Smart green startups you should know
Your deal flow is on Youtube. We’re happy to present the best smart green startups in energy, mobility and cities that pitched at Ecosummit Berlin in the past 4 years on Ecosummit TV: Sunfire, 1KOMMA5°, First Light Fusion, Instagrid, Nexwafe, Dendra Systems, Electrochaea, Ineratec, Kiwigrid, CorPower Ocean, LiveEO, VoltStorage, Aerones, Sunvigo, ESFORIN, Enspired, Mixergy, Ecoworks, Wirelane, Roofit.solar, DEPsys, Energyworx, Vyntelligence, EcoG, Epilot, Einhundert, Node.energy, Solytic, Ezzing Solar, Ubiq, Eliq, Blixt, Eologix, Installion, Lumenaza, Exnaton, Scone, Dexter Energy, Energiency, Grid Edge, Elaphe, PowerUp, Volytica Diagnostics, Omniflow and Epishine. These hardware and software startups represent exciting investment opportunities with environmental, financial and strategic returns for (C)VCs and family offices. All of them work hard to generate big climate impact and many of them have the potential to become smart green unicorns made in Europe. Pitch at Ecosummit Berlin 14-15 June 2023 to tell your startup growth story and increase the quantity and quality of the term sheets in your next financing round.
The Dresden-based hydrogen startup Sunfire makes very efficient solid oxide electrolysers and fuel cells using the same technology platform to convert renewable energy to liquid fuels and thus enable the important sector coupling for the 100% renewable energy system. On 18 October 2021, Sunfire announced a massive €109M Series D led by Lightrock and Planet First Ventures and with participation from Carbon Direct Capital Management, HydrogenOne Capital and existing shareholders.
Founded in 2021, 1KOMMA5° is a company aggregator buying solar installers in Germany, Sweden and other countries to build a European climate tech powerhouse providing PV, batteries, EV charging stations and heat pumps to residential customers. According to Philipp, 1KOMMA5° already acquired 10 companies, employs 500 people and installed a total of 36.000 PV systems in the past. Following a private equity acquisition strategy, 1KOMMA5° aims at growing as fast as possible to convert millions of households to all-electric renewable homes. Only as a unicorn this startup makes sense and generates enough impact.
First Light Fusion
On 5 April 2022, First Light Fusion, the University of Oxford fusion spin-out, announced it has achieved fusion. The UK Atomic Energy Authority (UKAEA) has independently validated the result. This is the first time fusion has been achieved using the unique targets developed by First Light, and the corresponding projectile technology. First Light’s mission is to solve the problem of fusion power with the simplest machine possible. Projectile fusion is a new approach to inertial fusion that is simpler, more energy efficient, and has lower physics risk. First Light has achieved fusion having spent less than £45 million, and with a rate of performance improvement faster than any other fusion scheme in history.
Instagrid provides portable green power to professionals and mobile lifestyle optimisers in all kinds of offgrid situations, including construction sites, ubiquitous events, smart forests or sustainable picknicks in the park enhanced by electric BBQs and powerful sound systems. Instagrid raised €40M and is backed by Energy Impact Partners and SET Ventures.
In Q4 2021, Nexwafe raised €39M Series C led by Reliance New Energy Solar and supported by Saudi Aramco Energy Ventures and Innoenergy enabling Nexwafe to further develop and market its green solar wafer manufacturing technology. Next to investing a ticket of €25M, Reliance plans to license and deploy Nexwafe’s technology in its new solar giga factory in India. Now Nexwafe is raising €100M Series D to bring in more strategic partners.
Oxford-based Dendra Systems rebuilds ecosystems as a service for mining and oil companies. Ecosummit is a proud angel investor in Dendra Systems and we think it is one of the best and most impactful startups in the world.
In the midst of the global gas crisis it is a cool idea to make your own biogas from solar or wind energy. Electrochaea decarbonises the gas grid by producing renewable gas with the help of a biomethanation process using microorganisms. Electrochaea already raised €75M in equity and grants and is now fundraising again to build a big €60M biogas factory. In fact, it looks like we need a lot of biogas gigafactories in Europe as soon as possible. Ecosummit investors in the cap table include Energie 360° and Munich Venture Partners.
Ineratec is a spinoff of the Karlsruhe Institute of Technology and decarbonises aviation, shipping and the chemical industry by producing carbon neutral, synthetic e-fuels with the help of a patented power-to-liquid chemical snythesis process out of CO2 and renewable electricity. In January 2022, Ineratec raised $20M Series A from Engie New Ventures and other investors. Now Ineratec is raising its €100M Series B.
Kiwigrid builds the operating system for renewable energy. The new KiwiOS X and the energy manager Voyager X enable an open energy IoT platform that connects and controls all devices and renewable energy assets in the household. Kiwigrid is open to talk to new strategic investors that share their vision and growth strategy.
