Cloud-based data processing platform is enabling energy and utilities to make better decisions with data
Gorilla, the innovative energy tech scale-up, today announced that it has secured £5.2 million in its Series A. The investment will enable further development to its platform and help energy companies continue to adapt to the changing energy landscape with greater speed, efficiency, and agility. Led by the ProVen VCTs, with participation from PMV and VLAIO, Gorilla is set to significantly expand both its team and range of solutions.
Gorilla’s powerful and intelligent cloud-based platform is already being used by British Gas, ScottishPower, Shell Energy, Engie and other major players. The platform enables them to gather and process the vast amounts of data they need to respond to the current energy crisis which also helps to drive the energy transition towards net zero. Gorilla currently operates with a workforce of more than 40 employees at its offices in London, Antwerp, and Melbourne.
Part of the solution lies hidden in the increased market volatility generated by an emerging decentralised energy market and the vast amount of data that comes with that evolution. However, until now, processing that data and extracting the necessary insights has been a cumbersome, complicated and, for many energy companies, an insurmountable task. That is precisely where Gorilla comes in. Gorilla’s cloud-based data processing platform is capable of processing enormous amounts of data, thus accelerating the pace of innovation and enabling energy and utility companies to make giant leaps forward in terms of efficiency and performance.
Gorilla expects to see an exponential growth in the demand for data services in the energy sector over the coming years. In fact, Bloomberg predicts that energy companies will triple their investments in the transition to 100% green, renewable energy by 2025 and double them again by 2030. In order to capitalise on this trend, Gorilla recently raised over £5 million from the ProVen VCTs and Belgian public sector organisations PMV and VLAIO.
Ruben Van den Bossche, co-founder and CEO of Gorilla: “The energy transition is also transforming the way the energy market works. Our data-driven applications make it easy for energy companies to develop new price plans and offer new products. Which, in turn, encourages more flexible and sustainable energy consumption while helping consumers manage their energy bill. Think of innovative solutions for electric cars and IoT devices. But also solutions that make more efficient use of existing infrastructure, thereby reducing the need for additional expenditure.
“The need to rethink the way we produce, distribute and consume energy is more urgent than ever. We stand at a turning point in our history. Gorilla is here to help the energy sector become carbon-neutral faster and more cost-effectively.”
Eyal Malinger, partner at Beringea, the investment manager of the ProVen VCTs, commented: “The Gorilla team has built a collaborative, cloud-based, high-performance modelling platform, which provides 100 times greater performance than legacy spreadsheet-based solutions. Energy companies are facing an exponential growth in data processing requirements, and – as decarbonisation continues to accelerate – it has never been more critical to provide our energy sector with digital tools that can manage the greater complexity and volatility that comes with this transition. Gorilla does exactly this, and we are excited for the next chapter of its growth.”
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Find out more about the ProVen VCTs’ annual shareholder event, which featured insights from Beringea, the investment manager, the boards of the two funds, as well as several of the companies from the portfolio
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