Empowering the Future of Energy: How exnaton is Leading Europe’s Electrification Shift
Our portfolio company exnaton is driving electrification across Europe.
As Europe accelerates toward full-scale electrification, utilities are under increasing pressure to modernize their systems, launch innovative energy products, and meet rapidly evolving customer expectations. The rise of electric vehicles, rooftop solar and decentralized flexibility is transforming the energy market from a linear value chain into a dynamic ecosystem – one that demands smarter billing, transparent data andregulatory compliance at unprecedented scale.
Regulatory requirements are amplifying this shift. The EU Electricity Market Design law (Directive EU/2024/1711) has been transposed into national law, reshaping how Member States enable flexibility, consumer participation and dynamic pricing. This policy is underpinned by the continent-wide rollout of smart meters: Spain has reached 100% coverage, the Netherlands is above 95%, France is at 93%, and Austria has already surpassed roughly 95% of its meters by late 2024. Germany is targeting 95% by 2030 and Poland is moving toward 100% by 2031.
Utilities know change is unavoidable, and most recognize the challenge of moving fast enough in this new environment of electrification, flexibility and data-driven regulation.
This is where exnaton comes in.
A Real-World Challenge: Utilities Need Flexibility, not full IT Overhauls
Most utilities operate on legacy ERP systems built for a world of stable, predictable electricity flows. But dynamic tariffs, prosumer models, energy communities and smart electric vehicle charging require a more innovative approach to analyzing data coming from PoDs (Point of Delivery). The in-house development of capabilities, such as automated billing and seamless customer interfaces, is slow, expensive and often impractical.
Customers, meanwhile, increasingly expect transparency and personalization. Regulators demand accuracy and flexibility. Markets reward innovation.
exnaton bridges this gap with a modern intelligence layer that transforms existing infrastructure – without forcing utilities to rebuild it.
About exnaton: An Intelligence Platform Built for the New Energy System
Founded in Zurich in 2020, exnaton develops an AI-powered SaaS platform that helps utilities deploy next-generation energy products rapidly and at scale. Rather than replacing existing IT architecture, exnaton adds a modular, flexible intelligence layer that handles billingworkflows, dynamic pricing and data analysis.
Today, more than 50 utilities across Europe rely on exnaton’s technology – including examples such as TotalEnergies in Belgium, the E.ON brands eprimo, Bayernwerk in Germany, enersuisse in Switzerland, and Burgenland Energie in Austria – collectively demonstrating how exnaton enables both large multinational suppliers and regional champions to drive the digital transformation of the energy sector.
With research backgrounds from ETH Zürich, Stanford University, and University of St. Gallen, the team combines academic depth with practical industry expertise. Their mission is simple: empower utilities to deliver sustainable, data-driven energy products that make the energy transition tangible for every household.
Deep Dive: How the Platform Works – and why it matters
exnaton’s intelligence platform focuses onthree key areas that address the most pressing needs of today’s utilities:
AI-Enhanced Billing
Utilities can automate complex billing processes using granular, 15-minute energy data from smart meters. AI-powered processing ensures accuracy, reduces operational costs and minimizes manual reconciliation work – critical for dynamic tariffs and flexible grid fees.
Modular & Scalable Architecture
The platform integrates directly with existing ERP systems, enabling faster time-to-market for new, time-series-based energy products. Its modularity supports a wide range of use cases, from energy communities and peer-to-peer sharing to intelligent electric vehicle charging and prosumer billing.
White-Label Customer Experience
exnaton provides a customizable user interface that allows consumers to easily monitor their energy consumption, production and – where integrated – smart device activity. This transparency empowers customers to make data-driven decisions – and increases their engagement with sustainable products.
For utilities, this combination improves efficiency, unlocks new business models, and strengthens customer loyalty. For consumers, it makes the energy transition intuitive, accessible, and actionable.
Why Energy Tech: The “Beyond Banking” Trend
For Elevator Ventures, this is a crucial investment that aligns perfectly with our focus on “Beyond Banking” solutions in relevant areas like energy transition. The energy market represents a huge opportunity, particularly given Raiffeisen’s existing activities in the Austrian energy sector like Auri by Raiffeisenlandesbank Niederösterreich-Wien, Enlion and Raiffeisen Regenerative as well as the strong network of clients and partners in energy utilities across Austria and Central and Eastern Europe. As we see it, exnaton can play a leading role in the integration of finance into the future of energy.
Looking Ahead: Scaling Europe’s Decarbonized Grid
With its newly raised Series A financing, exnaton is poised to accelerate its European expansion and further develop AI-driven capabilities for real-time billing and decentralized and data-driven flexibility management.
Join us in Powering the Future
At Elevator Ventures, we believe in elevating the growth of founders who are building the infrastructure for tomorrow. By supporting exnaton, we are backing a team that is redefining how utilities innovate – and is ultimately accelerating the transition to a cleaner, smarterand more flexible energy system.
Learn more about exnaton: https://www.exnaton.ai/
