Welcome to our 2024 Impact Report – a look at what our portfolio companies have done to move the needle. This year’s edition highlights the grit, progress and potential of impact startups in a world that feels anything but predictable. It’s a snapshot of where we are, what we’ve learned, and why we believe the case for impact has never been stronger.
Industrial businesses are the backbone of Europe’s economy. But right now, they’re under pressure from every angle: soaring energy prices, grid volatility, and a desperate need to decarbonise.
Electricity in Europe is now twice as expensive as in the US or China. One million manufacturing jobs have vanished in just four years. If we want Europe to stay competitive, we need to reinvent not just how we power our industries, but who gets access to the clean, and affordable energy they need to lead the way.
That’s why we invested in trawa.
The Problem
Europe’s energy system wasn’t built for the world we’re entering. As cheaper renewables replace costly fossil fuels, the grid is becoming more complex, less predictable, and harder to manage. For industrial and commercial businesses, especially mid-sized players, that means navigating higher costs, bigger risks, and growing uncertainty, all while trying to accelerate their own decarbonisation.
It’s a tough ask. Many of these companies are eager to act, but locked out by legacy systems and lack of support. They don’t just need clean electricity. They need control, visibility, and real savings to make sustainability viable.
The Solution
trawa offers the infrastructure to cut costs and carbon without compromise. Their platform combines access to sustainable electricity with smart, AI-powered software that helps companies optimise how they buy, use, and manage energy. This includes integrating battery storage and other decentralised tech to reduce grid strain, increase self-consumption, and flatten peak loads.
And the results speak for themselves. Customers using trawa can save up to 30% annually on electricity.
David Budde, co-founder and CEO of trawa, says: “For many SMEs, energy costs have become a long-term liability. With trawa, we’re giving them an intuitive, intelligent solution that saves money and drives the transition. We’re building a better energy experience than traditional providers ever could.”
The Funding
trawa has raised €24 million in a Series A round led by Headline, with participation from Norrsken VC and existing investors Balderton, Speedinvest, and AENU.
“We invest in solutions that truly move markets, and trawa is a textbook example of this. The company is perfectly positioned for where Europe is headed. The continent’s future depends on clean, affordable, and stable electricity, but today’s energy system locks out the very businesses that could drive the transition. trawa changes that by giving SMEs the tools to cut costs and decarbonise at scale. It’s exactly the kind of solution Europe needs to stay competitive”, says Agate Freimane, General Partner at Norrsken VC.
The funding will support trawa’s expansion across the DACH region and fuel continued innovation in their product stack, helping more companies unlock energy efficiency, reduce emissions, and stay competitive in an increasingly clean economy.
They’re already powering more than 100 commercial customers across 3,000+ sites, including rail operator Flixtrain, the Martim hotel chain, textile manufacturer SETEX, and electronics retailer Conrad.
The Future
If Europe wants to lead in the next era of industry, it needs energy systems that are cleaner, smarter, and more resilient. trawa is enabling that, and empowering the companies at the heart of Europe’s economy to become drivers of the transition, not victims of it.
We’re super proud to welcome David Budde, Max Lüddemann, and Robert Quick, and the entire trawa team to the Norrsken VC family.
