Creating a new energy marketplace

Sector: Energy, IoT
Accelerator status: Incubation
Founded: 2010

Employees: 15-50
Location: London, UK

company description

Vlux is on a mission to bring energy bills down to 0.
By combining deep learning AI with blockchain, Vlux wants to improve access to affordable, green energy through the Verv trading platform and empower consumers to safely and securely monetize their household energy data in order to offset electricity costs.

recent achievements

Became a part of the Google Accelerator Program and Amazon Launchpad

Won Technology Innovation of the Year at the 2018 National Energy Awards

Conducted the first blockchain-based peer-to-peer energy trade in the UK

Received seed funding from the social impact arm Centrica (the parent company of British Gas)

Has been accepted into the free electrons global energy accelerator programme as one of the top 15 energy start ups in the world

Have raised €1.1 million from over 1000 investors in 2018 on crowdfunding platform Crowdcube

Won the Munich Network’s 2018 Digital Innovation of the Year Award

Won €150,000 for the ‘Most Disruptive Startup’ at Vodafone’s Arch Summit

£500,000 investment from Innogy International Middle East

Product/service description

The AI-based smart hub, Verv, which can obtain a comprehensive and real-time overview of the electricity consumption of a home, forms the basis of our platform. By combining this with blockchain technology, our aim is to provide a secure and transparent ledger through which energy can be traded on a p2p basis and electrical data can be exchanged in a new-form marketplace which empowers the consumer.

latest financing round

£6.5 M
Series A in 2019

Management team