How MyGrid raised €600,000 to accelerate the energy transition

The road to growth is full of challenges, especially when launching an innovative product in a competitive market. MyGrid, the Flemish start-up behind the ModuleOne smart home battery, faced similar hurdles. To achieve their mission of making renewable energy accessible to everyone, founders Jan Wellens and Stef Van de Gehuchte needed not only capital but also the right investors. With the help of The Harbour, they devised a smart and strategic funding process that resulted in €600,000 and valuable expertise. This is how MyGrid prepared to fulfill their sustainable mission.

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The challenge‍

Jan Wellens and Stef Van de Gehuchte, founders of MyGrid, had a mission: to make the energy transition accessible to everyone with their innovative ModuleOne, a plug-and-play home battery. But their plans required a substantial financial investment. Developing and bringing their product to market would need €600,000—not only in capital but also from investors with expertise in energy and technology.

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Our approach

At The Harbour, we worked with MyGrid to make their funding round a success. We did this in three key steps:

1. Refining the Plans: We optimized MyGrid's financial and strategic plans to make them more convincing and insightful to potential investors.
2. Putting Together a Smart Financing Mix: Together, we created a combination of a bank loan, an investment from PMV, and contributions from two business angels. These angels not only brought capital but also strategic insights and a valuable network.
3. Pitch-to-Deal Guidance: From practicing pitches to finalizing negotiations, we assisted Jan and Stef to ensure they were well-prepared to secure the best conditions.

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The result

MyGrid successfully raised €600,000—a mix of capital and strategic guidance. This funding enables them to:

• Further develop and certify their ModuleOne.
• Scale up production and serve their first customers.
• Launch their innovative cloud platform and make a strong market entry.

Thanks to the involvement of business angels, MyGrid now has both the financial resources and expertise needed to make informed strategic decisions.

With this strong foundation, MyGrid is ready to achieve their mission: making energy solutions accessible to everyone.