ENLINE closes Seed round of 1,1 Million Euros
The start-up specialized in Software development for Power Systems, bringing Power Engineering, Data Science, Artificial Intelligence and IoT to the Power Grids Industry, has just closed a 1,1 million euros investment round with EIT InnoEnergy, HCapital Partners and other individual investors. This investment allows Enline to accelerate its product development and to foster the commercial implementation of the solutions, that are currently being used by important energy players in Europe, North America, Latin America, and Australia. To support this new development phase, ENLINE is expanding the software, data analytics and business development teams.
Enline provides an innovative Digital Twin sensor-less technology with advanced analytic and diagnostic algorithms for the monitoring of transmission assets. Enline technology is based on solid physics principles and advanced analytics that are used to model the present state of every asset in a Digital Transmission Line installation, using state-of-the-art techniques of optimization, control, and forecasting, so that daily operation can be more accurately predicted according to availability, performance, reliability, wear and tear, flexibility, and maintainability. ENLINE’s disruptive digital twin technology allows predictive and real-time full monitoring, fault detection, transmission losses reduction, maximize power transmission capacity by Dynamic Line Rating, and design optimization of new transmission lines, making Power Grids smarter, safer, and more efficient and reliable.
Josep-Miquel Torregrosa, Investment Director at EIT InnoEnergy, says “It is very good news to have HCapital Partners on board, they will surely contribute to the consolidation and internationalization of Enline, a company we’ve been supporting since 2018”.
Manuel Lemos, Co-founder and CMO at Enline, states “This round is important for us to implement our growth strategy, including the expansion to new markets. Our existing and new investors validate the relevance and impact of our technology and strategy in a highly competitive and growing market”
Gonçalo Sousa Coutinho, Director at HCapital Partners, states “we are very pleased to join Enline’s growth journey. We believe that with this new funding round Enline will be able to consolidate the leading position of its Digital Twin solution in the energy field and accelerate its business growth, especially by entering new international markets”.