About Evyon
Evyon is an Energy & Utilities company based in Oslo (Norway) founded in 2020 by Radu Achihai and Jorgen Sorgard Erdal. It operates as an energy storage systems are provided using repurposed EV batteries. Evyon has raised $9.19 million across 6 funding rounds from investors including Innovasjon Norge, Sandwater and Antler. The company has 4 employees. Its chief executive is Jorgen Sorgard Erdal. Evyon offers products and services including Modular DC Battery Storage and Industrial Battery Solution. Its focus areas include Energy Tech, Energy Storage Tech, Energy Storage System and Lithium Ion. Its legal entity is EVYON AS. Its competitors include Voltfang, betteries, Electrefy, Audacious Energy and Relyion and 2 more; 2 of its 7 listed competitors have raised funding.
Company details
Evyon was founded in 2020 and is based in Oslo, Norway. Operations focus on the energy storage sector, where battery energy storage systems are offered through the use of repurposed electric vehicle batteries. Technologies for reassembly and management are developed to transform second-life EV batteries into modular, plug-and-play storage units. Services target sustainable energy solutions across Europe.
- Annual Revenue$92.73 K (USD)-67as on Dec 31, 2022
- Net Profit-$2.18 M (USD)-501as on Dec 31, 2022
- EBITDA-$2.27 M (USD)-521as on Dec 31, 2022
- Total Equity Funding$9.19M (USD)
in 6 rounds
- Latest Funding Round$6.94M (USD), Seed
Nov 2022
- InvestorsInnovasjon Norge
& 7 more
- Employee Count4
Products & Services of Evyon
Evyon offers a comprehensive portfolio of products and services, including Modular DC Battery Storage and Industrial Battery Solution.
Repurposes EV batteries into scalable, safe systems for integrators.
Provides automotive-quality storage for fully renewable energy applications.
Funding Insights of Evyon
Evyon has successfully raised a total of $9.19M across 6 strategic funding rounds. The most recent funding activity was a Seed round of $6.94 million completed in November 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $9.19M
- Total Rounds 6
- Last Round Seed — $6.94M
- First Round $110,000
(Jan 2020)
- Investors Count 8
All 6 funding rounds of Evyon with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov 2022 | $991,662 | Debt – Conventional | – | – | |
| Nov 2022 | $6.94M | Seed | – | Sandwater | |
| May 2022 | $1.16M | Grant | – | – | |
| Mar 2022 | $2.13M | Seed | – | – | |
| Jun 2021 | – | Seed | – | – | |
| Jan 2020 | $110,000 | Seed | – | – |
8 investors in total: 8 institutional.
Investors in Evyon
Evyon has secured backing from 8 investors, including venture fund and institutional investors. Prominent investors backing the company include Innovasjon Norge, Sandwater and Antler.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Sandwater is engaged in backing early-stage innovative companies. | – | sandwater.com | Oslo, Norway | |
Early-stage investing and founder support services are offered globally by Antler. | 2018 | antler.co | - | |
Wiski Capital is focused on investing in Norwegian tech startups. | 2017 | wiski.no | Norway | |
- | – | aars.no | - | |
Link Capital is focused on investing in energy transition companies. | – | linkvc.no | - | |
- | – | startuplab.no | - | |
Supplies clean energy from hydro, solar, and wind sources in Norway. | 1912 | skagerakenergi.no | Porsgrunn, Norway | |
Consulting services in agriculture, travel, and international investments are offered. | 2004 | innovasjonnorge.no | Oslo, Norway |
Investor details for Evyon
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People of Evyon
9 people are tracked at Evyon (5 in leadership, 4 in team); the tracked headcount is 4.
| Name | Role | Group |
|---|---|---|
Radu Achihai | Co-Founder & COO | Leadership |
Jorgen Sorgard Erdal | Co-Founder & CEO | Leadership |
Jørgen Sørgård Erdal | Co-founder & CEO | Leadership |
Leif Andreassen | CFO And COO | Leadership |
Ralph Groen | Chief Commercial Officer (CCO) | Leadership |
Tomas Lindström | Business Development Manager | Team |
Jorge Rodríguez Gómez | Financial Controller | Team |
Mats Horsdal | Data Scientist | Team |
Herman Hille | Operations Manager | Team |
Complete people profiles for Evyon
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Timeline of Evyon
3 dated milestones of Evyon across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Evyon is founded.
