Encentive secures 2.7 million euros in successful seed financing

Encentive raises 2.7 million euros in a seed investment round led by Summiteer. With its AI software "flexOn", the company automatically shifts the energy consumption of industrial companies to times of surplus renewable energy.

Neumünster - The startup encentive has successfully raised funds totaling 2.7 million euros in a seed investment round. Summiteer leads the round, other investors are Smart Infrastructure Ventures, Vireo Ventures, Interface Capital and business angels, including the Enerparc founders, the ProGlove founders and professional soccer player & investor Mario Götze.

Encentive was founded at the end of 2020 and focuses on channeling energy consumption into green and cost-effective hours. The software platform "flexOn" serves as the central operating system for intelligent and automated energy management, resulting in savings of around 20% and a measurable reduction in CO2. The company has successfully implemented its solution in the food industry and refrigerated logistics.

AI-based software platform flexOn

The core product of encentive is the AI-based software platform "flexOn", which was developed to automatically shift the electricity consumption of industrial companies to periods with surplus renewable energy. The aim is to achieve significant savings in costs and emissions. The company already has well-known customers such as the Wernsing Food Family, Ornua and logistics companies using the solution.

With the fresh capital from the seed financing round, encentive plans to expand its software platform to reach a larger customer base. The aim is also to expand the interfaces into the energy system and use the technology in other industries.