- 24
- February
2020
Solar data manager Solytic raises Series A from EWE and Vattenfall
Data is key and enables new business models. The more data you have the better. This is also true in the solar industry and that’s why solar data manager Solytic is a hot startup these days. We’re happy to break the news that Solytic celebrates the first closing of its Series A raising almost €5M from new investor EWE and existing investor Vattenfall, 2 of the top 5 utilities in Germany. As a result, Vattenfall owns a bit more than 20% and EWE a bit less than 20%. The A round was also joined by 3 business angels led by ex-Goldman Sachs banker Frank Oliver Lehmann. EWE’s impressive investment manager Justin Müller met Solytic’s Enrico Ohnemüller and Vattenfall’s Alexander Hain on 16 May 2019 at Ecosummit Berlin and learned that Solytic was planning a new round. As EWE is transforming into a smart green utility that believes in the power of data and wants to grow its renewable energy business, the Berlin-based startup immediately looked like a good strategic fit and smart investment. In fact, Solytic is open to talk to new investors providing strategic value because the next financing round is already planned.
Read more- 26
- April
2017
ONZO: Treating home energy like high finance
ONZO’s cloud-based analytics are powering into domestic energy markets. Emerging from the buzzing London tech scene in 2007, the company first focused on hardware, creating a clip-on power meter with wireless display. However, in 2012 the rapid roll out of smart meters led them to sell off the hardware business to Scottish utility SSE. Steven Daniels, one of the private equity investors, took the reins as CEO and the company re-started as a pure energy analytics company floating in the cloud.
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