Elvy raises €500 million to scale AI-driven home decarbonisation

Households still struggle with volatile energy prices and fragmented options when considering solar panels, heat pumps, and batteries, with high upfront costs and multi-vendor coordination slowing the shift to cleaner home energy.

Founded in 2023 in Stockholm by Johan Outinen, Fabian Linzberger, and David Wedar, Elvy turns decarbonisation into a service through a home-energy subscription that optimises consumption and lowers residential emissions over time. Its AI-based assessment uses microclimate data, building characteristics, and usage patterns to configure a tailored hardware stack that reduces grid reliance while keeping monthly costs predictable.

Recently, Elvy secured 500 million euro in fundings led by Scayl with a banking partner, enabling the rollout of additional systems in Sweden and laying the groundwork for European expansion.

Sources: Elvy | Crunchbase

Founders: Johan Outinen, Fabian Linzberger, David Wedar