Metry raises 14 million SEK for continued growth
Swedish energy tech company Metry, whose platform helps the real estate sector digitise and structure energy data to become more energy efficient, is announcing a rights issue and investment of 14 million SEK. The funds will support the continued development of the company’s position as an unbiased/independent actor in the ecosystem for energy data. The lead investment comes from Summa Equity, followed by Chalmers Ventures, angel investors and Metry’s chairman of the board Andreas Rydholm.
In a reality where 40% of the world’s energy data is consumed by the real estate sector, Metry has built a platform that digitises the availability of energy data and helps the real estate sector become more energy efficient. Metry manages billions of data points for Sweden’s largest real estate companies, such as Vasakronan, Catena, Rikshem and Kungsleden. With Metry, the users can focus on saving energy, instead of spending time on data collection and administration. The fundings will boost continued development of the company’s position as an unbiased actor in the ecosystem for energy data, while growing in Sweden and abroad.
— Since sustainability is one of the core values of Metry, Summa Equity’s purpose and investment focus on solving global challenges is a great fit. The new growth funds serve as proof that many out there share our vision to help build a more energy efficient real estate sector. We look forward to continued growth and feel empowered going forward to have Summa Equity onboard supporting our journey, says Joel Torkelsson, Chief Commercial Officer and co-founder in Metry.
— We are excited to support the great team in Metry in creating a more digitised and energy-efficient building sector which currently accounts for 36 % of the CO2 emissions in Europe. Summa has already since 2016 invested in Egain, the leading provider of building energy management solutions, and we are expanding our commitments in a fast developing Smart Energy market. The purpose is to make the relevant data easier available and use data smartly to reduce energy waste, improve customer comfort, and improve real estate values. We believe Metry can be an important part of this development, says Gisle Gluck Evensen, Director in Summa Equity.
Founded in Gothenburg 2012 and with an annual turnover of 9 MSEK, Metry hosts a passion for web, big data, cloud services and making energy data more available. In a reality where 40% of the world’s energy consumption comes from the real estate sector, Metry digitalise energy data and makes the property sector more energy efficient.
About Summa Equity
Summa Equity was founded in 2016 and closed its first private equity fund in February 2017 with commitments of SEK 4.7 billion to focus on investments in the Nordic SME market. The company invests in sectors associated with three megatrend-driven themes: Resource Efficiency, Changing Demographics and Technology-enabled Businesses, and has built a portfolio of companies that contribute to positive development of the UN Sustainable Development Goals within areas such as recycling, energy efficiency, health, education, and technology.
For more information, please contact:
Chief Commercial Officer and co-founder, Metry
+46 709 54 0445
Gisle Gluck Evensen
Director, Summa Equity
+47 918 00 566
Investment Manager, Chalmers Ventures
+46 (0) 769 01 34 51
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