The Swedish startup CorPower Ocean makes wave energy conversion devices that are very efficient and cost competitive. CorPower Ocean is currently fundraising again.
The German startup LiveEO provides satellite-based earth observation data and services to infrastructure owners including utilities. LiveEO is backed by Helen Ventures.
Aerones is a Riga-based wind turbine maintenance service provider minimising downtime with the help of smart robots and software developed inhouse. Aerones graduated from Y Combinator in 2018, is backed by Future Positive Capital and Change Ventures and is powered by a team of over 100 employees. Aerones works for the leading wind turbine manufacturers, wind park operators and asset owners and raises its Series A in 2022.
Founded in Summer 2020 and having raised €10M Series A in 2021, the German solar utility startup is now going for a large Series B. Sunvigo finances, installs, owns and operates PV systems and sells a solar power contract to its residential customers to make their life super easy. The next big step is smart green heat as a service which will be launched as soon as possible. Sunvigo is backed by Eneco Ventures, Sparta Capital, High-Tech Gründerfonds and smart green angels including Ecosummit.
ESFORIN provides automated intraday trading and flexibility marketing, is backed by SET Ventures and Christoph Ostermann who also serves as Chairman, employs a team of 40 and is currently fundraising its Series B to finance its European expansion.
The outstanding Austrian software startup optimises energy trading with the help of a fully digital, automated flexibility trading platform. Founded in 2020, Enspired is backed by Emerald Technology Ventures and Helen Ventures and will soon raise its Series B.
The UK hardware and software startup Mixergy decarbonises home energy by making smart hot water tanks that can be integrated with any heat pump in the market. Smart hot water tanks are also distributed energy assets that can be connected and commercialised in the flexibility market. Mixergy is growing fast and currently fundraising again. Definitely a fantastic smart green startup and investment opportunity.
Berlin-based Ecoworks decarbonises the building stock by renovating multi-storey buildings with a prefabricated second skin for optimal insulation and a new integrated renewable energy system. Ecoworks accelerates the construction industry by making smart green buildings at scale and reduces the cost and time of renovation projects. Ecoworks is currently raising €20-30M Series A and already generates a lot of investor interest.
The German startup Wirelane is a full-service provider for public EV charging providing hardware, software and payment. In August 2021, Wirelane raised €18M Series B (€12.1M fresh capital and €5.9M converted loans) led by Abacon Capital, the investment arm of the Büll family office in Hamburg.
Tallinn-based Roofit.solar makes beautiful 2-in-1 integrated solar metal roofs and is backed by BayWa r.e. Energy Ventures. At ECO22 Berlin, they opened their Series B financing round.
Swiss startup DEPsys develops Grideye, a powerful and cost efficient product to optimise the local smart grid of utilities (DSOs). DEPsys was first backed by Statkraft Ventures and VNT Management and recently raised their Series B from SET Ventures and BNP Paribas.
The Dutch software startup provides a very powerful energy data analytics platform and has got 9 million smart meters connected to their energy cloud. Energyworx has got 55 employees, is backed by SET Ventures, Eneco Ventures, EDP Ventures and Engie New Ventures and is currently fundraising again.
The UK software startup Vyntelligence develops and provides a powerful platform for video and data analytics for the energy industry and other verticals. Vyntelligence is backed by Engie New Ventures and EDP Ventures and is currently fundraising again.
The German software startup EcoG builds the operating system for EV charging stations to reduce the cost and time-to-market of new EV charging hardware. EcoG is backed by Helen Ventures, grows fast and is currently fundraising its Series A.
Epilot provides a cloud-based e-commerce platform for small and big utilities enabling them to go digital and sell all of their products online in an easy and seamless customer journey. Founded in 2017, Epilot has got over 100 customers including Enercity which is also one of their investors. Epilot is currently raising their Series B.
Einhundert provides renewable energy systems to real estate property owners including PV, batteries and smart meters. Recently, Einhundert has its created a unit of inhouse installers based in Cologne and Berlin to accelerate the rollout of new PV systems. Moreover, Einhundert now also provides financing solutions to enable solar as a service. In February 2022, Einhundert closed its €6.5M Series A led by EWE but is always open to meet new investors and strategic partners.
Frankfurt-based Node.energy operates the SaaS platform Opti.node to manage solar and wind power plants on commercial buildings and in open space energy farms. As of today, more than 10.000 power plants are under management. Often a PPA is being used to sell the locally produced renewable energy directly to the tenants of commercial buildings. One of Node.energy’s customers is the German startup Enviria that closed a €22.5M Series A on 23 June 2022 and operates PV systems on commercial rooftops. On 27 July 2022, Node.energy itself announced its €7M Series A led by Bitstone Capital and with participation of Helen Ventures.
The Berlin-based startup Solytic develops an AI-powered software platform to manage PV systems post-installation and already has got 160.000 assets under management. Solytic is backed by EWE, Vattenfall and STEAG Solar Energy Solutions.
