INNOVEST-Backed Startup “GridDuck” Gets Oversubscribed on SEEDRS

08 July.

We are delighted to announce that UK-based start-up GridDuck has successfully raised GBP 367,000 on SEEDRS, which represents an oversubscription of +22% vs. its targeted GBP 300,000 round.

GridDuck is a Cleantech Innovation Start-up that leverages on technology to provide companies with Intelligent Energy Saving Systems that help reduce carbon emissions as well as energy bills. GridDuck already has its solutions running across 187 sites, managing the energy consumption of 514 appliances. In 2020, the company was awarded the Rushlight Energy Reduction Award of the year.

GridDuck will use the funds of this capital raise to accelerate its growth by expanding into Europe. The company plans to increase the size of its sales force, and to further invest in the continuous development of its technology.

Investments in Cleantech continue to show strong growth, with global investments in the energy transition industry totaling $755 Billion In 2021. This sector is of great interest to us, as an investment opportunity, but also since it perfectly aligns with our mission of advancing environmental sustainability. Gridduck expansion into the Middle East is in the pipeline, and INNOVEST will extend all support to make this expansion lean and efficient.