Swiss energy startup DEPsys raises €11.6 million for its smart grid solutions

Puidoux, Switzerland, 8 February 2019 – The Swiss technology company DEPsys is to receive €11.6 million as part of a Series B investment. The new investors are BNP Paribas and SET Ventures. This capital increase prepares DEPsys for strong international growth. In 2018, DEPsys doubled the number of customers and is now present in ten markets across two continents. Large-scale rollouts are under way, and recently, DEPsys established its first international subsidiary in Germany.

With increasing green electricity production, the rising use of renewable energies and electromobility, and the digitalization of power grids, DEPsys’ unique GridEye solution is in heavy demand. The versatile control platform allows power grid operators to run distribution grids safely, reliably and optimally. This makes it possible to feed large quantities of renewable energies into their grids from decentralized sources. GridEye also allows for the easy management and control of micro grids and neighborhood solutions. Distribution network operators in DACH, Europe and worldwide use the platform to integrate intelligent grid management technologies. This is made possible by the innovative mix of hardware and software.

Michael De Vivo, CEO of DEPsys: “We are proud to have gained the support of our renowned new investors BNP Paribas and SET Ventures. Their networks and market expertise will be invaluable for us successfully penetrating new markets. DEPsys is firmly convinced that supplying the world solely with electricity from renewable sources will be possible in the future. We have set out to accelerate the energy revolution and make it easier for grid operators. With GridEye, we have developed an innovative technology solution to drive this mission forward. It is a Swiss Army Knife with all the instruments for distribution system operators to make their energy turnaround a success, without fear of a complex, protracted and expensive transformation process.”

FOCUS ON DACH, GROWTH OPPORTUNITIES IN WESTERN EUROPE, ASIA AND NORTH AMERICA

DEPsys continues to focus on the markets in Germany and Switzerland. But the provider also aims to accelerate business in the European market and worldwide. DEPsys will continue to expand in Asia, where three major customers have been acquired. Entry into the North American market is planned.

In 2016 and 2018, DEPsys completed two successful financing rounds with Statkraft Ventures, VNT Management, ONE Creation, and Single Family Office Wecken & Cie. As a result, DEPsys was able to professionalize its corporate structure, further develop its smart grid solution and strengthen its international market presence. In 2019, together with BNP Paribas(as lead investor) and SET Ventures, they will add a further €11.6 million in funding. Funds with which DEPsys is gearing up for future growth.