Failed 2024

    Kiwigrid

    Dresden energy-IoT startup Kiwigrid filed insolvency in 2024 after corporate strategic investors LG and E.ON pulled support — a classic German corporate-VC dependency failure.

    Founded → Closed

    2011 → 2024

    Funding Raised

    $80M

    Industry

    Cleantech/Energy IoT

    Country

    Germany

    Full Analysis

    Dresden-based Kiwigrid built energy-management software for smart homes and EV charging. After raising over €70M from corporate strategics LG Electronics, E.ON/innogy, and AQTON SE, the company filed for insolvency in 2024 when corporate strategic investors declined to provide further bridge financing. A textbook example of the risks of relying primarily on corporate-strategic investors in German Mittelstand startups.

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