€27 million for smart batteries from Utrecht
Iwell, based in Utrecht, manufactures smart batteries. They recently raised €27 million.
Published on April 29, 2025
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Iwell, based in Utrecht, manufactures smart batteries. They have raised €27 million to continue their growth. The money comes from Invest-NL, Rabobank, and French investor Meridiam. Iwell plans to use this money to expand to other countries in Europe, such as Germany and the United Kingdom.
Iwell's batteries store solar energy for businesses. They use their own software to do this. This software predicts power consumption and selects the cheapest energy source.
No more space on the grid
According to co-founder Jan Willem de Jong, Iwell helps companies when there is no more space on the electricity grid. Many companies in the Netherlands can no longer get enough power from the grid. As a result, they have to postpone expansion or move abroad.
Significant investment in software and personnel
Iwell is also going to invest heavily in software. This should enable it to predict electricity consumption even more accurately. The company is therefore looking for additional staff, such as programmers and data analysts. Iwell currently employs 85 people. Dozens more will be added this year.
The company has an annual turnover of approximately €27 million. Over the past three years, Iwell has grown by 1600%.
