Furo raises €3.44 million for industrial
Munich's Furo has secured €3.44 million in funding led by TQ Ventures. The energy software startup aims to make industrial battery storage economically viable by using AI to forecast prices and optimise energy use, claiming it can cut customer electricity costs by up to 40%.
Munich-based energy software company Furo has closed a €3.44 million funding round. The investment was led by US firm TQ Ventures, with participation from Sandberg Bernthal Venture Partners, Neo, and CDTM Venture Capital.
Founded in 2025 as Lumera Energy by Lena Sophia Voß, Leonie Wagner, and Simon Wittner, Furo develops software to control commercial and industrial battery storage. The company argues that in volatile power markets, economic viability is dictated by software, not hardware. "Our customers did not buy a battery to own a technology, but to lower their electricity bill," said co-founder Lena Sophia Voß.
The Software Solution
Furo's platform forecasts electricity prices and weather up to 48 hours in advance. It then optimises battery storage operation in real time and markets unused capacity in energy trading. The company claims this approach is a departure from rigid, pre-programmed systems that ignore actual market and weather conditions.
According to Furo, this method enables customers to reduce electricity costs by up to 40 percent. The software is not sold directly to end users but through installers, project developers, storage manufacturers, and utilities. Over 800 companies currently use the platform across more than 6,000 sites in Germany and Europe.
Addressing Market Volatility
The startup identifies European and German power markets as among the world's most volatile, a result of the rapid expansion of wind and solar energy. Furo states its forecasting module is designed to price in these fluctuations, which static systems have previously failed to address.
The company links rising global energy demand from AI data centres to increased pressure on energy-intensive industries, particularly in high-cost Germany. It positions battery storage, managed by intelligent software, as the critical solution for storing surplus renewable power and releasing it when needed.
Investor Confidence and Traction
Schuster Tanger, co-founding partner at lead investor TQ Ventures, praised the founding team's deep market understanding. "Lena, Leonie and Simon understand the European energy market at an extraordinary level of depth. It's a remarkable example of team-market fit," Tanger said. The investor cited the number of projects and data Furo has accumulated as evidence of early traction, coupled with a global storage flexibility market poised for significant growth.
The new capital will be used to further develop Furo's software, expand into additional European markets, and grow its team. Earlier this month, Furo announced a partnership with Berlin-based LUOX Energy to launch a combined solution for optimising commercial and industrial battery storage systems. The company rebranded from Lumera Energy in May 2026.
