Instagrid raises €88M Series C led by Teachers’ Venture Growth
Instagrid got rhythm. The mobile battery making machine from Germany grooves and moves ahead with a new financing round every 2 years tripling the capital raised: €8.5M Series A in February 2020, €29M Series B in February 2022 and €88M Series C on 23 January 2024. Teachers’ Venture Growth, the venture arm of Ontario Teachers’ pension fund ($185 billion AUM), leads the Series C and Morgan Stanley Investment Management ($1.5 trillion AUM) co-invests implementing their investment strategy to avoid 1 gigaton of CO2 emissions. The new funds will be used to expand into North America, scale production to satisfy the unlimited demand and grow the product family with bigger batteries.
Read moreSmart green deals: Taylor, Einhundert, Ineratec, 42watt, Aira and Tibo Energy
Today is a good day to share 6 noteworthy smart green deals which involve startups and investors in the Ecosummit community and beyond. As you know, pitching at Ecosummit is a great idea to launch and accelerate new financing rounds or promote the investment strategies and portfolios of climate tech funds. Congrats to the outstanding founders, employees and investors of Taylor, Einhundert, Ineratec, 42watt, Aira and Tibo Energy who have all been very busy and diligent building new relationships and negotiating shareholder agreements during the last months. Now the hard work to save our climate, decarbonise our economy and electrify our planet continues.
Read moreEcosummit Berlin 14-15 June 2023
Ecosummit accelerates smart green startups in energy, mobility and cities to save our climate, decarbonise our economy and electrify our planet. Our events are startup markets enabling fundraising, lead and co-investing, portfolio development, corporate venturing, open innovation and M&A. Ecosummit Berlin 14-15 June 2023 is supported by 46 sponsors and takes place at Spindler & Klatt, Köpenicker Strasse 16-17, 10997 Berlin, the perfect location for sunshine and outdoor networking. The agenda features 116 speakers including 79 startups. Get your tickets and start arranging your meetings with our 330 participants using Linkedin. We look forward to hosting you.
Read moreSunvigo raises €10M Series A led by Eneco Ventures
Finding the perfect lead investor is the most important milestone in venture capital financing rounds. In March 2021, we introduced Sunvigo to Eneco Ventures and started another promising relationship. As a result, our ecoportfolio company has successfully closed its €10M Series A led by the corporate VC arm of the Dutch utility. The second new Series A investor is Sparta Capital, a London-based multi-strategy fund with $500M assets under management (AUM) focused on smart green investments decarbonising our economy. The seed investors Übermorgen Ventures, Ecosummit and High-Tech Gründerfonds (HTGF), as well as a private real estate investor that joined in summer 2021, also make follow-on investments in the A round. The Cologne-based startup is a smart solar utility that bundles PV system, battery, asset financing, installation, operations, maintenance and insurance into one simple power contract and electricity tariff for homeowners in Germany, a very useful value proposition when energy prices are skyrocketing.
Read moreAlantra’s new Klima fund invests in Mainspring
Smart green energy startups in Europe raising Series B or later rounds now have one more financial VC to go to in Madrid. The new late stage VC fund is called Klima (climate in German), focuses on hardware and software startups accelerating the energy transition and achieved its first closing at €80M on 7 June 2021. Klima’s capital is committed by powerful Spanish LPs including the listed investment bank and asset manager Alantra (€18M commitment), the gas corporate Enagás (€30M), the state-owned bank Instituto de Crédito Oficial (€15M), the renewable energy developer Capital Energy (€2M), the German family office Blueworld Group and other undisclosed institutional investors. On 12 July 2021, Klima announced its first investment in Sillicon Valley-based Mainspring, expanding their $95M Series D to $108M together with other investors entering the massive round at the last minute. GP Lucille Bonnet will pitch Klima at Ecosummit Berlin 8-9 September 2021.
Read moreWirelane raises €18M Series B led by Abacon Capital
Ubiquitous electric mobility and EV charging play an important role to save our climate and planet and this is the decisive decade to limit global warming to 1.5°C. By 2030, Transport & Environment’s Road2Zero scenario forecasts a need for 2.9 million public EV chargers in the EU. Just-in-time, Wirelane raises €18M Series B (€12.1M fresh capital and €5.9M converted loans) to accelerate its growth and contribute to rolling out more EV charging stations. The B round is led by Abacon Capital, the investment arm of the Büll family office in Hamburg. Early investors in Wirelane include Vito Ventures, HTGF and Coparion. Founded in 2016, Wirelane employs 40 emobility experts in Munich and Berlin and targets €5M+ revenues in 2021. Among the B2B customers are BMW and Vattenfall.
