DLA Piper advises Inven Capital on investment into Eliq AB

DLA Piper Prague has successfully represented Inven Capital, in their investment into Swedish company Eliq AB. With its stake in Eliq AB, Inven Capital is expanding its portfolio of companies with an important customer engagement platform in the utility space.

The DLA Piper team was led by Miroslav Dubovský, Country Managing Partner in the Czech Republic and by Petter Kjöllerström, partner at DLA Piper Sweden. Our international reach provided Inven Capital with a valued single point of contact for the transaction outside of the Czech Republic. The area of technology and energy involved in the deal is of particular focus for the firm and we have recently completed a number of projects in this area.

Inven Capital is a venture capital fund backed by the ČEZ Group, a leading energy producer in the Czech Republic, that invests in clean technology and new energy sectors and focuses on innovative and fast-growing European and Israeli companies and startups. Among others, the Inven Capital portfolio includes the leader in smart thermostats Tado, and Zolar, a digital marketplace for photovoltaic systems. Eliq AB, which provides software for monitoring electricity consumption and demand patterns, will now join their ranks. Eliq AB’s software allows customers to effectively measure and maintain energy consumption and consequently reduce living costs.

Miroslav Dubovský said: “I’m pleased that we were able to assist such a significant fund with its acquisition outside the Czech Republic. The area of technology and energy is one of our key sectors and we have completed a lot of successful projects thanks to our deep experience and expertise. This transaction confirms that the market offers a number of interesting opportunities for investors.”

“Together with our Prague colleagues, we have already had several opportunities to successfully carry out a significant transaction involving the Nordic region and CEE. Eliq AB is a well-known player in its field in Sweden, so we are pleased with the entry of an important investor who will take the company one step further,” added Petter Kjöllerström, partner at DLA Piper Sweden.

“With its customer engagement platform, Eliq is enabling energy utilities to create sustainable relationships and trust with their end consumers, decreasing the churn rate significantly, by up to 70% and increasing the engagement rate and interaction time steeply – in some cases tenfold. We were happy to work together with the DLA Piper team on this transaction,” said Petr Míkovec, Managing Director of Inven Capital.