FlexiDAO, a blockchain startup announced today a Series A round of funding in the amount of $6.5 million. The round was led by SET Ventures, a Dutch cleantech firm, which received investment from Google and Microsoft Climate Innovation Fund. EIT InnoEnergy is an existing backer.
FlexiDAO provides software solutions to help corporations monitor and manage their renewable energy consumption. Both Microsoft and Google are clients. FlexiDAO encourages companies to use renewable energy 100% of the time, providing an energy tracking solution that uses blockchain technology to track all energy consumption back to its source.
FlexiDAO blockchain solution provides 24/7 carbon-free electricity (CFE). Microsoft used CFE 78% of all hours. Vodafone is another client that received the 24-hour CFE score.
FlexiDAO was founded in Spain and partnered in 2018 with Spanish energy companies like Acciona and Iberdrola to ensure the sustainable origin of green hydrogen. In 2019, FlexiDAO was ranked number 100 on the Startup Energy Transition’s (SET) Top 100 List. FlexiDAO is an associate member and uses the technology of Energy Web. Its technology uses Proof of Authority and is built on Ethereum’s public blockchain.