Industrielle Werke Basel acquires Sympheny stake

28.02.2022

Basel-based utility company Industrielle Werke Basel (IWB) has announced its investment in the cleantech startup: IWB is taking over 30 percent of the Sympheny shares. The fresh capital will be used in particular to develop the energy planning software further. Sympheny won Venture Kick in 2019.

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Sympheny is an EMPA spin-off that was founded in 2020 by Andrew Bollinger, Matthias Sulzer, Boran Morvaj, and Julien Marquant. The team combines the knowledge of data science, simulation, and energy planning to efficiently and effectively plan the energy use of individual buildings or entire developments. To identify and evaluate the various energy solutions, the Dübendorf-based startup Sympheny has developed energy planning software. Using algorithms, a digital twin of the energy system and GIS data, the software can simulate the local production, storage, and energy consumption. Sympheny’s software has already been used in over 20 major planning projects. Customers include energy suppliers and general contractors from all over Switzerland.

Sympheny’s CEO Andrew Bollinger commented: “Planners need the right tools to put the energy transition into practice. We enable digitalized, collaborative energy planning fit to the needs of today’s planners and tomorrow’s energy systems. Eventually, every planner is going to need tools like this, and we need to be ready for it. That is what this investment enables.”


From left to right: Julien Marquant (Sympheny), Dirk Mulzer (IWB), Matthias Sulzer (EMPA/Sympheny), Arthur Janssen (IWB), and L. Andrew Bollinger (Sympheny)

Andrew, you won Venture Kick stage 2 in 2019. How did it help you lay the foundation for your growth and today's achievement?
The funding from Venture Kick stage 2 allowed us to hire our first employees in early 2020 and accelerate our path towards commercialization, enabling us to get our first commercial release on the market in November 2020.  Next to this, the Venture Kick camps helped us to refine our business model and establish a successful go-to-market strategy.

When, and what, was your inspiration to found Sympheny?
Our team was working on the technologies underlying Sympheny's software at Empa already since 2015. Beginning in 2017, we had the first version of our software and started doing some pilot projects with industry partners. We saw in these projects that we had a unique product capable of delivering tremendous value to planners, and that there was a clear willingness to pay. After several of these projects, we realized there was a promising business opportunity here, and a global market with an unmet need. The seed for Sympheny was planted. From there, our team found great support at Empa and subsequently from Venture Kick, Rockstart, and IWB to grow this seed into a company.
 
What is your advice for the potential cleantech entrepreneurs launching companies in Switzerland today? 
Most of our founding team is coming from a technical background, but we learned early on that technology is only a small piece of the puzzle: translating a unique and clever technical solution into a successful business is entirely another game. We have found it indispensible to have mentors to help us navigate this process, to develop a strategy built on the actual requirements of our customers and the needs of the market, rather than (only) on the capabilities of the technology. Luckily Switzerland has a great startup ecosystem, and there are many opportunities to get support on these aspects - I highly recommend entrepreneurs to use them.

Source: LinkedIn post, translation of startup.ch article (Cover photo from startup.ch article), interview by Venture Kick, Sympheny team and products pictures

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