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SnerpaPower raises €3.4M led by Encevo to expand its industrial electricity software across Europe.

PRIVATEAug 19, 2026•about 5 hours ago

Amount Raised

€3.4 Million

Round Type

Seed

Iceland

Investors

Iceland’s Technology Development FundBacking MindsCrowberry CapitalEncevo

Description

SnerpaPower has secured €3.4 million in financing to support its expansion across Europe. The funding round was led by Encevo, an energy company from Luxembourg, which aims to enhance the company's software platform. This investment follows SnerpaPower's previous seed round in 2023, also co-led by Crowberry Capital and BackingMinds. The company focuses on optimizing electricity use for power-intensive industries.

Company Information

Company

SnerpaPower

Location

Iceland

About

SnerpaPower, founded in January 2022 by experts from Iceland, provides a platform designed to optimize electricity usage for power-intensive industries. It connects factory operations with electricity markets, forecasting demand and adjusting usage to secure lower prices. The company focuses exclusively on industrial customers, helping them manage their electricity consumption effectively. SnerpaPower currently manages over 10 TWh of industrial electricity across about 15 locations in the Nordic region.

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