The round was led by Summa Equity, with existing investors including Balderton, Eight Roads and Schibsted Ventures.
Tibber is a smart energy provider that is revolutionising the energy industry with its innovative business model. As I have written about before, instead of profiting from their customers' energy consumption, Tibber offers their customers renewable energy for the purchase price and smart technology that helps them control and lower their energy consumption.
Balderton previously invested in Tibber in November 2020, and the company has grown rapidly since then.
As of today, Tibber is well established in Norway, Sweden and Germany and about to launch in The Netherlands, while seeking opportunities to expand further within Europe. Since its inception in 2016, Tibber has been on a journey to assist consumers in lowering their energy bills and making more intelligent decisions around their electricity consumption. By providing its customers with real-time analytics into energy usage and smart home devices, Tibber gives customers control over their energy usage. Additionally, Tibber also offers numerous smart home devices like electric vehicle chargers, smart thermostats and energy reading devices (e.g. Tibber Pulse) through its online store to help make everyone's homes, smarter.
Tibber is breaking the mould of traditional energy companies by helping consumers reduce their home energy consumption, and charging no margin on the price of energy. As a result, almost half a million homes using Tibber have been able to make the switch to fully renewable energy, while also controlling their costs with their smart platform. There's rarely been a time when helping people take control of their energy consumption has been more important, and as we move to more home generation and electric vehicles, have a smart platform like Tibber to balance and optimise our energy usage will only become more important.