Blixt Tech AB secured €2 million in seed capital.
Blixt Tech AB, a Stockholm, Sweden-based company manufacturing a solid state miniature circuit breakers to enable numerous smart metering and smart grid solutions, announced closing an investment capital round.
The round was led by Munich-based BayWa r.e. Energy Ventures, the venture capital unit of the BayWa r.e. Holding, a fully-owned holding German company created to bundle the group's renewable energy divisions: solar energy, wind energy, bioenergy and geothermal energy.
The investment brings the total raised to just over €2 million ($2.3M) since Blixt was founded in February 2018, including the angel round secured earlier in 2018.
BayWa r.e. Energy Ventures provides the startup with access to the global infrastructure of the BayWa r.e. group.
Blixt Tech AB, founded in 2018 by CEO Trued Holmquist and Charlotta Holmquist, has developed a digital circuit breaker. Its lack of mechanical parts makes it possible to cut a circuit within only 250 nanoseconds. Moreover, its micro-controller and communication interface turns the old fuse box into an intelligent energy management centre.
The Blixt breaker can be retrofitted for regular fuse boxes and fill the needs of existing breakers, remote controls and smart meters in one single device. Moreover, software applications built on top of the Blixt breaker can be distributed remotely, letting new services be added as they are developed.
On October 8, Blixt opened for signups of its development kits, letting the global developer's community explore the potential of digital circuit breakers.
Blixt acquired Manetos Labs in a MBO in April 2018.