Tibber secures $65 million in a round led by Eight Roads Ventures and Balderton Capital.

Tibber, a Stockholm, Sweden and Oslo, Norway-based company providing a smart energy services via a mobile application, announced completing a funding round of $65 million.

The money was raised from investors led by Eight Roads Ventures and Balderton Capital, with participation from existing investors including Founders Fund.

In addition to equity, Tibber announced a working capital line backed by Nordea.

Proceeds will be used for growing the business.

Tibber, founded in in 2015 by Daniel Lindén and CEO Edgeir Aksnes, aims to replace traditional utilities with smart technology, via an energy consumer service for house owners that works as an intelligent assistant that can buy, control and save energy.

The app automatically switches power producer and lets people control the power consumption for a fixed price, working for both electricity for homes and electric cars. 

In addition, its app provides real-time analytics into energy usage, and pairs with a variety of smart home devices to reduce electricity consumption at home. Tibber has about 100k customers from Sweden, Norway and Germany.

Tibber previously raised about $15 million.