Octave closed its seed funding round 🌱
Octave has closed a €2M seed funding round, co-led by private investors SPDG ventures, the family office of the Périer-D’Ieteren family and U2P, the investment group of Ismaël Ben-Al-Lal, and supported by top-tier institutional investors EIC Accelerator Fund and Innoviris. The funding also includes contributions from SimpliCity, an impact fund investing in urban tech and the imec.istart fund.
The funding will be used to accelerate R&D and drive the commercial rollout of circular battery solutions. Octave will take Octave’s Cabinet - a medium sized battery system with 100 kWh of energy storage capacity to market. The system builds further on Octave’s previous prototypes and its patent-pending battery cloud technology.
Octave’s circular energy storage solution is a gamechanger for the energy management of SMEs, large real estate and industrial sites with local renewable energy production. The presence of EV charging infrastructure can further boost the return on investment. Stay tuned for more exciting news in the coming weeks! 📢