BayWa re Energy Ventures, the venture capital unit of BayWa re, confirms its first investment. The Munich-based energy VC is buying into the Swedish startup Blixt.
Blixt offers semiconductor-based circuit breakers and fuses for private households. These are designed to enable various smart metering and smart grid solutions. Together with angel investors, the total financing amounts to two million euros since Blixt was founded in February 2018. BayWa re Energy Ventures is the lead investor in the seed financing round. BayWa re's venture capital company was founded in April 2018.
"With its highly innovative products and the potential to decisively shape the digitalized energy market of the future, Blixt is an ideal fit for us and our investment goals. This groundbreaking digital security solution is a radical innovation with high disruptive potential and opens up a multitude of possibilities: Thanks to the new digital switch, energy suppliers can tailor prices and tariffs to meet their needs, thus creating the basis for demand response programs and intelligent grid management."
says Ulrich Seitz, Managing Director of BayWa re Energy Ventures.
“BayWa re’s strong network will significantly accelerate Blixt’s growth in its target markets and help drive the energy transition in Europe.”
“BayWa re Energy Ventures is the perfect investor for us”
Blixt founder Charlotta Holmquist says:
"With their many years of experience and extensive network in the energy services sector, BayWa re Energy Ventures is the perfect investor for us. Equally important to our decision was the team's understanding of the culture and mindset of innovative startups and their flexibility to support a young company in its growth. I very much look forward to working with Ulrich Seitz, who represents BayWa re Energy Ventures on our Board of Directors."
With the investment, the startup wants to further improve its technology.
