VC firms invest $34m in ESmart Systems

Energy Impact Partners took part in the round along with corporate venturing arm Innogy Ventures, joining existing investors Equinor Energy Ventures, Nysnø Climate Investments and Kongsberg Digital.

The fresh capital will be used to accelerate ESmart's international expansion, it is currently used by 48 clients in seven countries.

Previous funding
ESmart had raised more than NOK 200m over three funding rounds prior to the most recent financing. Equinor, Nysnø and Kongsberg are all existing investors.

Company
ESmart was founded in 2012 and is headquartered in Halden, Norway. It provides AI-based analytics software for the monitoring of power infrastructure and energy planning. Its customers are utility companies.

People
ESmart Systems – Knut Johansen (CEO).

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• Topics
• Expansion
• Nordics
• Technology
• Norway