Corporate venturing, the collaboration between established corporations and startups through investments and partnerships, is the engine for innovation and growth in the Austrian business landscape, a white paper argues. In a country with strong traditional industries, collaboration between established players and newcomers is increasingly seen as essential.
Elaborated by Austrian tech media outlet Brutkasten in 2024 and presented on stage this week in Vienna by its CEO, Dejan Jovicevic, during the Venture Mindset conference, a new event organized by the Alpha Omega Foundation, the white paper highlights eight Austrian companies that have distinguished themselves in that regard, offering lessons for others.
Among these, Austria’s leading energy company VERBUND stands out for its stated commitment to climate action, not just financial returns — and with a sense of urgency that is not usually associated with corporate venture capital (CVC).
“Innovation for the energy transition is a big issue. We cannot wait ten or twenty years, but must bring innovations to the street quickly,” VERBUND X Ventures managing director Franz Zöchbauer told Brutkasten.
VERBUND is already a major producer of renewable energy, and ranks among Europe’s largest hydropower producers. But it also knows there is more to be done. “Thirty-nine percent of the global emissions have to be reduced by technologies which are not on the market yet,” Zöchbauer said on the Venture Mindset conference stage.
This need for innovation is what led VERBUND to venture into corporate innovation five years ago; first, with the VERBUND X Accelerator, and now also with a venture capital arm and a venture builder through VERBUND X Ventures, its corporate venture unit founded in 2022.
As a CVC unit, VERBUND X Ventures’ mandate is to back climate tech startups, with three focus areas: sustainable energy production, of course, but also energy flow & flexibility, as well as green mobility.
With a fund volume of €30 million, VERBUND X Ventures is to have made 15 direct investments by 2026, with first checks of up to €2.5 million into late seed and Series A rounds, and a pan-European scope.
“VERBUND operates in multiple European countries, which is why we are on the lookout for startups throughout Europe that can genuinely drive the energy transition,” VERBUND X Ventures’ other managing director Andreas Bräuer stated in a booklet highlighting the company’s innovation portfolio.
Here’s a closer look at the teams it has backed so far:
eFriends
Founded in 2015, Austrian startup eFriends facilitates real-time exchange of renewable energy, both from households and from small industries, with the goal of maximizing local consumption and promoting decentralized, sustainable energy use.
After a cooperation between VERBUND and eFriends initiated in the VERBUND X Accelerator and graduating from the Rockstart accelerator program in 2023, the startup secured a round of funding led by Wienerberger and VERBUND X Ventures, with the latter investing €800,000.
Easelink
Easelink is a Graz-based startup developing automated charging solutions for electric vehicles which raised an €8.3 million Series A led by SET Ventures in 2022.
VERBUND X Ventures then invested €1.5 million into the company in October 2024.
In February 2025, Easelink secured €11.5 million in funding from the European Innovation Council (EIC), and said it was seeking additional VC funding for the market launch of its Matrix Charging technology.
EOLOGIX-PING
EOLOGIX-PING is an Austrian startup specializing in smart monitoring solutions for wind turbine blades.
The company was formed in 2023 through the merger of surface sensor startup eologix with Ping Services, an Australian expert in acoustic monitoring.
In January 2024, EOLOGIX-PING secured a round of funding led by Emerald Technology Ventures.
Existing backers Nabtesco Technology Ventures and Phoenix Contact Innovation Ventures also participated, as well as new investors Beraunberri, Helen Ventures and VERBUND X Ventures, which committed €1.5 million to the startup and indicated that VERBUND Green Power was already using its solutions.
Necture
Necture, formerly known as Ubiq, was founded in 2015.
It is a Vienna-based startup whose predictive SaaS platform helps businesses optimize their vehicle fleets — with the additional goal of accelerating the adoption of EV fleets.
After a €4.5 million Series A in 2023 and a €2.5 million extension co-led by VERBUND X Ventures in 2024, it rebranded to Necture, and currently boasts 15,000 vehicles under management in 15 cities across Europe and the Americas.
Ogre AI
With offices in Bucharest and London, Ogre AI is a tech company leveraging AI and ML to provide analytics and forecasting solutions to energy and utility companies, with major names among its clients.
In September 2024, it raised a €3 million funding round led by VERBUND X Ventures to strengthen its offering and market presence.
The company has been making the rounds on the energy conference circuit, attending and presenting at industry events in the EU, Africa, Canada and more.
Reduxi
Headquartered in Vienna, Reduxi provides an AI-enabled electricity management system for households and small businesses.
Its flagship hardware, the Reduxi Controller, connects solar power plants, energy storage systems, heat pumps and electric chargers to maximize cost-effective energy use and self-sufficiency.
In July 2024, VERBUND X Ventures participated in a €3.12 million round raised by Reduxi, putting €1.56 million into acquiring approximately 11% of the startup, which also controls Slovenian company Amibit and was part of Verbund X Accelerator’s fifth batch.
TTTech ZYNE
TTTech ZYNE is a joint venture between VERBUND and TTTech, a Viennese company specialized in industrial automation and systems for safety-critical applications.
The initiative will aim to offer a reliable and secure real-time energy management solution that acts as a bridge between industry, energy suppliers, and municipal utilities.
“TTTech ZYNE is a strategic investment in the future of energy supply,” Zöchbauer stated.
SPiNE
SPiNE is a German energy tech startup specialized in decentralized energy management.
In September 2024, only a few months after its inception, it raised €1.5 million from several investors including VERBUND X Ventures, with plans to expand internationally.
SPiNE offers a robust app store for energy management applications including everything from electric vehicle charging to solar energy management.
Vireo Ventures
Unlike the others on this list, Vireo Ventures is not a company, but a venture capital fund investing in early stage energy tech startups across Europe.
By backing it, VERBUND X Ventures is indirectly backing its portfolio companies, but also offering them an opportunity to collaborate with its parent company.
“This investment underlines our efforts to contribute to reaching the climate targets,” CEO VERBUND Michael Strugl declared. This also aligns with VERBUND X Ventures’ overarching goal of “boost[ing] the transition to sustainable energy by joining forces by pioneering companies.”
The question now is which of VERBUND X Ventures’ current and future bets will scale, and how quickly, as the climate clock is still ticking.
Disclosure: The author was invited to moderate a panel at the Venture Mindset conference, with travel and accommodation costs covered by the organizers. Neither the Alpha Omega Foundation nor VERBUND had any influence over the content of this article.
Featured Image: VERBUND X batch six demo day. Image credit: VERBUND X via LinkedIn.
