Belgian clean energy startup Octave.energy has raised €10M in Series A funding to scale its battery storage business across Europe. SPDG Growth, the Périer-D’Ieteren family office that has funded the startup since seed, led the round, which mixes equity with flexible debt. The investor group also pulled in imec.istart, BNP Paribas Fortis and KBC.
Founded in Mechelen in 2020, the startup’s product is smart battery energy storage, sold to industrial clients, smaller firms and agriculture. Octave started by developing its own circular battery storage system with integrated control and monitoring, and today focuses on first-life LFP battery systems sold with a fully integrated energy management platform.
The pitch is that electrification across Europe is outpacing grid capacity, leaving businesses with congestion, volatile prices and slow connections. Octave argues the battery alone is only half the answer, so it pairs storage hardware with its own energy management software that lets customers monetize flexibility on energy markets with the optimizer of their choice.
The company says it is already profitable and will use the funding to expand across Europe. The round adds to a busy stretch for European battery storage startups as grid constraints turn energy flexibility into a sellable product.
