Summa expands footprint in Smart Energy market with investment in Metry
Stockholm, 5 March 2019 – 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.