Energy and tech scale-up metiundo receives 40 million euros from Octopus Energy Generation

Berlin-based energy and tech scale-up metiundo has secured €40 million in funding from Octopus Energy Generation, one of the world's leading investors in renewable energy and green infrastructure.

metiundo intends to use the capital to significantly accelerate the rollout of smart metering systems and further develop its software platform for cross-sector solutions in energy and water. The aim is to bring data-driven applications into practice more quickly and measurably advance the energy transition in the building sector.

Why smart meters are now becoming a bottleneck in the energy transition

The legally prescribed smart meter rollout in Germany is under great time pressure. Smart metering systems are the basis for

• flexible electricity tariffs,
• the efficient use of photovoltaics and battery storage,
• transparency regarding energy and water consumption,
• and the digitalization of buildings.

However, the rollout is making slow progress. Competitive metering point operators such as metiundo are seen as a decisive lever for bringing speed and quality to the market.

Smart metering as a service - everything from a single source

metiundo offers "Smart Metering as a Service" and covers almost the entire value chain of smart metering systems in-house:

• Planning and installation,
• operation and maintenance,
• market communication,
• as well as software integration and data processing.

The difference is that metiundo thinks energy and water together. The integration of cross-sector metering data creates a holistic picture of a property's consumption for the first time. This means that consumption, generation and storage can be combined in a meaningful way.

To date, metiundo has already installed over 21,000 smart meters and established itself as an independent, competitive metering point operator.

More installations, more software, more speed

The 40 million euro funding will primarily be used to

• the accelerated rollout of smart metering systems,
• the expansion of the company's own software platform,
• and the establishment of additional installation and assembly teams.

"The market is so dynamic precisely because competitive metering point operators are driving implementation forward," says Dennis Nasrun, Co-Founder and CEO of metiundo."Right from the start, we have consistently invested in our own software. With the new financing, we are now determined to scale up further: more installations, higher quality and even more speed."

Octopus Energy Generation focuses on integrated metering

Investors are also focusing on the strategic approach.

When solutions like metiundo's are scaled up, households and companies can become greener and reduce costs - for example by optimizing the use of photovoltaics and battery storage.

Alex Brierley, Co-Head of Octopus Energy Generation's fund management business

"The building and heating sector is responsible for around 30 percent of energy-related emissions in Germany. At the same time, the metering sector is developing rapidly." The financing is therefore not only a growth step for metiundo, but also a clear infrastructure case for the energy transition in existing buildings.

Integrated smart meter networks ahead

metiundo plans to recruit new specialists in a targeted manner, particularly in:

• Software development,
• installation,
• operation of smart metering systems.

The long-term goal is to set up integrated smart meter networks across several properties in order to enable additional data-based solutions for the housing industry, companies and energy suppliers.