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

Smart City Energy Startups: Top 5 | Utilities – Energy Digital – Energy News, Magazine and Website

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A Japanese robotics startup has invented a smart mask that translates into eight languages – CNN

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British startup Planet Smart City partners with UN-Habitat on slum upgrading initiatives in Kenya

Today Planet Smart City, the British startup revolutionizing smart affordable housing who we recently featured due to their expansion in Brazil and €24 million funding round, has announced a partnership with UN-Habitat (the UN agency responsible for promoting socially and environmentally sustainable towns, cities and communities). Together they will join forces to deliver innovative solutions for slum communities.

The partnership will initially focus on Kibera and Mathare, two of the oldest and biggest informal settlements in Nairobi, Kenya. The project brings together Planet Smart City and the Participatory Slum Upgrading Programme (PSUP), a partnership initiative of the African Caribbean and Pacific group of States Secretariat, the European Commission and UN-Habitat. Planet Smart City will use its expertise in technology, data analytics and community engagement alongside UN-Habitat´s technical expertise on slum upgrading to deploy digital and on-the ground solutions that empower slum communities to coordinate locally-led initiatives and raise living conditions.

Since 2008, the PSUP has been working to achieve the Sustainable Development Agenda, in particular Sustainable Development Goal 11.1, which, by 2030, aims to ensure access for all to adequate, safe and affordable housing and basic services, and upgrade slums. This partnership will use the broad experience of the PSUP in slum upgrading and gather lessons learnt from leveraging private sector engagement for improving the living conditions of the one billion slumdwellers worldwide.

At the heart of the initiative is Planet Smart City’s proprietary Planet App, a mobile platform that will act as a digital hub for community engagement. Through the app, slum residents will be able to access news and services, including materials for the prevention of diseases, as well as book medical point services and borrow shared tools and equipment. Moreover, the app will serve as a platform for local coordination, allowing residents to organise community initiatives, participate in savings groups and view a calendar of activities and educational courses.

Core to the long-term goal of realising financial independence for slum community members, the Planet App will also be deployed to support local entrepreneurship, giving a platform for residents to coordinate and promote their services both within their communities and to the wider area around the slum. It can also be used to link slum community members to employment and training opportunities in Nairobi.

Through this partnership, Planet Smart City (2015) will also support communities to develop a community hub where events and activities can take place. Planet and UN-Habitat will work in collaboration with local partners, community champions and NGOs such as Shining Hope for Communities and Slum Dwellers International (SHOFCO), to collect and analyse data on the needs of local residents. This will allow the organisations to engage collaboratively with local people on the design and implementation of new community services and resources.

Data analysis and the tailoring of the app will be supported by the PSUP team on-the-ground in coordination with Planet’s experienced community manager, Elena Fabris. Their aim will be to engage local people and more effectively empower their initiatives utilising digital tools. This participatory approach will allow the slum communities to evolve according to local priorities and with a high degree of community ownership.

Giovanni Savio, Chief Executive Officer at Planet Smart City, said: “We have built our company on two core beliefs: the fundamental right of every person to an inclusive, safe and sustainable home, and the conviction that through the adequate scale, smart technology, digitalisation, resilient infrastructure and intelligent urban planning we can make this a reality. From Brazil to Italy to India, we have not only developed innovative ways to benefit the lives of our residents, we have learnt from them about how better to engage and empower local voices in a process of continual improvement.

“It is incredibly exciting to put our learnings to use with UN-Habitat in the service of communities for whom our innovations and expertise can have a transformational effect. With African cities growing by 40,000 people every single day, the need for safe, comfortable and affordable homes is pressing. As we continue to build insights into the rich communities and complex challenges across the continent, we hope to expand the services we can offer people in its many diverse nations. 

Kerstin Sommer, Manager of the Participatory Slum Upgrading Programme of UN-Habitat, said: “With the COVID-19 momentum, we all need to play a part for a bigger mission to improve the living conditions of the most vulnerable in our cities. That won’t work without the contribution of the private sector.”

EU-Startups

[OurCrowd CEO Jon Medved in CrowdFund Insider] OurCrowd CEO Jon Medved: Smart venture capitalists and other investors know that downturns often become the best venture vintages

Crowdfund Insider spoke to Jon Medved, founder and CEO of OurCrowd for an update on the online investment platform’s operations and the impact of COVID. Our conversation is below.

Read more here.

The post [OurCrowd CEO Jon Medved in CrowdFund Insider] OurCrowd CEO Jon Medved: Smart venture capitalists and other investors know that downturns often become the best venture vintages appeared first on OurCrowd Blog.

OurCrowd Blog

Unexpected Growth in Smart Office Market Types and Applications, Outlook, Industry Drivers, Ongoing Trends, Future Demand, Challenges, Top Companies & Forecast 2025 – Owned

Unexpected Growth in Smart Office Market Types and Applications, Outlook, Industry Drivers, Ongoing Trends, Future Demand, Challenges, Top Companies & Forecast 2025  Owned
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PM Narendra Modi to interact with students today at grand finale of Smart India Hackathon 2020 – Zee News

PM Narendra Modi to interact with students today at grand finale of Smart India Hackathon 2020  Zee News
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Beyond Boycott China, India’s Atmanirbhar Dream Rests On Smart Reforms Driving Domestic Production – News18

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NY trying to build the post-COVID smart city, turns to Israeli innovation for solution – Geektime

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Cisco acquires Modcam to make Meraki smart camera portfolio even smarter

As the Internet of Things, proliferates, security cameras are getting smarter. Today, these devices have machine learning capability that help the camera automatically identify what it’s looking at — for instance an animal or a human intruder? Today, Cisco announced that it’s acquired Swedish startup Modcam and making it part of its Meraki smart camera portfolio with the goal of incorporating Modcam computer vision technology into its portfolio.

The companies did not reveal the purchase price, but Cisco tells us that the acquisition has closed.

In a blog post announcing the deal, Cisco Meraki’s Chris Stori says Modcam is going to up Meraki’s machine learning game, while giving it some key engineering talent, as well.

“In acquiring Modcam, Cisco is investing in a team of highly talented engineers who bring a wealth of expertise in machine learning, computer vision and cloud-managed cameras. Modcam has developed a solution that enables cameras to become even smarter,” he wrote.

What he means is that today, while Meraki has smart cameras that include motion detection and machine learning capabilities, this is limited to single camera operation. What Modcam brings is the added ability to gather information and apply machine learning across multiple cameras, greatly enhancing the camera’s capabilities.

“With Modcam’s technology, this micro-level information can be stitched together, enabling multiple cameras to provide a macro-level view of the real world,” Stori wrote. In practice, as an example, that could provide a more complete view of space availability for facilities management teams, an especially important scenario as businesses try to find safer ways to open during the pandemic. The other scenario Modcam was selling was giving a more complete picture of what was happening on the factory floor.

All of Modcams employees, which Cisco described only as “a small team” have joined Cisco, and the Modcam technology will be folded into the Meraki product line, and will no longer be offered as a stand-alone product, a Cisco spokesperson told TechCrunch.

Modcam was founded in 2013 and has raised $ 7.6 million, according to Crunchbase data. Cisco acquired Meraki back in 2012 for $ 1.2 billion.

Startups – TechCrunch