Skye: Revolutionizing Industrial Energy Management with AI Technology
Deal News | Apr 15, 2025 | byFounders LLC
ByFounders LLC has announced an investment in Skye, a Stockholm-based company founded in 2024 that provides an AI-driven software solution for energy-intensive industries to manage and optimize their power consumption in real-time. As the EU moves towards a renewable-dominated energy mix by 2030, the rise in demand for Distributed Energy Resources (DERs) calls for innovative solutions to manage the newly established volatility in the electricity markets. Skye stands out for offering industries a tool to navigate through this uncertain market landscape by forecasting, optimizing, and controlling energy consumption based on live price signals and grid conditions. Skye's seamless integration into existing systems allows businesses to avoid costly peak-hour consumption and exploit surplus renewable power opportunities. The team at Skye is led by industry veterans, including Tor Espen and Linus, and boasts experience with strategic positions in renowned organizations like Fortum, Hafslund, ABB, and EQT. After only recently leaving stealth mode, Skye has already embarked on several pilot projects with top Swedish corporations, demonstrating promising outcomes in cost savings and additional revenue generation. This led byFounders, along with Emblem and Hawktail, to invest $3 million in Skye's pre-seed round, acknowledging the firm's potential not just in delivering financial returns but also in contributing significantly to sustainability and reducing environmental impact.
Sectors
- Renewable Energy
- Artificial Intelligence in Energy Management
- Venture Capital
Geography
- Sweden – Skye is based in Stockholm, Sweden, and it serves some of Sweden's top 500 companies.
- European Union – The article references the EU's renewable energy goals and market dynamics that are central to Skye’s business model.
Industry
- Renewable Energy – The article discusses the shift to renewable energy sources in the EU and the challenges it presents for energy markets, which Skye aims to address.
- Artificial Intelligence in Energy Management – Skye offers an AI-driven platform for optimizing energy consumption, indicating its relevance to AI applications in sustainable energy management.
- Venture Capital – The investment by byFounders in Skye signifies the role of venture capital in supporting innovative technology solutions in the energy sector.
Financials
- $3 million – The amount invested by byFounders, Emblem, and Hawktail in Skye’s pre-seed funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Skye | Target | Company | A Stockholm-based company providing AI-driven energy consumption optimization solutions. |
| byFounders LLC | Investing Company | Company | A venture capital firm that led the pre-seed investment round for Skye. |
| Emblem | Co-investor | Company | A co-investor in Skye’s pre-seed funding round. |
| Hawktail | Co-investor | Company | A co-investor in Skye’s pre-seed funding round. |
| Tor Espen | Co-founder | People | An experienced founder in the energy space, previously associated with major electricity firms. |
| Linus | Co-founder | People | An indie hacker with experience building tech solutions at the intersection of energy, IoT, and AI. |
| Andreas Lundgren | Team Member | People | Previously VP Engineering at Tink, now part of the Skye team. |
| Matteo Varisco | Team Member | People | Led advanced analytics and energy management at ABB, now part of the Skye team. |
| Sara Rywe | Partner | People | Lead investor from byFounders, impressed by Skye's team and potential. |