Read moreEnergyworx raises €5.1M Series B led by Eneco Ventures
Breaking news at Ecosummit Zoom today: Energyworx raises €5.1M Series B led by Eneco Ventures and with participation of existing investors ENGIE New Ventures, EDP Ventures and SET Ventures. While the round was oversubscribed, Energyworx selected Eneco Ventures as lead investor due to the shared vision and growth strategy as well as a really smooth deal process and fast due diligence. The Dutch startup is focused on cloud-based energy data management for grid operators and retailers, employs a team of 27 and aims at growing at 100% in 2022. Eneco Ventures is standing out among Europe’s Corporate VCs because it already celebrated 3 exits in the first half of 2021 having sold their stakes in Thermondo, Next Kraftwerke and Greenflux. The proceeds of the exits will be invested in new startups of which Energyworx is the first one. Marcel Smit, CEO of Energyworx, first pitched at Ecosummit Berlin 2017 and, most recently, at Ecosummit Zoom 2 September 2020.
Read moreLumenaza raises €6.5M Series B from First Imagine and Tom Wolf
Smart green utility-in-a-box: Today Lumenaza announces the successful closing of their €6.5M Series B, led by First Imagine and the family office of Tom Wolf. The existing investors Future Energy Ventures and IBB Ventures made follow-on investments while EnBW New Ventures exited after a holding period of 5 years. The new capital enables the Berlin-based startup to accelerate its growth and international expansion and further develop its energy-as-a-service platform and services. Lumenaza is specialised in enabling new utilities and energy communities. Customers include E.ON, SMA and Envision Digital and partners include Greencom Networks. The software-as-a-service startup pitched at Ecosummit Berlin 2014 for the first time and, recently, at Ecosummit Zoom 3 November 2020 and Ecosummit Zoom 21 April 2021.
Read moreGreenCom Networks raises €12M Series C led by Shell Ventures
Breaking news at Ecosummit Zoom today: Founder CEO Christian Feißt unveils the €12M Series C of GreenCom Networks led by Shell Ventures and supported by new co-investor Energy & Environment Investment (EEI), Japan’s leading smart green VC making its first investment in Europe. With the help of EEI, GreenCom is already working on entering the Japanese market and talking to potential customers. Existing investors Centrica, Future Energy Ventures, Munich Venture Partners and SET Ventures, who all happen to be Ecosummit 2020 sponsors, participate in the new financing round of their portfolio star. The Munich-based company was founded in 2011, employs 65 energy, software and innovation experts, has a very strong management team and enjoys increasing commercial traction. In fact, GreenCom launched its Series C at our first Ecosummit Zoom 6 May 2020 and announced the closing 7 months later at our 8th Ecosummit Zoom 2 December 2020. Celebrating this funding milestone and our productive friendship, Christian just renewed their Ecosummit 2021 sponsorship. That’s the way we like it.
Read moreFresh capital for Skeleton, Tibber, The Fctr E, Tier, Dance, Greenbird, Pexapark, Dryad and Clim8
European smart green startups in energy, mobility and cities are en vogue among global investors and have recently closed new financing rounds. It’s about time to celebrate their progress and give you a quick summary of 9 transactions that have impressed us: Skeleton Technologies €41.3M Series D, Tibber $30M Series B, The Fctr E €10M Series A, Tier Mobility $250M Series C, Dance Mobility €15M Series A, Greenbird €5M Series B, Pexapark €6M Series B, Dryad Networks €1.8M Seed and Clim8 Invest £2.4M Seed Extension. Read on to learn why we think that these startups provide a lot of growth, environmental impact and financial return potential. We also note a growing number of serial entrepreneurs with exits who prefer to build a sustainable startup next to maximise their impact until 2030. That’s a really positive and inspiring trend.
Read moreEcosummit invests in smart solar utility Sunvigo
Solar is by far the most important renewable energy on planet Earth. To grow the number of PV systems on global rooftops a lot faster, we have to make the solar purchase decision and PV system operations as simple as possible for consumers. The solution is to package the complex bundle of solar technology, financing, installation, operations and insurance into a super easy solar electricity tariff provided by a new smart solar utility. Sunvigo are the new kids on the block, in this case the residential solar market in Germany. After aggregating a strong partner network including a smart meter operator and several PV installers, the Cologne-based solar-as-a-service startup already have their first happy customers making their own solar power at home while paying only their monthly electricity bill. Most importantly, the 3 co-founders Vigen Nikogosian, Michael Peters and Bastian Bauwens are a great team: intelligent, well educated, modest and ambitious, with impressive track records and highly motivated to maximise their impact until 2030. That’s why Ecosummit invested €50K in the €500K Seed round together with Zurich-based Übermorgen Ventures and other smart green angels.
