Corporate Ventures Fuel Innovation
In Austria, a growing number of big companies, including VERBUND X Ventures, are teaming up with startups. This trend, known as corporate venturing, helps traditional firms support bold new ideas. Austrian companies are now seeing these partnerships as the engine for real growth.
A 2024 white paper by tech outlet Brutkasten highlighted eight firms making strong moves in this area. It was presented at the Venture Mindset conference in Vienna. Among the leaders, VERBUND stands out for using corporate venturing to speed up climate action.
As one of Europe’s largest producers of hydropower, VERBUND already plays a big role in clean energy. But it wants to go further. That’s why it launched VERBUND X Ventures in 2022 to back climate-focused startups.
VERBUND X Ventures Commits €30 Million to Climate Solutions
The goal of VERBUND X Ventures is simple: push the clean energy transition forward — and fast. It is doing this by investing €30 million into climate tech startups across Europe. These startups must focus on one of three key areas: green energy production, energy flow and flexibility, or clean transportation.
By 2026, VERBUND X Ventures plans to fund at least 15 companies. Each investment ranges from €800,000 to €2.5 million. The focus is on startups that already have working solutions and need support to grow.
Since VERBUND operates in many European countries, its venture unit can help startups scale beyond borders. In many cases, VERBUND even becomes a customer, testing and using the technologies it helps fund.
Startups Backed by VERBUND X Ventures Are Shaping the Future
Several exciting startups have already received funding from VERBUND. Each one is working on real solutions to cut emissions and improve energy use.
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eFriends enables people and businesses to share green energy locally. After joining a VERBUND accelerator program, it raised funds from VERBUND and others.
Easelink develops automatic charging for electric cars. With VERBUND investing in late 2024, the company is preparing to launch its Matrix Charging technology.
EOLOGIX-PING provides smart tools for wind turbines. The company formed from an Austrian-Australian merger and now supplies solutions used by VERBUND’s own power plants.
Necture, formerly Ubiq, offers a software platform for managing electric vehicle fleets. After a large funding round in 2024 co-led by VERBUND, it now supports 15,000 vehicles in 15 cities.
Ogre AI uses artificial intelligence to help energy companies plan and forecast. VERBUND led a €3 million funding round to help the company grow its presence in Europe and beyond.
Reduxi builds smart home devices for energy use. In mid-2024, VERBUND invested over €1.5 million in the company, which also owns Slovenian firm Amibit.
TTTech ZYNE is a joint effort between VERBUND and TTTech. It provides real-time energy systems that link energy producers and industrial users.
SPiNE, a German startup, runs a platform for energy apps — from EV charging to solar control. VERBUND X Ventures supported it early to boost its fast expansion.
VERBUND X Ventures Also Backs Climate Funds
Besides investing in startups directly, VERBUND X Ventures has also funded a venture capital fund — Vireo Ventures. This fund supports very early-stage climate tech startups across Europe.
By backing Vireo Ventures, VERBUND not only gains access to more startups but also helps connect them to VERBUND’s core business. This gives these young companies a better shot at success, and helps VERBUND move closer to its climate goals.
Through these many investments, VERBUND X Ventures is playing a central role in shaping Europe’s clean energy future — one startup at a time.
