Tallinn-based cleantech Gridio gets €1M for its smart energy app

The Tallinn-based cleantech startup Gridio has got €1 million for its smart energy app development. Nordic Link Capital, The Sharing Group, and Estonian Specialist VC funds are among the investors, EU-Startups reports.

• Founded in 2018 by Konrad Hanschmidt and Sandor Liive, Gridio develops a smart energy app for charging electric cars and scheduling residential electricity use based on electricity prices.
• The startup’s solutions are aimed to help people earn money for shifting their energy use to cheaper and cleaner hours. For example, the average electric car owner saves about 30% off their electricity cost, as Gridio claims.

“There are 200 million electric vehicles hitting world roads in the next 8 years. Shifting electric vehicle charging to the hours of lowest prices, which usually correspond to the highest renewable production, is one of the simplest and least disruptive ways to utilize more wind and solar power, and avoid fossil-powered electricity use,”

Konrad Hanschmidt, the CEO and cofounder of Gridio, says.

• The startup’s app has already over 30,000 downloads and more than 15,000 registered users in 10 countries. Gridio’s the largest market is Denmark, where over 10% of electric Volkswagen and Škoda owners use its service. 
• Gridio plans to use the fresh funding to further develop its app.