Paris-based Granular Energy, an energy startup, announced that it has raised €7.5M in a funding round led by Norrsken VC.
Apart from Norrsken VC, the round also saw participation from All Iron Ventures, Box Group, Valo Ventures, and existing investors Seedcamp, Revent, and Powerhouse Ventures.
The company says it will use the fund to improve transparency in green energy procurement and direct consumer spending towards clean energy technologies for the most demanding needs.
Granular Energy set these goals considering how consumers globally spent €22.8B on green electricity in 2022 without knowing the origins of the electricity itself and its related carbon emission.
In addition, certificates to verify clean energy purchases continue to be in demand, considering their value. Yet, the current certification system is deemed insufficient to support the delivery of clean energy to people in need.
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