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December 22, 2023

Suena Hamburg Startup Raises €3M to Revolutionize Energy Storage Markets

Renewable energy, the market for battery energy storage systems is not just growing; it's on a roaring ascent

In the dynamic world of renewable energy, where innovation shapes the future, Hamburg-based startup suena has just powered up with a €3 million boost in a seed funding round. The energy storage market is on an upward trajectory, and suena, with its AI-driven optimization and power trading services, is gearing up to play a pivotal role. This funding injection, co-led by the Santander InnoEnergy Climate Fund and Smart Energy Innovationsfonds of Energie 360, is propelling suena to introduce its groundbreaking AI-based "Autopilot" software solution across European markets. Let's dive into the details of how suena plans to revolutionize power trading and contribute to the global energy transition.

As McKinsey reports over $5 billion invested in the energy storage segment in 2022, the momentum continues with strategic investments in industry players like Statera Energy and Modo Energy. Suena, founded in 2021 by Miguel Wesselmann and Tom Witter, steps into the limelight with its €3 million seed funding round, co-led by key players in the innovation landscape. The Santander InnoEnergy Climate Fund and Energie 360's Smart Energy Innovationsfonds are joined by existing shareholders EIT InnoEnergy, Raakwark Kaptaal, and Business Angels to fuel suena's ambitious vision.

Suena's Autopilot is not just a software solution; it's a game-changer in the monetization of flexible energy assets, particularly large-scale battery storage. In a market hungry for efficiency and adaptability, Autopilot takes the lead. It leverages AI to navigate power and balancing markets, optimizing trading strategies in real-time. Processing millions of data points every minute, Autopilot ensures efficient and strategic power trading across multiple markets, a crucial need in the fast-evolving energy landscape.

Suena's mission goes beyond software innovation; it's a catalyst for the energy transition. Dr. Lennard Wilkening, CEO of suena, emphasizes the importance of energy storage capacity at scale and its efficient deployment. Autopilot, as a 100% software-based and fully automated trading-as-a-service platform, positions suena as a key player in making storage capacity and renewable energy available precisely when and where it's needed most.

As suena marks this pivotal moment with €3 million in seed funding, the energy sector witnesses the rise of a transformative force. The Autopilot software, backed by innovative technology and a visionary team, is set to redefine power trading dynamics. With the support of strategic investors, suena is not just a startup; it's a driver of change in the energy transition landscape. The seed funding not only boosts suena's expansion plans but also signifies a collective confidence in their vision to revolutionize power trading and contribute to a sustainable energy future. As suena enters this exciting growth phase, the journey ahead promises innovation, efficiency, and a significant impact on the global energy transition.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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