Ignitis Innovation Fund, managed by Contrarian Ventures, has invested EUR 295,000 in Eliq, a Swedish start-up, developing software solutions for the energy sector. The main objective of the company is the application of smart, digital solutions in the communication of companies with its customers.
Eliq became the 16th company in the world to be invested in by the Ignitis Innovation Fund.
"Energy changes around the world also require new solutions for the customers of companies in this sector. As a result, the need for innovative approaches and convenient interactions with customers around the world is constantly growing. The platforms and applications developed by the Eliq team are used by energy companies around the world to ensure that their services are closer to the customer and help him easily resolve issues,” says Darius Maikštėnas, Chairman and CEO of Ignitis grupė.
Well-known European energy companies, including Sweden's Vattenfall, France's Greenyellow and Norway's Eidsiva Energi, have already benefited from the various solutions that Eliq is developing.
“Growing customer expectations for transparency, provision of useful insights and dynamic communication are becoming a challenge for some energy companies in retaining their customers. Therefore, we are glad that together with other investors we contribute to the success of Eliq by changing the habits of these companies and offering more convenient customer-oriented smart solutions,” says Rokas Pečiulaitis, Managing Partner of Contrarian Ventures.
Founded in 2017, the Ignitis Innovation Fund has already invested about EUR 4.5 million in 16 companies in seven countries around the world developing new technologies in energy and electrified mobility that could be applied to the activities of the Ignitis grupė. The fund has invested in these start-ups along with 30 co-investment partners, including such well-known companies as car manufacturers Hyundai and Honda, and energy giant BP.
Ignitis Innovation Fund is one of the four directions of the Ignitis grupė Innovation Hub, which aims to attract innovations and talents from the energy sector to the group, and to promote the growth of energy start-up businesses.