Total amount raised
$58.2 Million
Latest funding date
10/01/2024
Location
Flower has successfully raised funds through five distinct funding rounds, attracting a diverse group of investors including venture capital firms, corporate venture funds, and angel investors. Notable backers include Northzone, Sony Innovation Fund, and Sebastian Knutsson.
The company focuses on optimizing and trading renewable energy assets, aiming to make renewable energy reliable and predictable. Keep reading to explore the intricacies of Flower's fundraising journey and the investors backing this innovative platform.
What Is Flower?
Flower, based in Stockholm, Sweden, is a private company specializing in renewable energy management. Founded by John Diklev, the company focuses on optimizing and trading energy assets like wind and solar farms, battery systems, and EV chargers. With a workforce of 101-250 employees, Flower aims to make renewable energy reliable and predictable.
Operating in sectors such as artificial intelligence, energy efficiency, and power grid management, Flower leverages AI to efficiently deploy electricity flexibility. The company serves various customer segments, including grid-scale BESS, green baseload, and residential energy consumers, contributing to a balanced and sustainable energy ecosystem.
How Much Funding Has Flower Raised?
- Pre-Seed Round
- Amount Raised: EUR 500,000
- Date: August 2020
- Lead Investors: Daniel Johnsson
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial development of its AI-driven energy management platform.
- Seed Round
- Amount Raised: SEK 46,700,000
- Date: April 2022
- Lead Investors: 41an Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate the development of their technology for optimizing renewable energy assets.
- Series Unknown
- Amount Raised: SEK 36,600,000
- Date: May 2023
- Lead Investors: Ellevio
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's market presence and improve its AI capabilities for energy management.
- Series A Round
- Amount Raised: EUR 25,000,000
- Date: August 2024
- Lead Investors: Northzone
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth in response to increasing demand for their services and to enhance the predictability and flexibility of global energy systems.
- Series A Round
- Amount Raised: EUR 20,000,000
- Date: October 2024
- Lead Investors: Northzone
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further capitalize on new partnerships and acquisitions, such as Sweden's largest battery park.
Total Amount Raised: USD 50,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Northzone
- Details: Northzone is a leading European venture capital firm. They have a strong track record of investing in high-growth technology companies.
- Investment Focus Areas: Technology, consumer internet, fintech
- Notable Investments: Spotify, Klarna, Trustpilot
- Ellevio
- Details: Ellevio is a Swedish electricity distribution company. They focus on providing reliable and sustainable energy solutions.
- Investment Focus Areas: Energy, infrastructure
- 41an Invest
- Details: 41an Invest is a private investment firm. They are known for their strategic investments in various sectors.
- Investment Focus Areas: Not publicly disclosed
- Daniel Johnsson
- Details: Daniel Johnsson is an angel investor. He has been involved in multiple early-stage investments.
- Investment Focus Areas: Not publicly disclosed
What's Next for Flower?
Flower's future looks promising as it continues to enhance the predictability and flexibility of global energy systems. With the acquisition of Sweden's largest battery park and key partnerships, the company is poised to capitalize on the growing demand for energy storage and grid management solutions. The forecasted 5x revenue increase in 2024 underscores the significant opportunities available.
As Flower scales its operations, future fundraising rounds seem likely to support its rapid growth and expansion. However, the company will need to navigate challenges such as managing the unpredictability of renewable energy sources and effectively integrating new acquisitions and partnerships. The industry's shift towards renewable energy presents both opportunities and hurdles that Flower must adeptly manage to sustain its momentum.
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