DEPsys is a Swiss technology company whose core product, GridEye, is a hardware-plus-software control platform for distribution network operators to integrate decentralized renewable generation, manage microgrids and support neighborhood energy solutions. The company says demand is rising due to increased renewable generation, electromobility and grid digitalization, and large-scale rollouts are under way. DEPsys doubled its number of customers in 2018 and is present in ten markets across two continents; it has acquired three major customers in Asia and plans entry into North America while continuing to focus on Germany and Switzerland and broader European expansion. The 2019 funding is intended to accelerate international growth and market penetration. Prior financings in 2016 and 2018 helped professionalize the corporate structure and strengthen international presence. DEPsys builds GridEye, a decentralized smart-grid platform that monitors, stabilizes and optimizes low-voltage power grids using high-precision measurements and advanced control algorithms. The solution is plug-and-play, easy to install and does not require a grid model, avoiding regular updates. DEPsys says the product has matured over the past 18 months and has signed a number of important international agreements and contracts in 2017. Statkraft Ventures notes the company grew from prototype stage to a player with dozens of international customers. The company plans to accelerate application development and expand its international market presence. Financially, DEPsys completed a CHF 3 million Series A in 2016 and has secured additional funding to continue commercialization and expansion. DEPsys develops GridEye, a decentralized, real-time measurement and control platform designed to stabilize low-voltage electrical networks and optimize energy flows. The solution uses intelligent algorithms and a decentralized architecture to secure supply without requiring an electrical network model. GridEye can be installed on existing hardware, needs no central compute infrastructure or heavy communications, and is marketed as a plug & play solution. DEPsys customers in Switzerland have used GridEye for more than two years to avoid costly network investments, improve stability and better exploit produced energy. One of the largest French-speaking Swiss grid operators has integrated GridEye into its strategic roadmap to 2030 with plans for full deployment. GridEye version 3 is entering industrial production and the company has started developing the West-European market; the startup recently closed its first external financing of CHF 3 million.

Total raised

$18M

Funding rounds

3

Latest round

Series B

Latest activity

Feb 2019