Flower, a rapidly growing energy tech company based in Sweden, has successfully closed its Series A funding round, raising €45 million. This latest investment boosts the total funding raised by the company to €100 million. The round was led by Northzone, a prominent venture capital firm, with significant contributions from Giant Ventures, 82an Invest—a joint venture of the Wallenberg Foundation’s FAM and returning investor 41an Invest, the investment vehicle of H&M founder and CEO Karl-Johan Persson and entrepreneur Stefan Krook—Sony Innovation Fund, and several high-profile angel investors. Thomas von Koch, Partner at the EQT Foundation, and King game developer founder Sebastian Knutsson joined the round. Northzone General Partner Pär-Jörgen Pärson will take a seat on Flower’s board.

Expanding Across Europe’s Energy Market

Flower plans to use the fresh capital to advance its ambitious plans for pan-European expansion. The company aims to broaden its operations beyond Sweden and Denmark, venturing into key markets in the DACH region (Germany, Austria, and Switzerland), France, the Netherlands, and Belgium. This expansion is set to unfold over 2025 and 2026 as Flower seeks to bring its energy solutions to a wider European audience.

The company’s core focus is on developing and scaling its infrastructural Battery Energy Storage Systems (BESS). These systems are vital for optimizing the storage and distribution of renewable energy, a critical component of the global transition toward sustainable power grids. By leveraging advanced, AI-driven optimization technology, Flower aims to address the volatility and intermittency often associated with renewable energy sources such as wind and solar.

Industry Leaders Backing Flower’s Mission

Flower’s latest funding round highlights the company’s growing reputation in the energy tech sector and its appeal to high-profile investors. Pär-Jörgen Pärson of Northzone, who has joined Flower’s board, expressed his enthusiasm for Flower’s groundbreaking approach. “We’re very excited about the team’s pioneering approach to addressing the challenges of renewable energy with cutting-edge, AI-driven optimization combined with grid-level battery systems to transform the grid throughout Europe. We have never seen such a fast-moving company,” he said.

Cameron McLain, Co-founder and Managing Partner of Giant Ventures, emphasized the significance of energy flexibility in building a resilient power grid. He praised Flower’s impressive growth and the company's bold, vertically-integrated approach. "Energy flexibility is essential to building a resilient energy grid. Flower has achieved impressive growth with its bold vertically-integrated approach, and we’re excited for what’s next,” McLain noted.

Sony Innovation Fund’s Managing Director EMEA, Antonio Avitabile, also underscored the strategic alignment between Flower’s mission and the fund’s vision for a sustainable energy future. “Flower’s cutting-edge optimization platform and portfolio of flexible energy assets will help accelerate the transition towards renewable energy, which aligns well with our vision for a sustainable future,” Avitabile remarked. “We are excited to join Flower on their growth journey and to support the team with internationalization.”

Achievements and Future Prospects

The Series A funding round comes during a transformative period for Flower. Earlier in 2024, the company acquired Sweden’s largest battery park and announced a series of new strategic partnerships aimed at solidifying its role in Europe’s evolving energy landscape. Reflecting on these milestones, John Diklev, Founder and CEO of Flower, highlighted the impact of the company’s recent advancements. “2024 has already been a pivotal year in the growth of Flower, with our acquisition of Sweden’s largest battery park and the announcement of significant new partnerships,” Diklev said. “Completing our Series A round, and bringing on board some of Sweden and Europe’s leading investors in the process, is not just a major milestone on the Flower journey, but towards the energy systems of tomorrow that we are helping to build.”

Flower’s vertically integrated model and strategic focus on AI-driven grid optimization have positioned the company as a leader in the development of next-generation energy solutions. By facilitating greater flexibility in energy storage and distribution, Flower is set to play a vital role in Europe’s efforts to accelerate the renewable energy transition. As the company expands its geographical reach, it aims to provide a robust infrastructure for balancing the continent’s energy needs while mitigating climate impact.

Flower’s successful €45 million Series A funding marks a significant step in the company’s mission to revolutionize Europe’s energy infrastructure. With backing from some of the most influential investors and a robust plan for pan-European expansion, the company is poised to drive forward the adoption of renewable energy solutions. As it develops its cutting-edge Battery Energy Storage Systems and continues to expand across new markets, Flower is well-positioned to become a pivotal force in creating a more sustainable and resilient energy future.