NOX Raises €3 Million to Connect Home Clean Energy Devices to the Grid
Residential energy management software startup NOX Energy announced that it has raised €3 million (USD$3.4 million) in a seed funding round, with proceeds aimed at scaling the company’s smart energy management software connecting home clean energy devices to the grid across Europe.
Founded in 2024 by CEO Axelle Moortgat and COO Louis Clermont, Belgium-based NOX develops a smart energy management platform that connects home energy assets, including heat pumps, solar panels, batteries and electric vehicles, to energy markets, optimizing the operation of the devices, based on factors such as electricity prices, weather forecasts and grid conditions.
Over the past year, the company has connected more than 10,000 energy devices and signed customers including Eneco and Frank Energie.
The new capital will be used to expand outside of Belgium and the Netherlands into new European markets, the company said, and it will focus on embedding its solution directly into manufacturers’ own apps, enabling optimization to become a built-in feature, instead of asking consumers to adopt a new energy-management app or install new hardware.
Axelle Moortgat, co-founder and CEO of NOX, said:
“Millions of homes already have a heat pump, battery or solar panels connected to their manufacturer’s app. Energy suppliers and grid operators need the flexibility these devices can offer, but every manufacturer and every market works differently. NOX sits in between as the infrastructure of flex, connecting both sides.”
The funding round was co-led by Rise Proptech and Volve Capital, with participation from Seeder Fund, Uneti Ventures, Fair Impact Fund and 100in.
