Belgian startup NOX Energy has secured €3 million in a seed funding round co-led by Rise PropTech and Volve Capital. Additional investors include Seeder Fund, Uneti Ventures, Fair Capital Impact Fund, and 100in. The company, founded in 2024 by Axelle Moortgat, Louis Clermont, and Martin Michaux, now employs 13 people.
The software platform connects heat pumps and solar panels to energy suppliers and grid operators. By managing device consumption based on electricity prices, the system aims to provide flexibility to the power grid. NOX Energy currently reports over 10,000 connected devices and counts Eneco and Frank Energie among its clients.
The new capital will support the company's expansion beyond its current markets in Belgium and the Netherlands. The startup intends to integrate its optimization technology directly into existing manufacturer and supplier applications. This follows a previous funding round of approximately $1 million raised in December 2024.
The company aims to function as a standardized infrastructure for energy flexibility, similar to the SWIFT system for banking. Its platform forecasts energy consumption for 24 hours and adjusts device activity to optimize costs. According to the company, households can achieve savings of up to 28% and annual earnings of up to €200.