Read moreEcosummit Zoom 2 September 2020
We accelerate smart green startups, investors and corporates in energy, mobility and cities to save our climate and planet. The 5th Ecosummit Zoom takes place on 2 September 2020, 10:00-12:00 and 15:00-17:00 Berlin time. Gerard and Jan co-host 18 passionate speakers including many fast growing and capital efficient startups that are launching new Seed, Series A or B financing rounds. Further highlights are the preview of Volta Zero, the first 16-tonne electric truck for sustainable cities, a briefing on EON’s CVC strategy after the acquisition of Innogy, the amazing new solar wafer technology of NexWafe as well as updates from our angel portfolio companies Dendra Systems and Solar for Schools. The secret success factor of Ecosummit Zoom is the test pitch that we practice and optimise with each individual speaker in advance. Please get in touch if you want to speak at our monthly online events and get your tickets to join us. Let’s automate sustainability in every industry and build big startups with big impact.
Read moreEnergiency raises €4.5M Series A led by Encevo
Ecosummit startups are startups that pitched at least once at Ecosummit. Ecosummit investors are investors that have at least one Ecosummit startup in their current portfolio. Today the Ecosummit startup Energiency announces its €4.5M Series A led by the Ecosummit investor Encevo. At the same time, we get one more assist because CEO Arnaud Legrand first met VC Analyst Quentin Dupraz at Ecosummit Paris on 6 March 2018. The French startup and the Luxembourg utility speak the same language and quickly found out that they not only understand each other but also have similar ideas for developing joint business opportunities in the industrial energy market. As Nicolas Milerioux and his team are on the mission to expand corporate venturing and open innovation, Energiency turned out to be a really good match for Encevo’s strategy and portfolio.
Read moreSolar 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 moreEpilot raises Series A from Enercity after meeting at Ecosummit
At Ecosummit deals get done. We saw the need for bringing new climate tech to the global market a long time ago. Thus we already have 10 years track record of matching smart green startups with investors. Here’s one more success story about a fast growing energy e-commerce startup and a transforming city utility that met for the first time at Ecosummit Berlin 2019 to explore common ground with the help of coffee. Good deals take time. 9 months later, on 11 February 2020, Epilot announced at E-world the closing of its Series A in which Enercity invests a significant but undisclosed amount of growth capital to buy a 25,1% stake in Epilot’s cap table. After finishing our startup tour running around Germany’s leading energy trade fair, we joined Epilot’s lively stand party to celebrate the deal closing, interview the co-founders and enjoy a few Kölsch together.
Read moreSmart tank inventor Mixergy raises £3.6M Series A led by Foresight Williams
The new era of smart hot water tanks is here. Tanks that optimise energy consumption and accelerate the integration of renewables into the grid, putting more money into consumers’ pockets and offering grid balancing services with the help of demand response. Mixergy is that future of smart hot water tanks, on course to take over the UK domestic market and beyond. They started this year on a positive note, having raised a £3.6M Series A on 13 January 2020 led by Foresight Williams and backed by all previous investors including Centrica Innovations and IP Group, both regular sponsors of Ecosummit.
Read moreMobile battery pioneer Instagrid raises €8.5M Series A led by SET Ventures
They take mobile electricity where it has never gone before. Their goal is smart green electrification without local CO2 emissions. Their solution is replacing stinky diesel gensets with silent mobile batteries. Today Instagrid makes a big step forward and celebrates the closing of its €8.5M Series A led by SET Ventures and joined by Segnalita Ventures, part of the Swarovski family office which also owns Tyrolit, Germany’s early stage power house HTGF and the Frankfurt-based family office blueworld.group. At the same time, this transaction boosts our Ecosummit track record of successfully matching startups and investors. In fact, Instagrid and SET Ventures met for the first time at Ecosummit Berlin 2019. While this sounds very romantic, the A round is a major milestone for every startup and the beginning of a long-lasting relationship with many board meetings and follow-ons until the M&A or IPO exit.
Read moreSET Ventures announces Limejump investment at Ecosummit London
It is our common goal to build big startups that have big impact. Co-investing strengthens the investor syndicate and enables startups to grow faster. Following this goal, Amsterdam-based SET Ventures announces their new investment in Limejump at Ecosummit London. ECO17 London took place last week at the magnificent LSO St Luke’s, attracted 140 participants and presented 38 startups, most of them actively fundraising. In fact, SET Ventures transfers another €3M to Limejump doubling their Series A which was led by Statkraft Ventures in July. This is the first co-investment of SET Ventures and Statkraft Ventures but it may not be their last one given that they have the same investment strategy and different competences and networks.
Read moreEcoIntense rounds up 22 million euro cash injection
One Peak Partners and Morgan Stanley Expansion Capital are on board. Together, the private equity firms invest 22 million euros in Berlin-based EcoIntense. The late stage software startup has been cashflow positive since 2012 and even debt free since 2014. But “it’s almost like an old saying: you should have a financing round, when you don’t need any cash,” Markus Becker, Co-founder of EcoIntense explained his reason for raising capital anyhow.
Read moreONZO: 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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