Installion raises €4M Series A led by Eneco Ventures
The energy transition is a hands-on job because somebody has to install all the hardware needed for making, storing and charging solar energy at the customers’ premises. It turns out that finding a good installer can be anything from very tough to simply impossible. In other words, installation is the bottleneck if we want to reach 100% renewables. For the founders among us it’s an obvious startup opportunity. Installion is the installation service provider for the energy transition helping utilities and other solar companies with qualified manpower onsite and on time. On 25 February 2021, we introduced Installion to Eneco and other smart green VCs to find the best lead investor, the main piece in the Series A puzzle. After watching Florian’s online pitch at Ecosummit Zoom 10 March 2021, Eneco was hooked and due diligence started. The deal closed end of July and today we’re breaking the news that Eneco Ventures invests a ticket of €3.2M leading Installion’s €4M Series A. At the same time, Ecosummit gets 1 assist on the startup VC matchmaking scoreboard which proves our value and track record.
The Cologne-based startup was co-founded by Florian Meyer-Delpho, Till Pirnay and Claus Wohlgemuth in 2019. Up to now Installion was financed by angels including Kai Howaldt, Bernhard Beck and, most recently, Christoph Ostermann whose loans converted in the oversubscribed Series A. The new capital will be used to scale the team and build 10 installation hubs employing 100 inhouse installers until the end of 2021 and achieve a total of 20 hubs with 200 inhouse installers until the end of 2022. Installion’s B2B customers include EON, Sonnen, Enercity, Eigensonne and Sunvigo.
To learn more you may catch Florian and Karel Nanninga on stage at Ecosummit Berlin 8-9 September 2021 or on the networking floor building new relationships with investors and startups and celebrating the successful Series A with our participants. Congrats to the founders, investors and employees. Let’s install it until the energy transition job is done.
Tags: Batteries, Bernhard Beck, Christoph Ostermann, Claus Wohlgemuth, Ecosummit Berlin 2021, Eigensonne, Eneco Ventures, Enercity, Eon, EV Charging Stations, Florian Meyer-Delpho, Germany, Installation Service Provider, Installion, Kai Howaldt, Karel Nanninga, PV Systems, renewable energy, Series A, Solar Energy, Sonnen, Sunvigo, Till Pirnay