Munich-based Furo raises €3.44 million to make industrial battery storage economically viable

Munich-based energy software firm Furo has secured €3.44 million ($4 million) in funding to advance its technology and expand across Europe. Led by US investor TQ Ventures, the round also saw participation from Sandberg Bernthal Venture Partners, Neo and CDTM Venture Capital. Founder Lena Sophia Voß explained that Furo's customers purchase the company's software not for the technology itself, but to reduce their electricity bills.

In markets characterized by volatile energy prices, it is the software, not the hardware, that determines customer outcomes. Founded in 2025 by Voß, Leonie Wagner and Simon Wittner, Furo's platform controls and optimizes commercial and industrial battery storage systems. It forecasts power prices and weather up to 48 hours in advance, allowing for real-time optimization of storage systems and marketing of unused capacity through energy trading.

With more than 800 companies utilizing the platform across 6,000 sites in Germany and Europe, Furo claims its software can slash electricity costs by up to 40 percent compared to traditional, pre-programmed approaches. The European and German power markets, noted Furo, are among the most volatile globally due to the rapid deployment of renewable energy sources.

This volatility translates into an estimated $580 billion in unnecessary costs annually for industrial companies worldwide. Voß, Wagner and Wittner, who first met during a joint master's program, possess a deep understanding of Europe's complex energy market. Their technical expertise and operational experience position Furo as a key player in the growing market for energy storage flexibility.