Estonian company Fusebox raises €2.5M

Estonian platform Fusebox brought €2,5M from the Dutch energy group of companies Eneco and Polish venture firm PKO Bank Polski VC. Fusebox plans to use the new investment for hiring and expanding to the Nordic and Western European markets. 

Fusebox was launched in 2014. It is a SaaS solution created to manage electricity consumption. The company helps to save on electricity bills by optimizing usage while earning additional income from the balancing energy market. The company claims that its solution helps consumers to save on electricity bills by up to 20% and decreases CO2 emissions by an average of 20 tons per year. Earlier, the company raised investment from Fly Ventures and Contrarian Ventures.  

Venture firm PKO Bank Polski VC was founded by the Polish bank PKO Bank Polski. The fund primarily invests in early-stage and growth companies located mainly in European and U.S.-based companies.