GreenPocket secures 3.5 million Euro funding

By Editor


GreenPocket secures 3.5 million Euro funding

By Greentech Lead Europe: GreenPocket, a European
provider of Smart Metering and Smart Home software, has secured 3.5 million
Euro in a series B financing round led by NRW. Bank. A group of existing and
new capital providers participated in the financing round.

The group includes the existing investors Schwetje
Digital, Rheinland Venture Capital Fonds, KfW Bankengruppe (ERP-Startfonds) and
the GreenPocket Management as well as the NRW.Bank and private investors as new

“We are very happy that all of our present shareholders
decided to reinvest in GreenPocket and that we could gain the NRW.Bank as a new
strong and experienced partner,” said Thomas Goette, GreenPocket CEO.

The investment will
fuel GreenPocket’s international expansion, extend the product portfolio and strengthen
the technological base. The company also expects high growth
in consumer-oriented software applications in the Smart Grid market.

In the last two years the company always exceeded its
revenue targets. GreenPocket has signed up 30 renowned utilities in Germany,
Austria, Spain and Great Britain. Already 4 of the top 10 largest European
utilities work with GreenPocket software solutions.

“Next to the very good management and the convincing
business strategy the strong international customer base was the main reason
for our decision to invest in GreenPocket. The company is a pioneer in a very
important future market”, said Thomas Raueiser from the NRW.Bank.

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