Reykjavik’s SnerpaPower lands €3.4 million to help power-intensive industries turn electricity into a competitive advantage

Female-founded SnerpaPower raises €3.4M to expand its grip on Europe's industrial electricity

SnerpaPower has secured €3.4 million in financing, with Encevo, an energy company from Luxembourg, leading the fundraising effort to support the company’s expansion across Europe. At the moment, the company’s software accounts for more than 1% of the electricity used by industries in the EU. SnerpaPower was founded by two seasoned experts from Iceland who regard electricity as a commodity to be traded, not merely a fixed cost. Almost all of Icel…

Reykjavik’s SnerpaPower lands €3.4 million to help power-intensive industries turn electricity into a competitive advantage

SnerpaPower, a Reykjavik-based DeepTech company developing energy management software for power-intensive industries, has secured €3.4 million to accelerate its European expansion.  The funding includes a €3 million Seed investment led by Encevo, a regional leader and a key player in Luxembourg’s energy transition, with continued participation from existing investors, Crowberry Capital and BackingMinds, alongside a €0.4 million Vöxtur grant from…