Total amount raised
$58.2 Millions
Latest funding date
10/01/2024
Location
Flower has successfully raised significant funding over multiple rounds, with its most recent Series A round closing on October 31, 2024. The company is backed by notable investors, including Sony Innovation Fund and Sebastian Knutsson, among others.
Flower's platform leverages advanced forecasting, optimization, and trading software to enhance grid resilience and generate additional revenue for energy asset owners. Keep reading to explore the intricacies of Flower's fundraising journey and the investors backing this innovative platform.
What Is Flower?
Flower, founded on May 28, 2020, is based in Stockholm, Sweden. The company operates in the energy sector, focusing on artificial intelligence, energy efficiency, and power grid management.
Founded by John Diklev, Flower employs between 101 and 250 people. The company leverages advanced forecasting, optimization, and trading software to stabilize the energy system and generate revenue for asset owners.
How Much Funding Has Flower Raised?
- Pre-Seed Round
- Amount Raised: €500K
- Date: August 2020
- Lead Investors: Daniel Johnsson
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI-driven energy management platform.
- Seed Round
- Amount Raised: SEK46.7M
- Date: April 2022
- Lead Investors: 41an Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their team and accelerate product development.
- Venture Round
- Amount Raised: SEK36.6M
- Date: May 2023
- Lead Investors: Ellevio
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their energy storage solutions and enter new markets.
- Series A Round
- Amount Raised: €25M
- Date: August 2024
- Lead Investors: Northzone
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expand their battery energy storage infrastructure.
- Series A Round
- Amount Raised: €20M
- Date: October 2024
- Lead Investors: Northzone
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the predictability and flexibility of global energy systems.
Total Amount Raised: €45.5M + SEK83.3M
Current Valuation: Not publicly disclosed
Key Investors
- Northzone
- Details: Northzone is a venture capital firm that led Flower's €25 million Series A funding round. PJ Pärson from Northzone is joining Flower's board of directors.
- Investment Focus Areas: Fintech, healthtech, climate tech
- Notable Investments: Spotify, Klarna, iZettle
- 82an Invest
- Details: 82an Invest participated in Flower's Series A funding round. The firm is known for its investments in technology and energy sectors.
- Investment Focus Areas: Technology, energy
- Notable Investments: Not publicly disclosed
- Zebkei Invest
- Details: Zebkei Invest also participated in Flower's Series A funding round. The firm focuses on supporting innovative energy solutions.
- Investment Focus Areas: Energy, technology
- Notable Investments: Not publicly disclosed
- Sony Innovation Fund
- Details: Sony Innovation Fund is a corporate venture capital arm of Sony. It invests in companies that align with Sony's strategic interests.
- Investment Focus Areas: Technology, entertainment, healthcare
- Notable Investments: Not publicly disclosed
- Sebastian Knutsson
- Details: Sebastian Knutsson is a notable angel investor and co-founder of King, the company behind Candy Crush. He has a keen interest in tech startups.
- Investment Focus Areas: Technology, gaming, startups
- Notable Investments: Not publicly disclosed
What's Next for Flower?
Flower's future looks promising as it aims to enhance the predictability and flexibility of global energy systems. With a forecasted 5x increase in revenue for 2024, the company is poised to capitalize on the growing demand for battery energy storage infrastructure. This significant opportunity is bolstered by key partnerships and acquisitions, such as Sweden's largest battery park.
Given the rapid growth and increasing demand, Flower may attract further investment to support its expansion. However, the company will need to manage the unpredictability of renewable energy sources and scale operations effectively. Navigating the competitive landscape of energy storage and grid management solutions will also be crucial for sustained success.
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