The Spanish startup Ezzing Solar develops a sophisticated end-to-end software platform for planning, selling and installing PV systems. Ezzing Solar is backed by Repsol and recently announced a new investment from Encevo.
Ubiq aims at making shared and electric mobility more sustainable and profitable with the help of AI-powered software that better predicts demand and adjusts supply to optimise asset utilisation. Ubiq is backed by Energie 360° and is currently raising €7M Series A.
The Swedish software startup Eliq provides an energy customer engagement app and communication platform for utilities. Eliq has got 50 employess and is backed by Inven Capital and Contrarian Ventures. Eliq is currently raising their Series B.
Serial entrepreneur Charlotta Holmquist pitches Blixt and announces their partnership with Infineon at Ecosummit Berlin 8-9 September 2021. The Swedish startup makes digital solid state circuit breakers and inverters that can be used in many applications around the world. Blixt is supported by the Swedish Energy Agency and BayWa r.e. Energy Ventures and is currently fundraising their Series A.
On 8 September 2022, Eologix announced its €6M Series B led by Emerald Technology Ventures and with participation of Orlen VC, Nabtesco Ventures and Phoenix Contact Innovation Ventures. The Austrian startup makes smart solar-powered sensors to monitor the blades of wind turbines with the goal of saving 1-5% of annual energy production (AEP). Eologix first pitched at Ecosummit Zoom 20 July 2020 and at Ecosummit Berlin 2021.
Hardware installation is a big bottleneck in the energy transition to 100% renewables. Installion connects solar installers and solar utilities and other operators. Moreover, Installion is managing its own installion hubs in order to grow the number of installers and installation jobs getting done. Installion is backed by Eneco Ventures and Enercity, raised its Series A in 2021 and is currently in the process of starting its Series B.
The Berlin-based software startup provides a utility-in-the-box software platform to existing and new utilities. On 8 June 2021, Lumenaza raised its €6.5M Series B led by First Imagine Ventures and the family office of Tom Wolf.
Exnaton provides a SaaS platform to energy providers to enable them to operate energy communities and smart dynamic tariffs. Exnaton is currently fundraising their €3M Seed round.
The Belgian software startup develops a climate activation platform to positively influence the behaviour of employees, citizens and consumers. Scone is currently fundraising €5M to accelerate its growth and further develop the product.
Dexter Energy develops an AI-based energy forcasting and trade optimisation platform. At ECO22 Berlin, they opened their new financing round.
The French startup provides AI-powered software to optimise energy efficiency in the manufacturing industry. Energiency has got a team of 30 employees, is backed by Encevo and is currently fundraising its Series B.
UK-based Grid Edge develops AI-powered software to improve the energy efficiency of buildings which are responsible for around 40% of global carbon emissions. Grid Edge is backed by BP Ventures and is currently fundraising.
The Slovenian startup Elaphe makes electric in-wheel motors, has got a lot of customer traction, is backed by InnoEnergy and is currently raising their Series B.
The French startup PowerUp develops a cloud-based software platform to analyse and optimise the lifetime and sustainability of batteries. PowerUp is backed by EDF Pulse Ventures and will fundraise its Series B in 2023.
The Dresden-based startup analyses battery data to understand remaining lifetime and other key values that help optimise the economics and sustainability of batteries. Volytica Diagnostics is a Fraunhofer spin out and is backed by InnoEnergy. They are currently fundraising.
The Portuguese hardware and software startup Omniflow builds smart green streetlights powered by wind and solar that enable a multitude of smart city services. The lamp posts may also include 5G base stations, batteries and computer vision technology. Omniflow is cashflow positive and currently raising €12M Series A.
Harvesting light: Mattias Josephson pitches Epishine at Ecosummit Berlin 2019. The Swedish startup develops the next generation of printed solar cells that will be applied for consumer electronics and other markets. Epishine is very promising and backed by Swedish Energy Agency.
Tags: 1KOMMA5°, Aerones, Blixt, Cities, CorPower Ocean, Dendra Systems, DEPsys, Dexter Energy, EcoG, Ecosummit Berlin 14-15 June 2023, Ecosummit Berlin 2019, Ecosummit Berlin 2021, Ecosummit Berlin 2022, Ecoworks, Einhundert, Elaphe, Electrochaea, Eliq, Eneco, Energiency, Energy, Energyworx, Enspired, Eologix, Epilot, Epishine, ESFORIN, Exnaton, Ezzing Solar, First Light Fusion, Grid Edge, Ineratec, Instagrid, Installion, Kiwigrid, LiveEO, Lumenaza, Mixergy, Mobility, Node.energy, Omniflow, PowerUp, Roofit.solar, Scone, Smart Green Cities, Smart Green Energy, Smart Green Mobility, Smart Green Startups, Smart Green VCs, Solytic, Sunfire, Sunvigo, Ubiq, Voltstorage, Volytica Diagnostics, Vyntelligence, Wirelane