Electricity Maps recently raised €5 million, led by climate funds Transition and Revent. This funding will help scale the company's global impact and advance its mission to deliver accurate, real-time data for a greener energy future.
Electricity Maps has recently raised a financing round of €5 million, led by climate funds Transition and Revent. This milestone marks a major step in scaling the company's global impact and strengthening its mission to provide accurate, real-time data for a greener energy future.
Electricity Maps provides businesses with actionable electricity data across 230+ regions, helping them reduce carbon emissions effectively.
The platform empowers products and services to differentiate their offerings by enabling end-users to become more carbon-aware.
The Electricity Maps API provides seamless access to global electricity data. It simplifies integration with existing systems and allows for developing new solutions.
The API delivers hourly data on carbon intensity and electricity production/consumption with a peer-reviewed, scientific methodology.
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Since its founding in 2016, Electricity Maps had primarily been bootstrapped, growing and hiring only when revenue allowed.
Despite these constraints, the company achieved remarkable progress by doubling its revenue annually and expanding its app to millions of yearly visitors.
Its commercial API now handles nearly 10 million daily requests.
However, the increasing scrutiny and demand for data left users and customers wanting more. The company had struggled to meet this demand due to its limited resources for hiring and scaling.
This recent funding will change that, enabling Electricity Maps to expand its team and reach.
2023 was the warmest year since global records began in 1850, with temperatures averaging 1.2°C above the 20th-century norm.
Much of this temperature increase is attributed to human-induced emissions of greenhouse gases, primarily CO2 from the energy sector.
Driven by the urgent need to eliminate fossil fuels, the world is experiencing one of the most profound transformations in human history.
This transition demands large-scale electrification and a continuous supply of fossil-free electricity.
The increasing flexibility of new electricity demands allows usage to shift to times when electricity is both cheaper and cleaner.
This shift aligns with Electricity Maps' previous work involving heat pumps, electric vehicles, data centers, and home appliances.
Balancing the growing demand for electricity with an intermittent energy supply requires real-time interaction with the grid via data APIs.
Moreover, the risk of greenwashing can slow down the energy transition. Electricity Maps aims to tackle these challenges by driving data-driven decarbonization.
With the additional €5 million in funding, Electricity Maps is poised to accelerate its mission by mapping the world's electricity grids in greater detail.
Plans include expanding the app and API to include more relevant signals.
The company is now actively seeking the brightest minds to join its team and contribute to this ambitious vision.
Photo credit: Photo: maxlashcheuski - modified by Causeartist
Photo credit: Turnout: Modified by Causeartist
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