Swedish energy software platform Flower raises €25 million Series A led by Northzone

This news was covered on August 14, 2024 in the daily PRO newsletter.

Flower, the Stockholm-based software platform for energy forecasting, optimization and trading, has raised €25 million ($27.5 million) in a Series A funding round led by Northzone, according to documents submitted to the Swedish company registry Bolagsverket (sourced via Eivora). 82:an Invest and former King co-founder Sebastian Knutsson also participated. The pre-money valuation was around €100M.

By the time of writing, the round has actually not been officially announced yet by Flower or Northzone. However, it has today been covered by varous Swedish news outlets such as Impact Loop, Breakit and Di Digital, as well as by Sifted, citing the public information (or each other). So it's out there now, anyway.

Flower was founded in 2020 by John Diklev as Krafthem. Among previous investors are the Swedish electric power distribution company Ellevio, and 41:an Invest. In March, the company announced debt funding from Norion Bank.

2023 numbers are not published yet, but co-founder and CEO John Diklev told Di Digital earlier this year that Flower grew revenue in 2023 by 10x, and delivered a break-even result.