Two members of the Business Angel Network Flanders (BAN Flanders) got into business with the Belgian company nanoGrid. They joined the four existing investors and together, they boosted the company’s capital with €600.000. The funds will be used for the commercial rollout that nanoGrid is planning in order to launch their technology on new markets.

nanoGrid develops an energy management system that allows companies and organisations to analyse, visualise and optimise their energy use in their different sites. The 100% own technology maps all relevant energy circuits and experts of the company advise the clients on how to configure and to use existing installations, only by using the client’s existing technology and tools.

In the next few years, the company aims to get a foothold in France, Germany, Spain and Ireland. The extra funds will also be used as a bridging capital to pre-finance developments and installations in order to maintain the low entry fee for the client.

Next to their financial support, the two Business Angels that signed will also their years of experience at the disposal of the company to add value in the next growth steps.

By Gabriela Fernández Scala