The Founder Series is a new interview series designed to spotlight the inspiring journeys, insights, and innovations of founders within the Luminar Ventures portfolio who are shaping industries and driving change. We’re happy to kick things off with an interview with Tanmoy Bari, CEO & Co-founder of Greenely.
Welcome, Tanmoy! Let’s start with your personal journey. What sparked your interest in energy efficiency and sustainability?
I realized early on that the energy grid was underutilized, and there was a huge opportunity to improve how consumers interact with energy. My main drive has always been to make a meaningful difference and create something that genuinely improves the future for consumers.
What experiences shaped you as an entrepreneur before founding Greenely?
I was a student not long before starting Greenely. During my studies, I worked in Western Kenya on optimizing fish factories and collaborated on efficiency projects with Professor Nils Viking. I also spent time in Brazil working on urban planning ahead of the Olympics, which gave me insights into building more socially sustainable cities. These experiences shaped my interest in using technology to improve how we live.
How did you make the transition from your studies at KTH to founding Greenely?
It was a gradual shift. We started by exploring the industry, and as we began working with management teams, we gained a clearer strategic view. Moving from research to signing agreements with energy companies gave us invaluable insights and helped us understand how to make a real impact.
Can you elaborate on your vision of connecting electricity consumers into a virtual power plant?
Our vision is to enable households not just to pay for energy, but to get paid for contributing energy back to the grid. We want electricity to become a reward, not just a cost. This requires major investments in technology and the creation of a virtual power plant that aggregates households to help stabilize the grid.
What are the core components of Greenely’s offering?
First, we give consumers insights and data—a “Fitbit” for your home’s energy. Second, we offer automated savings, like charging electric vehicles when prices are lowest. Third, we enable households to participate in the virtual power plant and earn money by supporting grid stability.
How do you approach innovation at Greenely?
Innovation is part of our culture. We focus on always improving, solving problems that haven’t been addressed before, and thinking about what’s missing. It’s a mindset that runs throughout the company.
How did your partnership with Luminar Ventures begin?
I met Jacob Key from Luminar when we were still students and Greenely wasn’t even a proper company yet. Having that early relationship was valuable. When Luminar established their fund, they already knew us, which made the investment process smoother. Trust and transparency have been crucial in our relationship.
What’s most important in the relationship between a startup and its investors?
Transparency is key. Founders need to take on feedback and prioritize what matters most. Communication and delivering results are crucial, as investors are looking for a return on their capital.
What have been the biggest technical challenges in developing your technology?
We’ve faced both financial and technical challenges, especially during periods of extreme electricity price volatility. Building a platform that can handle sudden surges in users and integrating a wide variety of home energy devices has been complex. Compatibility and creating a smart layer that manages everything from EVs to batteries is a big part of what we do.
How do you integrate all these home energy systems into one platform?
It’s a huge challenge because the landscape changes quickly. Our approach is to be as compatible as possible and act as an operating system for the home. Creating a smart layer that manages devices like batteries and EV chargers is key, but it’s an ongoing process as new technologies emerge.
What are your expansion plans beyond the Nordics?
We’re rolling out in the broader Nordics, starting with Finland, and plan to expand to other European markets. We’re developing a European model that can adapt to local regulations and market conditions.
How do you see market development in places like Norway and Denmark?
Norway and Denmark have advanced quickly with smart meters, dynamic pricing, and standardized tariffs. These trends are coming to Sweden as well. The markets are similar, though there are differences in how aggregated resources can be used to stabilize the grid.
Looking ahead to 2030, how do you think consumer behavior will change?
Consumers’ relationship with electricity will change dramatically. Electric vehicles, heat pumps, solar panels, and batteries will become standard in many markets. People will become more self-sufficient and engaged with their energy use, and we hope to play a key role in that transformation.
What role can Greenely play in addressing energy crises and grid stability?
We can help stabilize the grid by aggregating smaller resources and responding quickly to fluctuations. As renewables replace coal and nuclear, grid stability becomes more challenging, and our model can be a major asset for Europe.
What advice would you give to others looking to innovate in energy or sustainability?
Understand the market and where it’s heading. Be willing to adapt and make bold decisions, because things change fast and not everything is predictable.
How has the startup ecosystem in Stockholm and Sweden supported your journey?
The ecosystem is fantastic, with strong state support, grants, and a vibrant community of skilled entrepreneurs. It’s a great environment for innovation and growth.
What excites you most about the future for Greenely?
Solving these big challenges and scaling our product across Europe is the dream right now. We’ve built a strong team and are ready for the next phase.
Stay tuned for more inspiring stories from visionary founders within the Luminar Ventures portfolio, published regularly as part of The Founder Series.
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