Furo, a software company that controls and optimizes commercial and industrial battery storage systems, has raised $4 million to expand its AI-driven platform.

TQ Ventures led the funding round, with participation from Neo, Sandberg Bernthal Venture Partners, and CDTM Venture Capital.

The company’s platform forecasts electricity prices and weather up to 48 hours in advance, uses this to optimize storage operations in real time, and markets unused capacity in energy trading. Furo sells through installers, project developers, storage manufacturers, and energy suppliers. Companies are said to use its software at over 6,000 sites across Germany and Europe.

The company is also preparing to enter the U.S. market. Furo said fluctuations in Germany’s electricity prices, driven in part by renewable energy generation, have provided a market for developing and deploying its battery optimization software.

“Lena, Leonie and Simon understand the European energy market at an extraordinary level of depth. It’s a remarkable example of team-market fit. Together, they bring exceptional technical depth and operational experience in Europe’s most complex power market. That’s already reflected in the number of projects and the data they’ve built up. Coupled with a global market for storage flexibility set to multiply in the coming years, we see this as one of the greatest opportunities in Europe and beyond,” said Schuster Tanger, co-founding partner at TQ Ventures.

In February, Powerline, a startup providing software-based intelligence solutions for batteries, secured $7 million in seed funding, led by MaC Venture Capital, with participation from LG Technology Ventures, J-Impact Fund, and other strategic investors across the energy ecosystem.

According to Mercom’s recently released 1H 2026 Funding and M&A for Energy Storage report, VC funding for energy storage companies in 1H 2026 totaled $1.6 billion across 51 deals, representing a 6% YoY decline compared to the $1.7 billion raised across 36 deals in 1H 2025.