Europe's energy software startups are having a moment in the sun right now
A drop off in the cost of renewable energy, the proliferation of electric vehicles, and Russia's war on Ukraine have helped accelerate the push away from fossil fuels in recent years.
Energy software startups have raised $427 million in the first half of the year, already eclipsing 2022's total of $369 million, per PitchBook data. This week Lithuanian solar design and planning software company PVcase raised $100 million while Dutch energy monitoring firm Sensorfact landed $28 million.
The cost of connecting solar projects to the grid to get them up and running in the first place still needs to be brought down, according to Tyler Lancaster, a partner at US firm Energize Venture, which has $1.2 billion under management.
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