Munich, 08.02.2023
Enmacc GmbH the leading over-the-counter (OTC) energy trading platform in Europe, is pleased to announce the second and final closing of its Series B financing round, three months after raising an 8-figure sum as part of the first closing.
Bayern Kapital’s Wachstumsfonds Bayern joins the list of top-tier investors in Enmacc – alongside Alantra’s Klima Energy Transition Fund, which led the financing round, and the 10x Group. Both used this second closing as an opportunity to increase their commitment. Previous investors also include Chevron Technology Ventures, Piton Capital, and Illuminate Financial.
Enmacc has assumed a core role in wholesale energy trading in Europe. The fast growing Munich-based technology company demonstrated exceptional resilience to market volatility by reaching record trading activity at the end of 2022. Building on this momentum, the company is using the Series B capital to strengthen its position across Europe and introduce additional commodities, starting now with guarantees of origin then soon followed by CO2 emission allowances (EUAs).
Jens Hartmann, CEO of Enmacc, expressed: “We are delighted to receive the trust and support of Bayern Kapital as a long-term partner. This funding will allow us to expand our reach and enhance our platform capabilities, and is an enormous opportunity to meet the needs of the rapidly evolving energy market and the necessity to decarbonise.”
“In just a couple of years, Enmacc has established itself as a leading company in the energy industry through their innovative approach to digitalising the energy trading sector. We see them as a key player in shaping the future of the industry, and we are proud to support them in their journey.” explained Monika Steger, Managing Director at Bayern Kapital.
About Enmacc GmbH
Enmacc is Europe’s largest OTC energy trading platform. Built by traders, for traders, Enmacc digitalises the energy trading process. Their digital marketplace enables members to trade faster, more widely, and with greater control. Enmacc is trusted by over 450 customers, and hosts a growing network of almost 2000 traders from various institutions — energy suppliers, industrial companies, energy trading houses, and municipal utilities.
Enmacc is now using its reach in the European market to accelerate the energy transition. Moving beyond power and gas, they have started rolling out environmental commodities — like guarantees of origin, and soon carbon allowances — trading on the platform.
Enmacc was founded in 2016 and is headquartered in Munich, Germany. It has grown into a leading B2B technology firm, with a diverse and expanding team.
About Bayern Kapital GmbH
Bayern Kapital GmbH, based in Landshut (Germany), is the venture/growth capital company of the Free State of Bavaria. It supports innovative high-tech companies in Bavaria through their various growth phases, from seed to later stage, with equity capital from EUR 0.25 to 25 million. Bayern Kapital often closes gaps in the VC area in proven consortium arrangements with private investors (business angels, family offices and corporate ventures).
Bayern Kapital manages specialist investment funds with a volume of around EUR 700 million. Since its formation in 1995 at the initiative of the state government, the wholly-owned subsidiary of LfA Foerderbank Bayern has invested around EUR 400 million of its own equity capital so far in around 300 start-ups and scale-ups from industries such as life sciences, software & IT, materials & new materials, nanotechnology and environmental technology. More than 8,000 long-term jobs in sustainable companies have been created in Bavaria. The active portfolio currently comprises around 80 companies.
Examples of the many ground-breaking success stories that Bayern Kapital has already supported at an early stage include EOS (now the world’s leading technology provider in industrial 3D printing of metals and plastics), Proglove, Fazua, SimScale, Scompler, egym, Parcellab, Cobrainer, Quantum Systems, Casavi, Theva, Riskmethods, Tubulis, Catalym, Immunic, Sirion and many more.