- Funding First funding round of $110K.
- Funding Latest funding round, Seed, of $6.9M.
Competitors of Evyon
Evyon has 7 listed competitors in our database, 2 of them funded. They include Voltfang, betteries, Electrefy, Audacious Energy and Relyion, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| voltfang.de | 2020 | Aachen, Germany | $31.82M | – | Provider of energy storage solutions for electric vehicles | |
| betteries.com | 2003 | Berlin, Germany | $2.48M | – | AI and IoT-enabled platform offering portable electric-vehicle charging solutions | |
| electrefy.com | 2016 | Toronto, Canada | – | – | Used EV battery recycling and reusing solution provider | |
| audacious.energy | 2019 | Calgary, Canada | – | 2 | Provider of solutions for energy storage | |
| relyionenergy.com | 2021 | Santa Clara, United States | – | – | Develops AI software to optimize battery performance and reduce energy costs efficiently. | |
| sl-batteries.com | 2022 | Wuppertal, Germany | – | – | Repurposes used lithium-ion batteries for sustainable energy storage applications. | |
| 4r-energy.com | 2010 | Yokohama, Japan | – | – | Delivers comprehensive solutions using used electric vehicle batteries for efficient energy storage. |
Detailed competitors of Evyon
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Top companies in Energy Storage Systems
10 companies that operate in the same segment as Evyon (Energy Storage Systems), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Electric buses and charging systems are manufactured for fleets. | 2004 | Burlingame, California, United States | USD 857.79 M | USD 309.36 M | 418 | |
Silicon-based solar PV modules are manufactured for diverse applications. | 1985 | San Jose, California, United States | USD 171.73 M | USD 300 M | 600 | |
EV charging station network is operated for vehicle users. | 2017 | Munchen, Bayern, Germany | USD 791 M | – | – | |
Platform offering smart electric vehicle charging solutions | 2018 | London, England, United Kingdom | USD 63.18 M | – | – | |
Iron-air energy storage systems are developed for renewable energy projects. | 2009 | Somerville, Massachusetts, United States | USD 2 B | – | 902 | |
Provider of electric vehicle charging solutions | 2009 | London, England, United Kingdom | USD 58.39 M | – | – | |
Monta is recognized as a provider of EV charging software solutions. | 2020 | Copenhagen, Denmark | USD 134.51 M | – | – | |
Provider of EV battery-swapping network | 2019 | Gurugram, Haryana, India | USD 187.76 M | USD 22.56 M | 482 | |
Portable electric vehicle charging solutions are developed and provided. | 2014 | Boston, Massachusetts, United States | USD 104.86 M | – | 50 | |
Provider of solar integrated power storage system | 2010 | Wildpoldsried, Bavaria, Germany | USD 168.42 M | USD 132.91 M | – |
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Frequently Asked Questions about Evyon
Evyon was founded in 2020.
Evyon is headquartered in Oslo, Norway. It is registered at Oslo, Oslo, Norway.
Jorgen Sorgard Erdal is the current CEO of Evyon. They have also founded this company.
Evyon is a funded company, having raised a total of $9.19M across 6 funding rounds to date. The company's 1st funding round was a Seed of $110K, raised on Jan 2020.
Evyon has 4 employees.
Annual revenue of Evyon is $92.73K as on Dec 31, 2022.
Evyon was founded in 2020 and is based in Oslo, Norway. Operations focus on the energy storage sector, where battery energy storage systems are offered through the use of repurposed electric vehicle batteries. Technologies for reassembly and management are developed to transform second-life EV batteries into modular, plug-and-play storage units. Services target sustainable energy solutions across Europe.
Evyon offers Modular DC Battery Storage and Industrial Battery Solution.
Evyon has 8 investors. Key investors include Innovasjon Norge, Sandwater, Antler, Wiski Capital, and Skagerak Energi.
Evyon operates through Evyon As.