neoom

About neoom

Based in Freistadt, Austria, neoom operates as a provider of integrated and decentralized energy solutions. Founded in 2018 by Walter Kreisel, the company targets the renewable energy transition by supplying a combination of hardware and software to residential and small to medium-sized enterprise (SME) clients.

Walter Kreisel’s background is rooted in his family's electronics business, which provided him with early exposure to the industry. Before neoom, he founded a high-end smart home integration company in 2011 after completing his MBA, applying his expertise to create one of Austria's first fully automated private homes reliant on renewable energy. This experience directly informed the creation of neoom, which aims to address the shortcomings of aging energy grids by enabling decentralized power generation and management.

The company's business model involves selling hardware, such as battery storage systems (BLOKK, KJUUBE, STAAK) and EV charging stations, primarily to a network of over 300 installation partners in the DACH region (Germany, Austria, and Switzerland). These partners then install the photovoltaic systems for end-users. This B2B approach is complemented by a direct sales channel for enterprise clients, which include notable names like IKEA and Post AG. A significant portion of the business focuses on its proprietary software, an Internet of Energy (IoE) platform called NTUITY. This hardware-agnostic platform allows users to manage energy flows, optimize consumption, and control their energy infrastructure. The platform also enables participation in local energy communities through a feature called "KLUUB", which allows for peer-to-peer energy trading.

Financially, neoom has demonstrated substantial growth, with revenues reported to have increased from approximately €15 million in 2021 to over €50 million in 2022. The company has successfully secured significant funding to fuel its expansion, raising a total of $95.1 million over four rounds. Its latest Series B funding round in March 2024 brought in $37.9 million, led by BAWAG Group, indicating strong investor confidence from institutions like Summiteer, B&C Group, and ING Sustainable Investments.