Eight Roads, Balderton lead $30m series-B round for Tibber

Existing investor Founders Fund also participated in the round. Alongside equity, Tibber secured $35m in debt financing from Nordea.

The funding, which brings the total amount raised by Tibber to $81.5m, will be used to support further investments into the company’s technology, scaling up its team, and expanding into new markets, with the next one being the Netherlands in 2021.

Previous funding
In 2016, Tibber raised SEK 7m in funding from private investor Petter Stordalen. A year later, it received a SEK 3m grant from RFF Vest.

In November 2017, Tibber raised NOK 15m in seed funding from energy company BKK, VC firm Wellstreet Ventures, and existing investor Petter Stordalen. In March 2019, it raised $12m in a series-A funding round led by Founders Fund, which was followed by a grant of NOK 13.5m in August 2019.

Company
Founded in 2016 and based in Førde, Tibber is a renewable energy supplier. It has also created an app which provides real-time analytics into energy usage, and pairs with a variety of smart home devices to reduce electricity consumption at home. The company serves more than 100,000 households in Norway, Sweden and Germany. According to its LinkedIn page, the company has around 50 staff. 

People
Tibber - Edgeir Vårdal Aksnes (CEO).
Eight Roads Ventures - Alston Zecha (director). 
Balderton Capital - James Wise (partner). 

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• Topics
• Nordics
• Early-stage
• Expansion
• Infrastructure
• Balderton Capital
• Venture