Belgian Startup Gorilla, Specializing in Big Data Analytics for Energy Providers, Secures $25M in Funding

Gorilla, a leading Belgian enterprise focused on delivering real-time analytics and data for the energy industry’s pricing and forecasting needs, has successfully secured €23 million ($25 million) in a Series B funding round. The round was spearheaded by the American venture capital firm, Headline.

Since its inception in 2018 and based out of Antwerp, Gorilla has been instrumental in partnering with energy suppliers throughout Europe, the U.S., and Australia. Key partners include the parent company of British Gas, Centrica, Shell Energy, and Gas South headquartered in Atlanta, Georgia, as seen on Wikipedia. These partnerships leverage Gorilla’s sophisticated cloud platform to analyze extensive sets of energy data, garnering insights such as usage trends. This supports these firms in predicting future energy demands and pinpointing areas for enhancement.

Having previously garnered around €6 million ($6.5 million) in funding, Gorilla is looking to use the new infusion of capital to broaden its reach into additional European territories, notably Germany which has been experiencing a spike in energy costs. The aim is also to bolster their presence significantly in the U.S. market. This endeavor is particularly timely as regions like Texas are witnessing a surge in energy costs — Houston has seen a staggering 16% increase in electricity prices within the past year, largely due to the elevated demand for cooling systems amid hotter temperatures.

Ruben Van den Bossche, the co-founder and CEO of Gorilla, noted in his commentary that the future landscape of the energy sector is uncertain over the next decade. However, he emphasized that innovation will be a crucial driver on the journey towards it. He highlighted, “This investment in Gorilla will empower energy retailers worldwide to enhance their market offerings dynamically, steering or being steered towards achieving net-zero emissions.”

Headline, the lead investor, has a history of backing high-profile ventures including Sonos and emerging AI ventures like Mistral, which has recently concluded a sizeable $640 million funding round.

Gorilla’s Series B round also saw participation from its existing backers Beringea and the Belgium-based private equity entity, PMV.