Emulate Secures €5M to Cut Energy Costs for Millions and Power a Smarter, Greener Grid Worldwide

Emulate, a pioneering platform for residential energy flexibility, has successfully closed a €5M Series A funding round led by Helen Ventures, with participation from Enpulse and existing investors including Skellefteå Kraft and CC.VC. Emulate's founders will maintain significant ownership stakes in the company. This funding will support Emulate’s expansion across Europe, the U.S., and other key markets, accelerating its efforts to empower utilities and consumers with more cost-efficient and smart flexibility solutions.

As renewable energy adoption grows and distributed energy resources (DERs)—such as heat pumps, batteries, EV chargers and solar panels—become more common, utilities play a critical role in keeping the grid stable and making energy use more efficient. Emulate’s software unlocks the benefits of these DERs for both consumers and utilities, optimizing their energy consumption to minimize carbon impact, reduce costs for consumers, ease pressure on the grid, and increase utilities’ margins by trading demand-side flexibility on electricity markets.

“The energy system is evolving rapidly,” said Shwan Lamei, CEO of Emulate. “In the next decade, millions of distributed energy resources will come online. For utilities to unlock their full potential, these devices must align their consumption with clean, affordable energy. Emulate is leading this shift by making energy market participation seamless and lucrative for consumers and utilities alike.”

Scaling Grid Flexibility Across Europe and the U.S.

Emulate has already established itself as a leader in Sweden, working with most of the country’s top energy retailers. The company has also expanded into neighboring Scandinavian markets, won key customers in Austria and Germany, and has expanded its foothold in the US, showcasing the applicability of its solution across regulatory and operational landscapes that can vary widely.

“The rapid buildout of wind and solar power on the grid is and will continue to be vital to decarbonization,” explains Mikael Myllymäki, Vice President and Head of Helen Ventures. “The next challenge is adding enough flexibility to manage the increasing intermittency by getting consumers involved in balancing supply and demand at scale, incentivizing them to do so with lower electricity bills. Emulate has built the toolset that enables utilities to do just that. Emulate makes demand-side management easy for utilities and their customers, which has allowed them to grow quickly on both sides of the Atlantic. We are excited to join Shwan and his team in scaling the business!”

Swedish Innovation Driving Global Energy Solutions

This funding highlights Sweden’s growing reputation as a global leader in energy innovation. With investment from international backers like Finland’s Helen Ventures and Germany’s Enpulse, Emulate is leveraging Swedish ingenuity to address the global challenge of enabling grid flexibility and scaling smarter energy systems. This internationalization effort positions Emulate as a Swedish success story with global impact, showcasing the role of cutting-edge software in addressing one of today’s most pressing challenges.

Emulate’s software, stemming from co-founder Daria Majidian’s research at MIT, integrates multiple device types into a single platform, including batteries, EV chargers, solar inverters, and heat pumps. Emulate offers a unified solution that balances ease of implementation with maximum impact.

“Emulate impresses with an innovative solution that redefines consumption flexibility in the energy market and makes it highly efficient. This technology has the potential to lower energy costs and enhance grid stability – an essential contribution to the energy transition," said Florian Fichter, CEO at Enpulse. "We see tremendous opportunities for both grid operators and end consumers and are excited to support Emulate in expanding its impact across Central Europe and beyond.”

A Milestone Investment

This Series A funding represents a pivotal moment for Emulate as it scales its partnerships with utilities and DER manufacturers across Europe and the U.S. The investment will enable the company to enhance its technology further, expand into new markets, and deepen its impact on grid flexibility and decarbonization efforts.

“This space has enormous potential for innovation,” added Lamei. “With the support of our investors, we are in a position to accelerate our growth, scale our solutions, and continue driving the transformation toward a smarter, more flexible energy future.”

Emulate’s innovative approach to demand flexibility is reshaping how utilities and consumers participate in the energy transition, building a cleaner, more resilient energy system worldwide.