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SnerpaPower secures €3.4 million to accelerate its European expansion. The funding includes a €3 million Seed investment led by Encevo.

PRIVATEAug 19, 2026•about 5 hours ago

Amount Raised

€3.4 Million

Round Type

Seed

ReykjavikEnergyRenewable Energy

Investors

Icelandic Technology Development FundBacking MindsCrowberry CapitalEncevo

Description

SnerpaPower, based in Reykjavik, has successfully secured €3.4 million to enhance its operations in power-intensive industries. The funding comprises a €3 million Seed investment from Encevo and a €0.4 million grant from the Icelandic Technology Development Fund. This investment will empower the company to expand its AI-powered energy management software solutions across Europe. SnerpaPower aims to transform the way industries manage electricity consumption.

Company Information

Company

SNERPA Power

Location

Reykjavik, Capital Region, Iceland

About

SNERPA Power is developing intelligent energy services that tap into the full potential of the power intensive industry in Iceland, thereby creating new revenue streams, increasing the competitiveness of the Icelandic market for electricity and leaving more room for the energy transition. SNERPA Power has received several grants, among others from the Technology Development Fund in Iceland, the National Energy Fund and the Entrepreneurship Fund of Islandsbanki.

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