Hamburg's Rabot Charge AI raises total capital to EUR 3 million
The Hamburg-based Rabot Charge's artificial intelligence start-up has raised EUR 2 million in its latest seed funding round after its smart energy app won over the Munich-based early-stage investor, Yabeo Impact Fund, and the Hamburg-based Family Office. The start-up’s algorithm uses fluctuating energy pieces to calculate the best time of day to consume electricity i.e., for charging an electric car. The app can help consumers to target green power in the grid and increase their share of renewable energy. The resulting variable electricity tariffs can be configured and booked per app. Founded by Jan Rabe and Maximilian Both, Rabot Charge secured EUR 1 million in April during a pre-seed financing and has now followed up with another EUR 2 million in seed financing.
Start-up to increase sales of its electricity tariffs
"Until now, electricity consumers have always purchased electricity at the same fixed price. That amounts to an average price and involves significant risk surcharges from electricity suppliers. But if most electricity consumption can be controlled and consumed when stock market prices are below the fixed price, the old model makes little sense," said Jan Rabe, CEO of Rabot Charge. The start-up plans to finance sales of electricity tariffs with the fresh capital and to focus in particular on electric cars owners who have charging stations, photovoltaic systems and heat pumps in their homes. The company also plans to offer environmentally-aware consumers a high proportion of renewable energies and white label solutions for electric car manufacturers in the B2B sector in future.
Management and success stories
Founded in 2021, Rabot Charge and its six-member management team can look back on more than 50 years of experience in the energy sector in which it has undertaken other successful ventures. The founders are also the brain behind the comparison portal Wechselpilot.
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