Elvy AB

Based in Stockholm, Sweden, founded in 2023, Elvy AB provides comprehensive energy solutions for residential clients. The company was co-founded by David Wedar and Johan Outinen (CEO as of 2026). In October 2026, Elvy AB raised SEK 16 million in series A funding. The round was a part of a larger SEK 86 million Series A funding.

Elvy specializes in delivering comprehensive energy solutions that primarily focus on solar energy systems, heat pumps, and battery storage. The company's core offering includes a subscription-based energy model, which allows customers to significantly reduce their energy costs by 10-20% while providing a fixed pricing structure for heating, hot water, and household electricity over a 15-year period. Elvy’s services include a free installation of solar panels, heat pumps, and battery systems, enabling homes to achieve a self-sufficiency of 60-80% in energy consumption. This approach caters to residential clients, particularly homeowners seeking sustainable energy solutions while alleviating the complexities often associated with energy investments and maintenance.

Elvy serves markets in Sweden and potentially other regions within Scandinavia, allowing customers to enjoy consistent heating at 22 degrees Celsius throughout varying seasonal conditions. Elvy operates on a subscription revenue model, where customers pay a fixed monthly fee for their energy services, which encompass installation, maintenance, and operational support for the installed systems. The pricing structure is tailored based on an initial energy analysis, which assesses each household's unique energy needs and previous consumption patterns. By bundling services into an all-inclusive energy subscription, Elvy simplifies the financial commitment for homeowners.

This arrangement enhances customer satisfaction through predictable billing and fosters long-term relationships, as clients can opt to buy out the installed systems for a nominal fee at the end of the contract period. The company's business transactions primarily involve direct interactions with consumers, ensuring a streamlined approach to energy consumption management. The company plans to use the October 2026 funding to support ongoing operations and accelerate the expansion of the company's home-energy subscription services.