Tibo will increase its EMS with plug-and-play modules for brand spanking new use circumstances, together with fleet charging coordination, e-boiler management, and superior visualisation by way of PowerBI.
Grid congestion is limiting enterprise progress within the Netherlands. Corporations face lengthy delays for grid upgrades, penalties for top power use, and halted enlargement plans.
Right here’s the place Tibo Power affords an answer with software program that will increase capability by managing native power assets in real-time, eliminating the necessity for grid upgrades.
Tibo Power: AI-driven power administration platform
Based in 2022 by Remco Eikhout, Jeroen Althusius, Josh Mengerink, Linda Zandt-Sloot, and Bram Cappers, Tibo Power develops AI-driven software program to simulate and management decentralised power grids.
The corporate’s platform options an easy-to-use Power System Simulator that permits you to drag and drop components into place, together with a sensible power administration system referred to as “Alice.”
Alice works repeatedly, updating management settings each 5 minutes to regulate power use primarily based on real-time data, future value predictions, and particular contracts.
It’s versatile and might work with varied varieties of power sources, akin to photo voltaic panels, batteries, and electrical car chargers. This method permits customers to proactively handle their power, permitting them to anticipate modifications quite than simply react to them.
By utilizing predictions about costs, grid capability, and carbon depth, the system ensures power flows the place it offers the best advantages.
“Infrastructure limitations shouldn’t maintain again the power transition,” says Remco Eikhout, CEO and co-founder of Tibo Power. “With our AI engine Alice on the core, Tibo permits industrial gamers to leverage unused capability, predict dangers, and optimise in close to real-time, whether or not managing a single battery or a full EnergyHub. This funding helps us convey that flexibility and resilience to extra European clients.”
Since launching in late 2023, Tibo has deployed its EMS on greater than 30 industrial websites.
Tasks embrace multi-site implementations with Montea and lively EMS management at places akin to Intratuin.
Clients use the system to coordinate native manufacturing and consumption, monitor power use, and automate choices that beforehand required handbook enter, attaining tangible outcomes akin to avoiding peak load penalties, optimising photo voltaic era, and chopping operational prices.
Companions akin to Unica, Hoppenbrouwers, and Stantec are actively working with Tibo to implement EMS tasks throughout logistics, retail, and light-weight business.
