Tibber expands its mobile energy assistant in Norway, grabs NOK 20M from strategic investor BKK.

Norway Sweden Investments 13 November 2017
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Tibber, a Stockholm, Sweden-based startup providing a smart energy assistant via a mobile application, raised NOK 20M ($2.42M) in a fresh investment round valuing the company at NOK 130M ($15.8M).

The money comes from BKK (NOK 15M), a Norwegian power company which produces and distributes energy from 29 hydroelectric power plants and also includes existing investors Wellstreet and Petter Stordalen, which contributed with the rest to a total of NOK 20M investment round. Daniel Lindén, co-founder of Tibber, stated for Nordic 9 that the round is aimed for an overall NOK 24M figure.

With the investment, Tibber will also have access to BKK's energy production for being able to trade it via its service.

Tibber, founded in 2016 by Daniel Lindén and Edgeir Aksnes, developed an energy consumer service for house owners that works as an intelligent assistant that can buy, control and save energy.

Prior to this deal, Tibber raised more than $800k from investors like Petter Stordalen and Wellstreet and received a NOK 3M non-refundable grant from Norwegian Research Fund RFF Vest.