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Belgian Startup Gorilla Raises $25 Million to Expand Energy Data Analytics Platform

Gorilla, a firm based in Belgium that assists energy suppliers in analyzing large amounts of data, has successfully raised $25 million. A Belgian startup called Gorilla, which provides real-time data and analytics for pricing and forecasting, has successfully raised €23 million ($25 million) in a Series B round of funding. Headline, a venture capital firm based in the United States, was the company that led the transaction.

Gorilla, which was established in 2018, collaborates with organizations that provide energy services in Europe, the United States, and Australia. These organizations include Centrica, the parent company of British Gas, Shell Energy, and Gas South, which is situated in Atlanta, Georgia. Using the cloud-based platform provided by Gorilla, these businesses are able to process enormous amounts of energy data and generate insights on topics such as consumption trends. This enables them to estimate future energy needs and identify areas in which they may need to make improvements.

Previously, Gorilla was able to raise approximately €6 million, which is equivalent to almost $6.5 million. With this newfound capital, the firm intends to expand further into other European markets, notably Germany, which is experiencing elevated energy prices, and to grow further in the United States. Indeed, the new fundraising effort comes at a time when energy prices have skyrocketed in certain places, such as Texas. For example, the cost of power in Houston alone has increased by sixteen percent over the course of the previous year, as the hot weather has increased the demand for air conditioners.

When we add in geopolitical reasons like the conflict between Russia and Ukraine, ever-changing legislation, increasingly scattered energy sources spanning fossil and renewable sources, and the growing usage of connected technologies, we have created an environment that is ideal for the growth of energy businesses that are focused on data.