Our Investment in Flower: the pivotal player in renewable energy and energy storage

We are delighted to announce our investment in Flower, the Swedish startup at the forefront of shaping a future powered by renewable energy. We led its €45m Series A round alongside the participation of Giant Ventures, 82an Invest, Sony Innovation Fund; and angel investors Thomas von Koch, Partner at the EQT Foundation and Founder of game developer King, Sebastian Knutsson. 

As the energy landscape shifts towards higher renewable production, Flower addresses the resulting uncertainties in grid stability, prices, and energy volume through advanced forecasting, optimisation, and trading software. This new round will be used towards Flower’s pan-European expansion and brings the company’s total funding to €100m.

Founded in 2020 by John Diklev, its technology not only enhances grid resilience but also creates new revenue streams for asset owners. In addition to their software solutions, the company is also emerging as a leader in grid-scale Battery Energy Storage Systems (BESS), trusted by grid owners across Europe. These systems play a critical role in managing fluctuations in the grid and offer a reliable alternative to costly and time-consuming grid expansions. 

Its AI-driven platform, Power Refinery, provides asset owners with unparalleled control and insights, making energy management more precise and predictable. By combining advanced machine learning with a flexible portfolio of energy assets, Flower is paving the way for a fossil-free energy system.

Our partner Pär-Jörgen Pärson who is joining the company’s board adds, “We’re very excited about the team’s pioneering approach to addressing the challenges of renewable energy with cutting edge AI driven optimisation combined with grid level battery systems to transform the grid throughout Europe. We have never seen such a fast moving company”.

Through their innovative approach, Flower not only supports the current energy system but also contributes to the global shift towards sustainability, enabling a reliable and interconnected world powered by clean energy. We’re very excited to support the company’s growth journey in its commitment to pursue a cleaner future.