The Navitasoft Ltd. is an IT service company that has been operating for 14 years. Its focal area is energy market software solutions for electricity and gas market participants.

The development of Navitasoft's own energy market cloud service contributes to the efficiency of energy systems by regulating the balance between energy production and use, by connecting producers and consumers. Their activities contribute to increasing the utilization of renewable energy, and obtained data will be suitable for the operation of the energy use system.

The investment in March 2022 will allow the company to expand its portfolio with cloud-based services, building on existing products and expertise.

Ákos Füzi, Navitasoft founder and CEO shared his thoughts about the capital investment deal:

As decentralization increases, more and more small players are entering the energy market: solar panels, wind turbines, heat pumps and so on. Since these players need ready-made software solutions rather than bespoke ones, we have to adapt to energy market trends in order to meet their needs. The amount - HUF 1.2 billion, or around 3.2 million euros - will go toward developing our own cloud-based application, which will enable all energy devices to be connected to the European energy markets.