Kiwigrid raises Series C to build global energy IoT platform
Kiwigrid raises a double-digit million Euro Series C from Aqton, Stefan Quandt’s family office that also invested in Heliatek’s Series D, Innogy and LG Electronics to build a global energy IoT platform. The Dresden-based smart green startup won the ECO16 Gold Award in the late stage category and has got over 105 employees. High-Tech Gründerfonds, Germany’s largest seed investor with 80% public money, and Innogy Venture Capital, the old corporate VC fund of Innogy that is in its divestment period, sold their shares completely and celebrate a financial exit with positive returns.
Read moreSonnen raises €76M Series D led by Envision Energy and targets IPO
This is a massive financing round. In fact, it is the biggest equity round raised by any Ecosummit startup so far because Sonnen‘s €76M Series D is pure equity. Christoph Ostermann pitched for the first time at Ecosummit Düsseldorf 2012 when he was still working on his Series A. Having secured €20M in three prior funding rounds, the total venture capital raised now amounts to €96M. The new investors are the Chinese wind turbine maker Envision Energy and the family office of Thomas Pütter, ex-CEO of Allianz Capital Partners. At the same time, GE Ventures that were announced as a new investor in June 2016 and the early investors Ecapital, SET Ventures, Munich Venture Partners and Inven Capital all participated in the Series D, too. Make no mistake, Sonnen is a well-funded and licensed utility that challenges all incumbent utilities by inventing new energy services and making electricity free for owners of PV and battery systems.
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