Stockholm-based Krafthem secures around €500K to further develop AI-driven smart electricity contracts

Swedish energy startup Krafthem has secured around €500K from private investors. Despite launching during the corona pandemic and the slow summer months, the startup has successfully raised this seed funding to ensure its plan to develop AI-based technology for electrical flexibility.

Founded this year, Krafthem offers private individuals simple, cheap and smart electricity contracts. The startup’s technology requires no external hardware and is based on proprietary, AI-based algorithms. In particular, the startup aims to help users with everyday applications, like electricity-dependent transport and heating. For instance, with Krafthem, electric car owners are offered an easy way to reduce the cost of the electricity they use, while simultaneously relieving the electricity grid at critical moments.

In all, Krafthem challenges the entire market by offering unique technology that creates large financial and sustainability savings for both the individual and the system.

John Diklev, CEO and founder commented (translated from the original quote in Swedish): “It is very gratifying and important that the company has managed to obtain this trust from investors. The capital ensures that we can continue to develop and employ additional skills. In the end, it is beneficial for both Swedish consumers and society at large as our technology benefits the electricity system in many aspects.” 

The leading investor in this round was serial entrepreneur Daniel Johnsson, who is behind the e-commerce chain Inet. Founder and CEO John Diklev has also invested in the round to deepen his involvement in the company.

EU-Startups

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