Paris-based IJENKO provides a number of eco-friendly, smart energy solutions for the home – including its personal smart grid. The company founded in 2008 raised €2 million in January 2010 from Direct Energie, ISource and Bouygues Telecom Initiatives and has just scored another €3.5 million from the same investors.
Often compared to US-based OPower (who recently closed a $50 million round), IJENKO counts a number of smaller competitors in France – like Watteco. However, IJENKO’s solution works with Zigbee-based connected objects, which are all linked-up to the central Box. And rather than selling the various appliances for a flat-fee, IJENKO offers various packages where users pay a simple monthly fee of either €9.90 or €14.90.
This investment follows a somewhat similar investment that France-based Alven Capital made earlier this year in QuelleEnergie. While both companies have very different approaches, they are both aiming at helping consumers reduce energy consumption at home.