A consortium of investors including Encevo, Crowberry Capital, and BackingMinds has backed SnerpaPower with $3.9M in Seed funding. The Icelandic startup is developing intelligent energy services designed to tap into the full potential of the country's power-intensive industry, aiming to create new revenue streams and boost the competitiveness of the electricity market.
The capital infusion, which also saw participation from the Icelandic Technology Development Fund, will support SnerpaPower's efforts to leave more room for the energy transition. The company has previously received grants from entities like the Technology Development Fund in Iceland, the National Energy Fund, and the Entrepreneurship Fund of Islandsbanki.
