The energy landscape is changing faster than ever. Recent global events have made one thing crystal clear: we need resilient, sustainable energy systems that empower local communities. Today, we're excited to share a major milestone in our journey to make this vision a reality.
We're thrilled to announce that exnaton has secured significant seed funding led by renowned Silicon Valley investor True Ventures, with continued support from Zurich-based Übermorgen Ventures. This one-digit million funding round marks a pivotal moment for our mission to democratize renewable energy through innovative software solutions.
Since launching just two years ago as an ETH spinoff, we've witnessed incredible momentum. Our software now serves 15 utility companies across Germany, Austria, Switzerland, and Luxembourg – many of whom started their journey with us during our pilot phase. What started as an ambitious idea has evolved into a proven solution that's reshaping how communities interact with renewable energy.
At the heart of our technology lies a simple but powerful concept: enabling households to trade solar power directly with their neighbors. We're not just facilitating energy transactions – we're building stronger, more resilient local energy communities.
"After the events of the last few months, it is now clear to everyone that the energy sector needs to change fundamentally," explains our co-founder and COO Anselma Wörner. "We contribute to the transition to clean energy by integrating more local renewable energy into the energy system and by making local communities less dependent on other energy sources."
But energy sharing is just the beginning. Our platform also empowers utility companies to implement:
This year brought special recognition when we won the SAP Innovation Award alongside best practice consulting and our Austrian customer Burgenland Energie. This achievement validates our approach to creating white-label solutions that utility companies can seamlessly integrate into their existing systems.
Our B2B customers appreciate that exnaton isn't just another software tool – it's a complete ecosystem that enables them to offer cutting-edge renewable energy services to their own customers without the complexity of building from scratch.
We're honored to have True Ventures leading this funding round.
"Since our first meeting in San Francisco last year, we were convinced that exnaton's technology would fundamentally contribute to the successful energy transition," said Toni Schneider, partner at True Ventures and former CEO of Automattic, the company behind WordPress. "exnaton, today, is in a market niche that will soon offer many business opportunities in the energy sector."
The continued support from Übermorgen Ventures, our climate tech VC partner from Zurich, reinforces the strength of our European foundation while we expand globally. Their expertise in European energy startups and extensive network continue to be invaluable as we scale.
With our growing team, we're setting our sights on new horizons. Over the coming months, we'll be advancing our technology capabilities while expanding into exciting new European markets, including Italy and Spain.
The transition to clean, local energy isn't just an environmental imperative – it's an economic opportunity that creates value for communities, utility companies, and individual households alike. As we continue to grow, we remain committed to our core mission: making renewable energy more accessible, more local, and more community-driven.
Are you a utility company looking to offer innovative energy services? A community interested in local energy sharing? Or simply someone passionate about the energy transition? We'd love to connect and explore how we can work together to power a more sustainable future.
The energy revolution is happening now, and we're proud to be part of building the infrastructure that will power tomorrow's communities. Thank you to our investors, customers, and the entire Exnaton team for making this milestone possible.
Ready to learn more about how exnaton can transform your energy community? Contact us to explore the possibilities.