Greenely in a SEK 40 million round backed by Concejo, Backstage Invest and Gainbridge Capital.

Greenely, a Stockholm, Sweden-based company providing a consumer service for energy use and consumption monitoring, announced raiseing SEK 40 million ($4.4M).

The money was raised from investors from Sweden including Concejo, Backstage Invest, Gainbridge Capital, Luminar Ventures, ByFounders and KTH Holding.

Greenely, founded in 2014 by Tanmoy Bari (CEO), Mohammed Al Abassi, and Fredrik Hagblom, is operating a mobile app developed at KTH that helps users keep track of their energy use in the home. The app is provided on a freemium model and it is in use in 115k Swedish households, producing a MRR of roughly $100k as of June 2021 via subscription fees.

Greenely previously secured $2.2 million in the summer of 2021 and $2.7 million in an investment round backed by ByFounders and Luminar Ventures in 2019.