Withthegrid, a Utrecht-based company specializing in energy asset monitoring, has secured €3.5 million in funding to expand its Teleport Gateway platform. The investment comprises €2 million from Amsterdam-based venture capital firm Move Energy and €1.5 million in debt financing from Rabobank and Nationaal Groenfonds. The company aims to accelerate its international expansion, enhance product capabilities, and strengthen operational support for customers and partners. This funding follows previous efforts to optimize energy management through secure and connected infrastructure solutions.
Earlier discussions surrounding Withthegrid’s growth have focused on its role in supporting grid operators and energy asset owners with real-time monitoring and control solutions. The company has positioned itself as a key player in decentralized energy management, collaborating with utilities and renewable energy firms. Compared to prior funding rounds, this new investment emphasizes scaling operations and expanding the Teleport Asset Library, aligning with increasing digitalization trends in the energy sector.
How Will the Investment Improve the Teleport Gateway?
Withthegrid plans to use the funding to enhance the capabilities of the Teleport Gateway, a platform designed to manage over 450 asset types, including solar panels, wind turbines, and electric vehicle charging stations. The improvements will allow customers to launch projects more quickly, integrate new asset types, and comply with evolving European grid standards. Additionally, the company will focus on strengthening data security, ensuring a reliable and independent energy infrastructure.
What Are the Implications for the European Energy Market?
Withthegrid’s expansion aligns with the broader shift towards digital energy systems across Europe. By increasing operational capacity, the company aims to provide real-time data integration, allowing utilities and energy traders to optimize asset performance. The Teleport Gateway’s integration with platforms like ACCURE and SynaptiQ is expected to enhance decision-making processes for key industry players.
“We are pleased to have attracted funding from such reputable and energy sector knowledgeable organizations as Move Energy, Rabobank, and Nationaal Groenfonds. Their confidence in our vision not only validates our business strategy but also propels us forward to achieve our ambitious goals. We look forward to working together as we continue to innovate and grow,” said Paul Mignot, CEO of Withthegrid.
The company collaborates with major energy firms such as Eneco, Vattenfall, Essent, Vandebron, and Novar, providing them with real-time asset control and market optimization tools. The focus on secure and independent data exchange is critical for adapting to the increasing demand for flexible energy systems.
“The energy transition relies heavily on real-time asset control and secure, independent data exchange,” stated Mignot. “With this investment, we are further strengthening our offering and empowering our customer and partners with the required tools to meet the demands of an increasingly digital energy system. Our mission remains clear: to enable reliable and future-proof energy flexibility.”
As digitalization and decentralization drive changes in energy markets, companies that provide real-time asset management solutions are gaining prominence. Withthegrid’s latest funding will likely contribute to enhanced grid resilience and efficiency, supporting a more adaptive and interconnected energy infrastructure. The increased capabilities of the Teleport Gateway may provide businesses with greater control over their assets, improving operational efficiency and compliance with regulatory standards. As investment in energy technology continues to grow, competition in this space is expected to intensify, pushing further advancements in data-driven energy solutions.
